Industry

Govt suspends vehicle purchase, projects’ honorarium to cut costs in FY23

Considering global financial situation, the government has decided to suspend purchasing vehicles, including ships and aircrafts, for all government, semi-government, autonomous, statutory, state-owned companies and financial institutions.

The Finance Division issued an office circular in this regard. The circular stated to reduce expenditure in the operational and development budget for the current fiscal year 2022-23 as part of austerity measures considering the current global economic situation.

The training expenses in the country (inside country) are instructed to complete within 50 percent of the allocation.

Read: Budget’s highest priority is to tame inflation: PM

The government has suspended honorarium in context of the current global economic situation for all government, semi-government, autonomous statutes, development budgets of state, state-owned companies and financial institutions projects implementing under their funds in the fiscal year 2022-23.

From the allotment no honorarium is paid at the meetings of project implementation committee (PIC), project steering committee (PSC), divisional project evaluation committee (DPEC), special project evaluation committee (SPEC) and divisional special project valuation Committee (DSPEC).

Two separate circular issued on Sunday in this regard with an immediate effect.

Source: United News of Bangladesh