Prime Minister Sheikh Hasina today directed all to implement the approved national budget with competence and transparency in the new fiscal.

Briefing reporters at the Secretariat, Cabinet Secretary Md Mahbub Hossain said, "She [Hasina] directed all to implement the budget with precision and transparency."

The directive came while the PM was chairing a Cabinet meeting at the PMO.

Besides, the Cabinet approved in principle the draft of the Institute of Frontier Technology Act, 2014, to establish the institute in Madaripur's Shibchar.

The main objectives for the first-of-a-kind institute include conducting ICT-related research, innovation, and training, he said.

The Department of Information and Communication Technology made the proposal for the institution.

The Cabinet secretary said they proposed to name it after the prime minister but she rejected it.

The National Budget for 2024-2025 fiscal year was passed in parliament yesterday.

The Cabinet also approved a proposal for the formation of Padma Bridge Operation and Maintenance Company (PLC).

The decision has been taken to form a separate company for the operation and maintenance of the Padma Bridge. It will be a 100% government-owned company, said the Cabinet secretary.

There will be a 14-member board of directors for the company with representatives from different agencies including Bridges Division and Finance Division, he said, adding that the board will fix its organogram.

Currently, Korea Expressway and China's Major Bridge Engineering Company (MBEC) are carrying out the toll collection and maintenance of the bridge. The foreign companies were appointed for five years.

Replying to a question, Mahbub Hossain said the proposed company will take over the responsibility after the expiry of the agreement signed with the two foreign companies.

The Cabinet also cleared the draft Export Policy 2024-2027 with some observations.