Dhaka: The Cabinet Committee on Economic Affairs has given the green light to a proposal aimed at reducing the tender submission period for importing refined petroleum products. This decision, finalized on Tuesday, is set to streamline the procurement process, specifically targeting a reduction from 42 days to 21 days for tender submissions. The new timeline will be effective for the Bangladesh Petroleum Corporation’s (BPC) import activities scheduled between September and December 2026.

According to United News of Bangladesh, the proposal to shorten the tender period was one of two significant energy-related proposals presented by the Energy and Mineral Resources Division. The second proposal, also approved during the meeting, involves processing a liquefied natural gas (LNG) supply deal with Gunvor USA LLC. This agreement will be facilitated through a government-to-government (G2G) procurement method, covering both short and long-term supply requirements for Bangladesh.

The meeting, held at the Bangladesh Secretariat, was chaired by Finance Minister Amir Khosru Mahmud Chowdhury. The approved measures are part of an ongoing effort to ensure the timely and efficient procurement of essential energy resources, crucial for the country’s energy security and economic stability. Both proposals are anticipated to bolster Bangladesh’s energy supply framework, aligning procurement processes with international standards and ensuring the timely delivery of vital fuel supplies.