Dev Projects: Some firms got more work than they can handle

Prime Minister Sheikh Hasina at yesterday's cabinet meeting said a few companies are taking up work beyond their capacities.

"Some companies are handling more work than they can do. They are not functioning properly, causing significant delays in the completion of our development projects," said Cabinet Secretary Mahbub Hossain quoting the PM.

"The prime minister has asked for government procurement to be more open and free," he said while briefing reporters after the meeting.

"She has directed us to ensure competition in government procurement," Mahbub said, adding that the PM also instructed them to amend the relevant rules to address this issue.

To ensure competition, a draft policy titled "Sustainable Government Procurement Policy-2023" was approved at the meeting.

Now, the Implementation Monitoring and Evaluation Department will work to change the rules in this regard, said Mahbub.

Yesterday's cabinet meeting was quite different.

Almost all the ministers, state ministers, deputy ministers, and secretaries of all the ministries and divisions were present. Usually, deputy ministers and secretaries do not take part in cabinet meetings without prior agendas.

The PM also enquired about the current state of ongoing projects and challenges and asked the authorities concerned to finish the projects on time for the people's welfare, said the meeting participants.

Praising the ministers and secretaries for formulating 140 laws during the current government, Hasina said the draft laws that are yet to be passed by parliament will become invalid when a new government is formed, according to the meeting sources.

Several meeting participants told The Daily Star that such a meeting with all the government high-ups had not been held in recent years and it has special significance before the next national polls.

Meanwhile, the cabinet approved 22 days of government holidays for next year.

Besides, the final draft of the Finance Company Act-2023 was approved at the meeting, which is applicable for non-banking financial institutions.

According to the draft, the institutions are now entitled to sue any company or person if they are found to be wilful loan defaulters.

One or more individuals of a family cannot own more than 15 percent of shares of a financial institution as stated in the draft.

Moreover, one can serve as a director of a financial company for three consecutive terms, with each term lasting three years, according to the draft act.

If any company breaches the conditions of the trade licence, Bangladesh Bank can fine them up to Tk 50 lakh.

The draft act specifies that no financial company can waive the interest on any loan without BB approval.

Asked about the actions against the wilful loan defaulters, Mahbub said the BB will prepare a list of them and has the authority to take actions, such as imposing travel bans and revoking the trade licence of the company on loan defaulters.

The drafts of the Dr MA Wazed Miah Agricultural University Act-2023, Bangladesh Forest Industries Development Corporation Act-2023, and Village Courts (Amendment) Act-2023 were also approved at the meeting.