The tenure of the existing law is going to expire this year
The extension of the “Speedy Supply of Power and Energy (Special Provision) (Amendment) Act, 2010” bill was placed in parliament on Wednesday, aiming to boost power supply to the consumers.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid placed the bill in the House with Speaker Shirin Sharmin Chaudhury in the chair.
After placing the bill, the state minister said the proposed bill has been placed in the House for adopting a special provision through amending the act which was enacted in 2010.
Earlier, the cabinet on Monday cleared a proposal for the extension of the Quick Enhancement of Electricity and Energy Supply (Special Provision) Act 2010 for another five years till 2026.
The approval came from the virtual cabinet meeting held with Prime Minister Sheikh Hasina in the chair.
The prime minister joined the meeting from Ganabhaban. Other cabinet members joined the meeting from the secretariat.
"Since the tenure of the existing law is going to expire in 2021, the proposed law was introduced to extend it by another five years till 2026," Cabinet Secretary Khandker Anwarul Islam told reporters after the meeting.
He said the cabinet gave the final approval to the draft of Quick Enhancement of Electricity and Energy Supply (Special Provision) (Amendment) Bill, 2021 to ensure uninterrupted supply of electricity and energy for the sake of making Bangladesh into a higher middle-income country by 2030 and a developed country by 2041.
The tenure of the special provision, enacted in 2010, was extended on several occasions in the past, he said.
"But no change other than time extension has been made to the proposed law," said the cabinet secretary.
Besides, the cabinet gave the final approval to the draft of the Public Debt Bill, 2021 to make the existing one time-befitting.
Islam said the Public Debt Act of 1944 is a very old law, which was extended on several occasions. "Since the debt system witnessed a radical change, the Finance Division designed the new law.”
According to the proposed law, the government will give a precise guarantee against the debt taken by the government from the people that they would get back the deposited money anyhow, he said.
A new provision was also incorporated in the draft law for running a Shariah-based deposit system alongside the normal deposit system, said the cabinet secretary, adding the public would be informed about the profits or interest against their deposits.
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, Tk1 lakh fine or both.