Cabinet approves ‘concerted law’ to do away with separate laws to run government trusts.
The government has decided to bring in a concerted law for the management of public sector trusts.
Once it is enacted, there will be no need for separate laws for the formation of each trust.
A decision to this regard was taken at a regular Cabinet meeting chaired by Prime Minister Sheikh Hasina on Monday, Cabinet Secretary Muhammad Musharraf Hossain Bhuiyan said.
“The existing Trusts Act only deals with the functioning of trusts in the private sector. As there is no umbrella law for the management of government trusts, at present each trust has separate laws,” he told reporters after the meeting.
He said once this ‘umbrella law’ was enacted, there would be no need to frame separate laws to establish any trust in future.
After taking approval of the prime minister, the law ministry’s legislative division was given the responsibility to formulate the law, Bhuiyan said.
“It prepared the draft law and the Cabinet on Monday took a final decision on it,” he added.
The Cabinet on Monday also approved in principle the draft of the Bangabandhu Science and Technology Fellowship Trust Act.
Once promulgated, this act would allow the science and technology ministry to give fellowships to those working on these fields, said the Cabinet secretary.
He added that those conducting scientific and postdoctoral researches or doing PhD or masters in science would also get assistance under this law.
The trust’s structure, goals, management, trustee board’s structure, the board’s responsibilities, fund management, budget and accounts along with other matters were detailed in the draft law, Bhuiyan said.
He said the government would also be able to formulate guidelines in line with this law.
The science and technology minister or state minister would be made the chairman of the 13-strong trustee board. The ministry’s secretary would be the vice chairman.
The Cabinet secretary said the government would provide the funds for this trust, but added that funds would also be collected from other sources.