TCB to be made limited co: Zillur

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FE Report
State-run Trading Corporation of Bangladesh (TCB) will be transformed into a public limited company to make it capable of playing a significant role in stabilising prices of essential commodities in the local market, commerce adviser Hossain Zillur Rahman said Wednesday.
He was exchanging views with journalists at the secretariat.
The adviser said since its inception in 1972, the TCB had been the main national entity to conduct the country's import and export businesses. But in the context of the expansion of private entrepreneurship in the country as a result of market-based economy the TCB has contracted its activities.
In the changed situation at home and abroad due to global economic crisis, the importance of a dynamic, public-oriented and an efficient national organisation, like TCB, is being felt by all concerned in Bangladesh as such government organisations are playing significant and active role in foreign trade in many countries of the world, including our neighbouring states, Dr Zillur said.
In the recent past, the country witnessed abnormal price hike of essential items in the local market. Of the essentials, prices of six commodities went up beyond the reach of the common people. Bangladesh is to depend on other countries regarding the six items. The items are edible oil, wheat (flour), sugar, onion, pigeon-pea and milk powder, he said.
Despite untiring efforts by the government to keep the prices of essentials within the reach of the low income group by taking different measures, the people could not get results as expected as there is no effective public organisation in the country to deal the issue. That is why, the government has taken move to turn it into a goal-oriented and effective national enterprise, the adviser said.