Dhaka: Agriculture Minister Begum Matia Chowdhury, also in charge of the prime minister’s office in parliament, on Sunday placed the ‘Bangladesh Investment Development Authority Bill, 2016’ in the Jatiya Sangsad.

The bill is aimed at setting up a new authority by merging together the Board of Investment (BoI) and the Privatisation Commission for encouraging local and foreign investment in the private sector.

Earlier, the cabinet approved in principle the draft of the proposed law on 31 August 2015.

The bill would help boost investment in the country and ensure efficient use of unused lands of the public sector industries.

According to the bill, all officials and employees working under the BoI and the Privatisation Commission would be transferred to the newly formed authority.

Besides, all the assets and liabilities of the BoI and the Privatisation Commission would also be owned by the Bangladesh Investment Development Authority.