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No procurement rules forTCB's Ramadan buy

Star Business Report
The Trading Corporation of Bangladesh (TCB) will not need to follow public procurement rules (PPR) to buy commodities for market intervention in the month of Ramadan.
The cabinet committee on economic affairs has exempted the state-owned trading body from mandatory compliance with the PPR for one year to speed up the process of market intervention.
However, the commerce ministry earlier sought the exemption for three years.
The decision was taken at a meeting of the committee at the Cabinet Division yesterday with Finance Minister AMA Muhith in the chair.
The government plans a market intervention through the TCB to keep the prices of essential commodities such as sugar, lentil and edible oil within the reach of common people during Ramadan.
Earlier, such exemption was given for one year which expires on May 25.
A commerce ministry proposal said, as the month of Ramadan falls in August, the government has started preparations from now so that the TCB can effectively intervene in the market in time.
The proposal also said the TCB needs the exemption from procurement rules to be able to import or procure commodities such as edible oil, sugar, lentil, gram, onion, powder milk and dates from local market on an emergency basis.
On the eve of Ramadan, the fasting month of the Muslims, the TCB has already decided to import or locally buy 30,000 tonnes of sugar, 30,000 tonnes of soybean oil, 1,000 tonnes of gram, and 500 tonnes of dates, and build up a stock
The TCB said if it can buy the commodities and supply in the market timely, the prices would remain stable during Ramadan.
According to the commerce ministry proposal, the TCB has bought 10,135 tonnes of soybean oil, 27,785 tonnes of lentils, 2,000 tonnes of gram, and 20,000 tonnes of sugar at Tk 431 crore in the currentfiscalyear.
The items have been distributed through 2,245 dealers across the country.
A commerce ministry official said they marketed a big portion of these commodities during last Ramadan and could keep the prices in check.
The official said, complying with the government procurement rules is a lengthy process and this would delay and mess up the TCB move.