The act was introduced to ensure uninterrupted supply of electricity and energy
The cabinet has approved a proposal to extend the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act 2010 for another five years to 2026.
The approval came from a weekly meeting on Monday with Prime Minister Sheikh Hasina in the chair.
The premier joined the meeting from her official residence Ganabhaban while her cabinet colleagues got connected from the cabinet division of the Bangladesh Secretariat.
In a briefing following the meeting, Cabinet Secretary Khandker Anwarul Islam said: "The proposed law was brought to extend five more years the tenure of the existing law which is going to expire this year while its effectiveness is quite satisfactory."
He said that the cabinet gave final consent to the draft of the Quick Enhancement of Electricity and Energy Supply (Special Provision) (Amendment) Bill, 2021.
The bill was brought to ensure uninterrupted supply of electricity and energy to support the government's move to turn Bangladesh into a higher middle-income country by 2030 and a developed one by 2041.
He added that the tenure of the special provision was enacted in 2010 and was extended several times earlier.
The cabinet secretary said no change except time extension has been made to the proposed law.
The cabinet also gave final approval to the draft of the Public Debt Bill, 2021 to make the existing law time-befitting.
Anwarul Islam also said the Public Debt Act, 1944 is a very old law and was extended several times since the debt system witnessed a radical change, adding that, the Finance Division designed the new law.
He said the proposed law assured the people of a guarantee that the government will pay the debt they will take from the people.
The cabinet secretary said a new provision was also incorporated in the proposed law that allows running a Shariah-based deposit system alongside the normal one.
He added that if anyone provides false information in obtaining the issued
certificates under the government security and saving certificate schemes, he or she would face a maximum of six-month imprisonment and Taka one lakh fine or both.
The meeting also approved in principle the draft of Bangladesh Police (Subordinate Employees) Welfare Fund Bill, 2021 to replace an ordinance of the military regime.