Dhaka:The Cabinet Committee on Economic Affairs (CCEA) has approved a policy for procuring crude oil for processing at Eastern Refinery PLC (ERL) through a government-to-government (G2G) process, using the direct procurement method for the year 2027.
According to Bangladesh Sangbad Sangstha, the decision was made during the 32nd meeting of the CCEA, chaired by Finance Minister Amir Khosru Mahmud Chowdhury, held at the Cabinet Division in the capital.
The committee has approved a proposal from the Energy and Mineral Resources Division to import crude oil for ERPLC through the direct procurement G2G arrangement. Additionally, a policy for procuring refined petroleum products using the same method and process for the period from January to December 2027 was also approved.
Furthermore, the CCEA has sanctioned a proposal to reduce the time allocated for preparing and submitting bids for importing refined petroleum products through international open tenders by Bangladesh Petroleum Corporation (BPC) during January to June 2027. The bid preparation and submission period will be shortened to 21 days from the current 42 days.
All three proposals were presented to the committee by the Energy and Mineral Resources Division, which recommended their policy approval.