Dhaka Customs House automation launched under PPP initiative

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FE Report Finance Minister AMA Muhith Monday said the government would appoint for the first time a chief executive for public-private partnership (PPP) cell within this month to expedite activities PPP. "We've interviewed prospective candidates. We're expecting to finalise appointment procedures this month," the Finance Minister said while putting into effect the commercial launch of the automation of Dhaka Customs House (DCH) at a city hotel. The Finance Minister also laid emphasis on attracting more local investment under the PPP projects for enhancing economic growth of the country. The Dhaka Chamber of Commerce and Industry (DCCI) in collaboration with International Finance Corporation (IFC) implemented automation of the country's second largest customs house to ensure hassle-free business activities. Mr Muhith said the government has received a bunch of PPP projects. "But most of them have weaknesses and lack of innovative ideas." He added. The Finance Minister, who joined the programme as chief guest, said land records might be a sound innovative idea for the PPP. The automation launching porgramme has coincided with the two other events --- national conference on PPP for rapid economic growth and BUILD, an institution to assist in the development of the country's private sector. Commerce Minister Muhammed Faruk Khan, Industries Minister Dilip Barua, Bangladesh Bank (BB) governor Atiur Rahman, chairman of National Board of Revenue (NBR) Nasir Uddin Ahmed joined the programme Mr Muhith said Bangladesh's growth rate is poor, even it is viewed by Asian standards. "We've been experiencing growth on an average 4.0 to 5.0 per cent over the last 15 years and this year it will be 7.0 per cent," he noted. "But I think 7.0 per cent is still a low growth rate," The Finance Minister added. The minister said Bangladesh now needs investment to expedite its growth rate. He said public sector investment is poor and the chief aim of this investment is to facilitate the large domestic and foreign direct investments. Addressing the meeting, Industries Minister Dilip Barua said the PPP is a powerful paradigm that has emerged in many countries to improve mostly the infrastructure of a country. "It is a win-win relationship between the private and government sectors," he added. Bangladesh Bank governor Atiur Rahman said there was no major imbalance in our economy that could seriously impair the continuing growth spurred by the toils of our working masses and the initiatives of our entrepreneurs. "CPI inflation is indeed somewhat beyond the comfort zone for some months now, but this is not unique to us. Our fast-growing close neighbours are also in the similar situation," the BB governor said. He said: "We expect to see CPI inflation in Bangladesh to start easing by early months of 2012 with the central bank's ongoing proactive liquidity management coupled with moderation of global commodity prices." The governor said the current weaknesses in our capital market are also not exceptional; stock markets across the globe are now jittery from weak growth and imbalances in major advanced economies. NBR chairman Nasir Uddin Ahmed said Dhaka Customs House (DCH) automation is one of the most successful PPPs in the country. Addressing the function, DCCI president Asif Ibrahim said DCH automation will bring transparency and acceptability with a target to enhance revenue earnings of the government. Former DCCI president Hossain Khaled presented a keynote on BUILD. Acting president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jashim Uddin, vice president of Metropolitan Chamber of Commerce and Industry Nihad Kabir also addressed the programme.