“Until a shipment reaches the country, the bank will not make the payment to the buyer. So, there will be no chance for any loss by the government,” he added.

Myanmar army took control of the country toppling the democratically elected government recently which created a volatile situation in the Bangladesh’s East Asian neighbour.

However, the cabinet body approved some other proposals including wheat import from Russia and Argentina.

The cabinet body approved a proposal of the Directorate General of Food for import of 100,000 tonnes of wheat from Russian state-owned ‘Prodintorg’ Myasnitskaya under a government to government contract at a cost of over Tk 3.09 billion (Tk 309.52 crore) in which each ton will cost $365.

Another proposal of the Directorate of Food was also approved by the committee to import 50,000 tonnes of wheat from Argentina at a cost of Tk 1.5 billion (Tk 149.66 crore) in which each ton will cost $352.98.

The committee approved two separate proposals on fertiliser import by the Bangladesh Agriculture Development Corporation (BADC) under the agriculture ministry from OCP of Morocco.

Of these, some 440,000 tonnes of DAP fertiliser will be imported at a cost of over Tk 21.55 billion (Tk 2,155.77 crore) while 360,000 tonnes of TAP fertiliser will be imported at a cost of Tk 13.37 billion (Tk 1,337.19 crore) from the Moroccan company.

The committee gave its nod to a proposal of Bangladesh Chemical Industries Corporation (BCIC) to import 30,000 tonnes of phosphoric acid from two firms -- Gentrade FZE, UAE and Aris Fertiliser Group Pte, Singapore -- at a cost of Tk 1.06 billion (Tk 106.24 crore).

A proposal of the Bangladesh Power Development Board (BPDB) under the Power Division to award a contract to local firm Ideal Electrical Enterprise Ltd., to supply and install six power substations on turnkey basis at a cost of Tk 690.4 million (Tk 69.04 crore) received approval of the cabinet body.

These substations will be set up in different locations in Mymensingh under the Power Distribution Development Project, Mymensingh.

The committee re-approved a proposal of the Rajshahi WASA (Water and Sewerage Authority) to award Tk 27.11 billion (Tk 2,711.87 crore) contract to Hunan Construction Engineering Group Co. Ltd., to construct a surface water treatment plant in Rajshahi.

The change in the name of the firm required the re-approval of the cabinet body, said cabinet division’s additional secretary Abu Saleh Mostafa Kamal while briefing on the issue.

A proposal of the Roads and Highways Department to re-process the purchase of 65 wreckers from Ensol Multiclean Equipments Pvt. Ltd., India at a cost of Tk 1.05 billion (Tk 104.98 crore) was approved.

The purchase will be completed under the road infrastructure constructions, repairing, and maintenance project of the Roads and Highways Department.

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