The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the policy for procuring crude oil for processing at Eastern Refinery PLC (ERL) through the government-to-government (G2G) process under the direct procurement method for 2027.
The approval was given at the 32nd meeting of the CCEA held at the Cabinet Division in the capital, with Finance Minister Amir Khosru Mahmud Chowdhury in the chair.
The committee approved a proposal from the Energy and Mineral Resources Division for importing crude oil for processing at ERPLC through direct procurement under the G2G arrangement.
It also gave policy approval for procuring refined petroleum products through the direct procurement method under the G2G process for the January-December 2027 period.
Besides, the CCEA approved a proposal to reduce the time for preparing and submitting bids for importing refined petroleum products through international open tender by Bangladesh Petroleum Corporation (BPC) during January-June 2027.
Under the approval, the bid preparation and submission period will be reduced to 21 days from the existing 42 days.
The Energy and Mineral Resources Division placed all three proposals before the committee, which recommended their policy approval.
Financial Mirror/AH
