The government has taken around Tk 113 billion (11,300 crore) from different state-run power and gas entities over the past several months during the coronavirus pandemic.
The Ministry of Finance (MoF) has taken the money in several installments since March, when Covid-19 outbreak started spreading across the country.
Of the total amount, paid by the state-run entities to the public exchequer, the Bangladesh Petroleum Corporation (BPC) paid around Tk 50 billion, Petrobangla around Tk 48 billion, and Bangladesh Power Development Board (BPDB) around Tk 15 billion.
"We took the money in line with a new regulation to utilise surplus money of the state entities for bankrolling the current ongoing development programmes," a senior official of the MoF told the FE on Monday.
In early February, 'The disposition of surplus money of self-governed agencies including autonomous, semi-autonomous and statutory government authorities and public non-financial corporations to the national exchequer bill 2019' was passed in the parliament.
The government subsequently issued a gazette notification in late February, directing the self-governed agencies, including autonomous, semi-autonomous and statutory government authorities as well as public non-financial corporations, to deposit their surplus funds to the public exchequer.
The state-run entities will have to deposit surplus funds after setting aside their operational cost, additional 25 per cent of the operational cost as emergency fund, and money for general provident funds and pension.
The government will allow the entities to keep funds for implementing self-financed projects, and to estimate their own operational cost, said the MoF official.
The Petrobangla paid around Tk 30 billion from its gas development fund (GDF), which was established mainly to bear the expenses of oil and gas exploration in local fields.
The entity paid the remaining Tk 18 billion from the money it got from selling 10 per cent share of the Titas Gas Transmission and Distribution Company Ltd, said a senior Petrobangla official.
The BPC, which is now making hefty profit by trading petroleum products due to lower oil prices in international market, paid around Tk 50 billion in several installments.
The BPDB paid Tk 15 billion to the public exchequer in two installments.
When contacted, Energy Secretary Md Anisur Rahman said utilising surplus money from the state-run entities would expedite the country's development work.
It would be better (for the government) to utilise the huge surplus money of the state-run entities instead of taking money from different commercial banks at higher interest rates, he added.
According to the MoF, around Tk 2,121 billion was deposited with 68 state-run entities, as of February 2020.
