The Cabinet Committee on Economic Affairs on Wednesday recommended in principle approval of three proposals to ensure crude oil and refined petroleum product supplies in 2027, including government-to-government (G2G) procurement and a shorter bidding period for imports through international tenders.
The decisions were taken at a meeting of the committee held at Bangladesh Secretariat with Finance Minister Amir Khasru Mahmud Chowdhury in the chair.
Under the first measure, crude oil will be imported through the direct procurement method under the G2G process for processing at Eastern Refinery PLC (ERPLC) during the 2027 calendar year.
The committee also recommended direct procurement of refined petroleum products through the G2G process for the January-December 2027 period. Both proposals were placed by the Energy and Mineral Resources Division.
In another measure, the committee recommended reducing the bidding period for international open tenders of Bangladesh Petroleum Corporation (BPC) for importing refined petroleum products during January-June 2027.
Under the proposal, bidders will be given 21 days to prepare and submit their bids instead of the existing 42-day period.
The Energy and Mineral Resources Division placed the proposal, citing the need to facilitate the procurement process for refined fuel oil imports during the first half of 2027.
Why it matters
The cabinet committee's recommendations streamline fuel procurement processes and secure petroleum supplies for Bangladesh through 2027.