Bangladesh: PM cancels purchase of Energy Divisions Survey vessel
Prime Minister Sheikh Hasina has cancelled the purchase of an expensive research vessel for use in the Bay of Bengal to do seismic exploration and geological and oceanographic studies.
The prime minister is also the minister in-charge of the Ministry of Power, Energy and Mineral Resources.
On October 15, Director SM Tarikul Islam of the Prime Minister’s Office (PMO) sent a letter to the Energy and Mineral Resources Division (EMRD) secretary stating that the prime minister has ordered the cancellation of the purchase of a multi-role offshore survey and research vessel.
If needed, surveys can be carried out by renting survey vessels, the letter said.
Following this letter, the EMRD sent a letter on October 23 ordering the chairman of state-owned Bangladesh Oil, Gas and Mineral Corporation, known as Petrobangla, to abstain from buying the vessel.
The government has already lost about Tk40 crore on this project.
Early this year, under orders from EMRD, Petrobangla began the process of acquiring a multi-role offshore survey and research vessel that is under construction or has been newly constructed but not used, or used for not more than five years, within a budget of approximately Tk1,200 crore.
The “highly advanced” ship would have been acquired under the Speedy Supply of Power and Energy (Special Provision) Act 2010, which is generally applied to purchases that are of immediate need and enjoys various immunities, including avoiding government tenders.
The Dhaka Tribune inquired about the justifications of making such a costly purchase, and found that while a research vessel might be useful in the hands of Geological Survey of Bangladesh or the National Maritime Institute, for Petrobangla it would be a burden.
Currency conversions
1 crore (or 100 lakhs) is equivalent to 10 million. Hence, 100 crores is the same as 1,000 million or 1 billion.
- 400,000,000 INR is equal to 6,151,102 USD @ 65.03 Indian rupees to 1 US dollar.
- 400,000,000 INR is equal to 5,300,456 EUR @ 75.47 Indian rupees to 1 Euro.
- 400,000,000 INR is equal to 4,686,618 GBP @ 85.35 Indian rupees to 1 British pound.
- 400,000,000 INR is equal to 7,874,636 CAD @ 50.8 Indian rupees to 1 Canadian dollar.
- 400,000,000 INR is equal to 8,003,682 AUD @ 49.98 Indian rupees to 1 Australian dollar.
Rumour: WG Colombus could be sold to Bangladesh in the near future. Keep an eye out in Farsund, Norway.