New import policy to bolster TCB
Wednesday, 29 July 2009
Sheikh Shahariar Zaman
The import policy for 2009-12 will have provision for strengthening the Trading Corporation of Bangladesh (TCB), said sources in the commerce ministry.
Some restrictions were imposed on the TCB in the just expired import policy, which will be addressed in the new policy, the sources said.
The import policy for 2006-09 expired on June 30.
"The new policy, almost finalised, is going to be placed before the economic affairs committee of the cabinet division for approval soon," the official said.
The government has already taken some steps to revitalise the moribund organisation by directing it to import essentials for the holy month of Ramadan.
"It is a difficult task, as TCB remained ineffective for a long time," the official explained.
The TCB is going to import edible oil, sugar, chick peas, onion and pulses to ensure smooth supply in Ramadan.
The cabinet committee on government purchase has recently allowed the TCB to procure 25,000 tonnes of edible oil from private suppliers.
In the proposed import policy, article 32 and 68 (1) of the Public Procurement Act have been relaxed, which will help the trading arm of the government to procure any item either through open tender or direct purchase, the official said.
"Commerce minister can give approval for procurement of goods worth Tk 500 million through TCB and this will also be incorporated in the policy," he said.
If the purchase crosses Tk 500 million limit, the bill is sent to the cabinet committee on government purchase for approval.
The security guarantee will be relaxed from 10 per cent to 2 per cent for TCB, he added.
In the new policy, import of power generation equipment will be made easier and encouraged, the official said.
"In rural and urban areas or in small towns, if anybody wishes to supply power from generators, it will be encouraged and they will be given some incentives under the new import policy," he added.
The import policy for 2009-12 will have provision for strengthening the Trading Corporation of Bangladesh (TCB), said sources in the commerce ministry.
Some restrictions were imposed on the TCB in the just expired import policy, which will be addressed in the new policy, the sources said.
The import policy for 2006-09 expired on June 30.
"The new policy, almost finalised, is going to be placed before the economic affairs committee of the cabinet division for approval soon," the official said.
The government has already taken some steps to revitalise the moribund organisation by directing it to import essentials for the holy month of Ramadan.
"It is a difficult task, as TCB remained ineffective for a long time," the official explained.
The TCB is going to import edible oil, sugar, chick peas, onion and pulses to ensure smooth supply in Ramadan.
The cabinet committee on government purchase has recently allowed the TCB to procure 25,000 tonnes of edible oil from private suppliers.
In the proposed import policy, article 32 and 68 (1) of the Public Procurement Act have been relaxed, which will help the trading arm of the government to procure any item either through open tender or direct purchase, the official said.
"Commerce minister can give approval for procurement of goods worth Tk 500 million through TCB and this will also be incorporated in the policy," he said.
If the purchase crosses Tk 500 million limit, the bill is sent to the cabinet committee on government purchase for approval.
The security guarantee will be relaxed from 10 per cent to 2 per cent for TCB, he added.
In the new policy, import of power generation equipment will be made easier and encouraged, the official said.
"In rural and urban areas or in small towns, if anybody wishes to supply power from generators, it will be encouraged and they will be given some incentives under the new import policy," he added.