In a widely expected decision, the BOJ ditched a policy put in place since 2016 that applied a 0.1% charge on some excess reserves financial institutions parked with the central bank
The prices offered by ID Global Solutions Limited were 67 percent more than the price at which the products had been bought earlier, Finance Minister AHM Mustafa Kamal said after withdrawing the proposal on Nov 27.
After a meeting of the Cabinet Committee on Government Purchase on Thursday, he said it cleared the proposal as the previous decision was taken following “wrong estimates”.
The government would purchase the materials to swiftly meet the growing demand for MRPs, Kamal said.
The MRPs and lamination foils will cost over Tk 530 million.
“We are also trying to move on to e-passport,” the minister said.
Citing the home ministry, he said it would take two three more months to start the distribution of electronic passports.