BB, NBR for cutting power, energy usage 

Amid the ongoing crisis, the Bangladesh Bank and the National Board of Revenue (NBR) have asked to reduce power and energy usage. 

The Bangladesh Bank has asked all banks to take austerity measures as per the government directives. 

In a circular on Tuesday, the central bank’s Banking Regulation and Policy Department said banks have to cut at least 20 per cent of their allocated expenditures on petrol, diesel, gas, and lubricants.

Of this, 10 per cent has to be reduced in the remaining six months (July-December) of this year and another 10 per cent in the first six months (January-June) of next year. 

Besides, in the remaining six months of this year and the first six months of 2023, 25 per cent of the money allocated for power must be saved. The saved money cannot be allocated for or spent on any other purposes.

The cost reduction-related information and documents should be kept at the banks’ head offices and provided to the Bangladesh Bank audit team during the latter’s visit.

The money saved between July and December of the current year should be reflected in the 2022 financial statement while the 2023 statement should reflect the amount saved during January-June of next year.

NBR directives

The NBR has asked its employees to reduce electricity usage by 25 per cent and energy by 20 per cent. It has also asked its staff to be frugal in spending government funds.

The directives were issued in a notice signed by Bashir Ahamed, a member of the NBR admin board, on Monday.

NBR employees have been asked to cut car fuel usage by 20 per cent, and this will be regularly monitored by the office chief. Besides, meetings will mostly have to be conducted online via Zoom and other apps.