DFIM Circular Letter No. 16: Saving Expense of Electricity and Fuel

Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh

Department of Financial Institutions and Markets DFIM Circular Letter No. 16

To: The Chief Executive/Managing Directors All Financial Institutions Operating in Bangladesh.

Subject: Saving of Electricity and Fuel Expenses in the Operation of Financial Institutions.

Dear Sir,

In light of the current global economic situation, and with reference to the Memorandum No. 07.101.020.00.00.00.001.2009-16 dated 21/07/2022 from the Budget Sub-Section-1, Branch-1 of the Budget Division, Ministry of Finance, Government of the People's Republic of Bangladesh, regarding certain cost-saving/reduction measures in the operation and development budget for the fiscal year 2022-23, you are hereby directed as follows:

a) You must exercise utmost care in saving electricity and fuel expenses in the routine operations of your institution; b) You must save a minimum of 25% of the allocated amount for electricity and fuel at your institution; and c) The allocated amount for the aforementioned sectors shall not be reallocated to any other sector.

2. This order shall remain in force until further orders are issued.

3. This directive is issued under the authority granted by Section 18(c) of the Financial Institutions Act 1993, and it shall take immediate effect.

Yours faithfully,

(Md. Zulkar Nayeen) Director (DFIM) Phone: 9530178

Date: 27 July 2022 12 Srabon 1429