RRC forms 3 bodies to identify areas where changes are needed

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M Azizur Rahman
The Regulatory Reforms Commission (RRC) has constituted three separate committees headed by the chiefs of National Board of Revenue (NBR), Board of Investment (BoI) and Bangladesh Bank to identify the areas for necessary changes in the existing regulations to ensure business-friendly environment in the country.
Each of three seven-member committee, headed by the NBR chairman, the BoI executive chairman and the governor of Bangladesh Bank respectively consists of businessmen and senior government officials. The committees will identify all unnecessary rules and sub-rules for repealing those, if necessary. They will also point out the complexities that are created while abiding by the existing rules with the aim of simplifying the related procedures.
If necessary, they will recommend for enacting new rules and regulations to attract investments, both foreign and domestic, to ensure the country's competitiveness with other countries.
The committee will be able to co-opt any new members, if required, to expedite the pace of their activities, RRC member MA Rouf Chowdhury told the FE Tuesday.
The RRC, constituted on October 30 last, however, submitted its first set of recommendations to the Chief Adviser (CA) Fakhruddin Ahmed Tuesday.
The commission recommended for posting of all gazette notifications on the website to ensure smooth access on the part of all concerned to all necessary information relating to all the government regulations.
It also suggested for disseminating information on any regulation on the web for at least four weeks prior to its formulation.
The RRC chairman Akbar Ali Khan submitted these recommendations to the CA Fakhruddin Ahmed in the presence of other commission members.
The CA has agreed in principle for implementation of the RRC's first set of recommendations, sources close to the RRC said.
The RRC, with a total of 17 members, was constituted for updating the centuries-old rules and regulations of the country to infuse dynamism into governance, administration and the economy.
Investment, trade and commerce-related reforms are the priority-works of the commission.
The RRC is set to recommend the necessary regulatory reforms by October next before expiry of the tenure of the caretaker government.