Cabinet approves proposal for HR Development Fund

The Cabinet today approved a proposal to constitute the National Human Resources Development Fund (NHRDF) and the National Skill Development Authority (NSDA) aimed at channeling additional fund for the programmes and activities taken for skill development.

"The NHRDF will be constituted under the Finance Division while it will work under Prime Minister`s Office (PMO) supervision to coordinate the activities relating to skill development," cabinet Secretary M Shafiul Alam told a news briefing emerging from the weekly cabinet meeting with Prime Minister Sheikh Hasina in the chair.

Initially, he said, NHRDF would be financed from a project of the Finance Division; Cabinet Secretary said adding that necessary law on formation of the NSDA is at final stage.

The meeting at the Bangladesh Secretariat also approved the draft of the National Drug Policy, 2016 and has given nod in principle to the draft of three legislation- The Cost and management Accountants Act, 2016, The Nazrul Institure Act, 2016, and The National Sports Council Act, 2016.

Alam said the cabinet today approved the draft of the new National Drug Policy to replace the existing one framed in 2005 to promote the potentiality of the pharmaceutical sector at home and abroad.

The policy, he said, also aimed at putting in place an effective measure to check substandard and adulterated drugs, proper marketing, pricing and selling to ensure availability of the essential drugs.

Currently the Bangladeshi medicines are being exported to some 122 countries and the cabinet secretary said therefore "it now appears very crucial to control standard of the drugs".

Alam said the policy incorporated the guidelines of the Good Manufacturing Practice (GMP) of the countries like the UK and USA, which are importing medicines from Bangladesh, and WHO policies as some companies like Square, Incepta and Beximco gained certificates from the WHO.

The Cabinet Secretary said that under the new drug policy, the government would regularly update the prices of the medicines and fix the price of the medicine once a year.

The cabinet approved the Cost and Management Accountants Act, 2016 making the existing law more time-befitting and toughening the punitive actions for illegal and fraudulent practices.

The law will replace the previous "Cost and Management Accountants Ordinance, 1977" which was declared illegal by the Supreme Court in 2010 as it was promulgated during the military regime.

"The Nazrul Institute Act, 2016" and "The National Sports Council Act, 2016" would also replace the existing ordinances framed during the military regime as well.

The draft brought some amendments in necessary areas and was made in Bengali complying with the Supreme Court order, the cabinet secretary said.