Move to raise price of urea kept on hold
Friday, 20 July 2007
The move to increase the price of urea fertiliser has been kept on hold for the time being as the Advisery Committee on Economic Affairs Thursday sent the proposal back to the Industries Ministry, reports UNB.
The committee, however, said the Council of Advisers would take the final decision in this regard in line with price-increase proposals of gas, petroleum and electricity.
"Since the issue of price-hike is inter-linked, the relevant ministries were asked to submit their respective proposals to the Council of Advisers so that it can consider all the proposals holistically," said Finance Adviser Dr Mirza Azizul Islam, who presided over a meeting of the Economic Affairs Committee.
The Industries Ministry in its proposal had suggested increase of urea fertiliser price by Tk 2,700 per tonne from the present price of Tk 4,800 at the factory gates.
Similarly, the Power Ministry placed a proposal last month to the committee seeking approval to a 15 percent hike on the present tariff. But both the proposals have been sent back for further review.
Energy Division has already sent a proposal to the Council of Advisers for enhancing the prices of gas, compressed natural gas (CNG) and liquid petroleum while the Power Division will send its revised proposal for electricity tariff hike.
The meeting of the committee, known as Cabinet Economic Affairs Committee, approved a proposal of the Civil Aviation Ministry to procure a passenger plane at a cost of US$ 23 million.
Biman Bangladesh Airlines, the national flag carrier, which is now operating the aircraft on lease basis, will be its owner after three years of operation.
In its procurement process, Biman has been granted exemption from following the Public Procurement Regulation 2003.
The committee has approved another proposal from the Textile Ministry granting full waiver to compound interest and 65 percent waiver of normal interest standing in the name of Modern Karilin Silk Mills, now being operated by its workers and employees management.
As per the decision, if the workers could pay Tk 2.37 crore within next three months, they would become the owners of the mill.
The meeting put on hold a proposal of the Shipping Ministry to determine Sonadia area as the location for the proposed deep-sea port.
Earlier, the Advisery Committee on Public Purchase at a meeting in the morning approved a proposal of the Education Ministry to import 3,500 tonnes of paper for printing of school textbooks and another proposal from the Industries Ministry to import 50,000 tonnes of phosphoric acid.
The committee, however, rejected a Bangladesh Bank proposal for supplying 200 million pieces of metal coins.
The committee, however, said the Council of Advisers would take the final decision in this regard in line with price-increase proposals of gas, petroleum and electricity.
"Since the issue of price-hike is inter-linked, the relevant ministries were asked to submit their respective proposals to the Council of Advisers so that it can consider all the proposals holistically," said Finance Adviser Dr Mirza Azizul Islam, who presided over a meeting of the Economic Affairs Committee.
The Industries Ministry in its proposal had suggested increase of urea fertiliser price by Tk 2,700 per tonne from the present price of Tk 4,800 at the factory gates.
Similarly, the Power Ministry placed a proposal last month to the committee seeking approval to a 15 percent hike on the present tariff. But both the proposals have been sent back for further review.
Energy Division has already sent a proposal to the Council of Advisers for enhancing the prices of gas, compressed natural gas (CNG) and liquid petroleum while the Power Division will send its revised proposal for electricity tariff hike.
The meeting of the committee, known as Cabinet Economic Affairs Committee, approved a proposal of the Civil Aviation Ministry to procure a passenger plane at a cost of US$ 23 million.
Biman Bangladesh Airlines, the national flag carrier, which is now operating the aircraft on lease basis, will be its owner after three years of operation.
In its procurement process, Biman has been granted exemption from following the Public Procurement Regulation 2003.
The committee has approved another proposal from the Textile Ministry granting full waiver to compound interest and 65 percent waiver of normal interest standing in the name of Modern Karilin Silk Mills, now being operated by its workers and employees management.
As per the decision, if the workers could pay Tk 2.37 crore within next three months, they would become the owners of the mill.
The meeting put on hold a proposal of the Shipping Ministry to determine Sonadia area as the location for the proposed deep-sea port.
Earlier, the Advisery Committee on Public Purchase at a meeting in the morning approved a proposal of the Education Ministry to import 3,500 tonnes of paper for printing of school textbooks and another proposal from the Industries Ministry to import 50,000 tonnes of phosphoric acid.
The committee, however, rejected a Bangladesh Bank proposal for supplying 200 million pieces of metal coins.