The government today approved several procurement proposals worth over Tk 1,700 crore, including two spot cargoes of liquefied natural gas (LNG), 50,000 tonnes of rice, 10,000 tonnes of lentils, and 1.2 crore litres of soybean oil.

A meeting of the Cabinet Committee on Government Purchase, held at the Secretariat, approved the five procurement proposals from different ministries.

Of these, two proposals from the Energy and Mineral Resources Division involve LNG imports from the spot market.

Singapore-based Vitol Asia will supply one cargo on May 1–2 for Tk 593.75 crore, while TotalEnergies Gas & Power Ltd of the UK will deliver another on May 10–11 for Tk 607.66 crore.

The food ministry received approval to import 50,000 tonnes of non-basmati parboiled rice under the fiscal year 2024–25 plan.

Singapore's Agrocorp International was selected for the rice import at $416.44 per tonne, with a total value of Tk 254.02 crore.

The commerce ministry was allowed to locally procure 10,000 tonnes of lentils for Tk 92.75 crore from Sheikh Agro Food Industries.

It also received the green light to import 1.2 crore litres of soybean oil from Thailand's Life & Health Co for Tk 187.39 crore. The oil is of Nigerian origin.

Following the meeting, Finance Adviser Salehuddin Ahmed told reporters that Bangladesh is viewing the recent imposition of additional tariffs by the United States in a positive light.

"Both countries will benefit from this. Imports and exports will expand," he said, hinting at broader trade engagement with the US.

Salehuddin also remarked that the open tender process—used for procuring essential commodities like rice and pulses—is intensifying competition among bidders.

"This will create an opportunity to buy these products at affordable prices," he said.
Commerce Adviser Sheikh Bashiruddin echoed the optimism, noting that Bangladesh stands to gain if the US grants duty-free access to 100 more products.

"A positive decision may come in the wake of the letter sent by the commerce ministry to reduce the tariffs imposed by the US," he added.