Govt will import 50,000 metric tons of onion

Cabinet Committee on Economic Affairs (CCEA)

The Cabinet Committee on Economic Affairs (CCEA) has recently approved two significant proposals aimed at addressing key issues related to the importation of essential commodities and the procurement of LNG. These decisions were made during the sixth meeting of the CCEA held at the Cabinet Division Conference Room of the Bangladesh Secretariat, chaired by Finance Minister Abul Hassan Mahmood Ali.

Approved Proposals

Import of Onions

The CCEA has approved a proposal in principle to import 50,000 metric tons of onions from National Cooperative Exports Limited of India. This decision reflects the government's commitment to meeting the increasing demand for this essential item in Bangladesh. The importation will be facilitated by the state-run Trading Corporation of Bangladesh (TCB).

Procurement of LNG

In response to a proposal from the Energy and Mineral Resources Division, the CCEA has approved a proposal in principle for the procurement of LNG under a short-term process from Gunvor Singapore Pte Ltd, Singapore. This decision underscores the government's efforts to ensure the availability of LNG, a vital energy resource, to meet the country's energy needs.

Additional Proposal Apprised

Furthermore, during the meeting, the Energy and Mineral Resources Division presented another proposal, which involved the signing of the Terminal Use Agreement (TUA) and Implementation Agreement (IA) with Summit LNG Terminal II Co Ltd. This agreement aims to set up a 600 MMCFD capacity re-gasification third FSRU (Floating Storage Regasification Unit) at Moheshkhali in Cox's Bazaar district. This initiative is expected to enhance the country's capacity for LNG re-gasification, contributing to the energy infrastructure development of Bangladesh.

Briefing by Cabinet Division Secretary

After the meeting, Cabinet Division Secretary (Coordination and Reforms) Md Mahmudul Hossain Khan provided a briefing to reporters, highlighting the significance of the approved proposals. He emphasized the importance of addressing both the agricultural and energy sectors to ensure sustainable development and economic growth in Bangladesh.

Conclusion

The government's decision to import onions from India and procure LNG demonstrates its proactive approach to addressing critical issues related to food security and energy sustainability. These measures are expected to contribute to the overall development and stability of Bangladesh's economy.

It is recommended that the implementation of these decisions be carried out efficiently and transparently to maximize their benefits for the country. Close monitoring and oversight should be maintained to ensure the successful execution of the importation of onions and the procurement of LNG, as well as the establishment of the LNG re-gasification facility at Moheshkhali.