Bangladesh Bank has decided to float a tender to procure one-taka and two-taka coins to meet demand as it fears the country would face coin crisis in the future, official said on Thursday.

“After canceling the previous tender of tagging health conditions, the new tender will float within a month to overcome shortage of metal coins in the country,” said a senior official of Bangladesh Bank.

The official also said the central bank fears coin crisis in the future as six local and international companies have lodged complaints against the tender procedure.

The new tender committee for procurement of metal coins is likely to sit today (Sunday) at the Bangladesh Bank to finalise the conditions for procurement of the coins, sources in Bangladesh Bank said.

The central bank estimated that two billion pieces of coins will be required till December 2013 as most of the paper notes have torn out during last five years since 2007, they said.

The conditions for tender might be amended as the committee wants to drop the provision of DNA tests of DIN 1061, much essential for metal coins to make sure that users are secured from all health risks from the coins may carry.

The central bank did not consider the health issues as it initiated the new tender process with DNA tests, they added.

The first tender process was canceled after six companies lodged complaints against it as the condition which asked to ensure health hazards with the coins.

Meanwhile, the official sources said different companies from Japan, France, Canada, the UK, Netherlands and Salvia raised complaints against the condition of DNA test.

Earlier, a Malaysian company failed to supply coins after receiving work order from the central bank, while another Indonesian company had no sufficient experiences.

Indonesian company, however, spent huge central bank funds to supply five-taka paper currency. Five foreign companies have sufficient experience to make coins.

Some metal coin and paper note manufacturing factories have procured their blank sheet from other sources.

Blank sheets are usually made from different types of components of products, sources in Bangladesh Bank said. Bangladesh may be facing risk in procuring coins and paper notes from Indian companies. Usually, extra blank sheets are destroyed in present of officials of Bangladesh Bank, sources said.

The central bank has re-allocated Tk 1.2 billion in the next fiscal’s budget. The cost of procurement of two types of coins is estimated at Tk 1.4 billion.

The Daily Sun/Bangladesh/ 1st July 2012