RRC's tenure extended for two years more
Saturday, 25 October 2008
Naim-Ul-Karim
The government has extended the tenure of the Regulatory Reforms Commission (RRC) for a further period of two years and asked the body to ensure implementation of its recommendations by the ministries concerned, officials said.
The one-year tenure of the commission expires on October 29 next. On October 30, 2007, the interim government formed the 17-member high-powered commission, which included six private sector experts, to recommend reforms in the country's old administrative and regulatory bodies with a goal for removing obstacles that hurdle investment, commerce and trade.
The officials said the commission will hold a meeting on October 29 with all the ministries, responsible for implementation of recommendations, following instruction received from the chief adviser's office.
Apurba Kumar Biswas, chief executive officer of the RRC, said the commission will discuss progress in implementation of its recommendations at the meeting.
"We have been informed that the tenure of the commission has been extended for a further two-year period to accomplish its tasks," he told the FE.
Apart from this, six RRC subcommittees have been formed to make easy duty exemption and draw back system, capital machinery import clearance process and bonded warehouse licensing, location and environmental clearance certificate, processing and approval of foreign loans, land management and registration, utility services and Foreign Exchange Regulation Act -1947.
Since its first meeting on November 19, 2007, the RRC made a total of 60 recommendations and sent them for approval and implementation to respective ministries through proper channels.
Of these recommendations, the commission officials said, seven were fully and 18 partially implemented.
When asked, a commission official said the pace of the implementation of the recommendations has been very slow due to legal complexities and, in some cases, reluctance of the implementing ministries.
He said the commission in its upcoming meeting to be held with its member secretary and also executive chairman of the Board of Investment Md Kamal Uddin Ahmed in the chair will discuss progress in implementation of the recommendations.
"We have invited senior officials of the implementing ministries to attend the meeting and let us know the progress so that we can brief the CA office about the latest position," a senior official said.
The government has extended the tenure of the Regulatory Reforms Commission (RRC) for a further period of two years and asked the body to ensure implementation of its recommendations by the ministries concerned, officials said.
The one-year tenure of the commission expires on October 29 next. On October 30, 2007, the interim government formed the 17-member high-powered commission, which included six private sector experts, to recommend reforms in the country's old administrative and regulatory bodies with a goal for removing obstacles that hurdle investment, commerce and trade.
The officials said the commission will hold a meeting on October 29 with all the ministries, responsible for implementation of recommendations, following instruction received from the chief adviser's office.
Apurba Kumar Biswas, chief executive officer of the RRC, said the commission will discuss progress in implementation of its recommendations at the meeting.
"We have been informed that the tenure of the commission has been extended for a further two-year period to accomplish its tasks," he told the FE.
Apart from this, six RRC subcommittees have been formed to make easy duty exemption and draw back system, capital machinery import clearance process and bonded warehouse licensing, location and environmental clearance certificate, processing and approval of foreign loans, land management and registration, utility services and Foreign Exchange Regulation Act -1947.
Since its first meeting on November 19, 2007, the RRC made a total of 60 recommendations and sent them for approval and implementation to respective ministries through proper channels.
Of these recommendations, the commission officials said, seven were fully and 18 partially implemented.
When asked, a commission official said the pace of the implementation of the recommendations has been very slow due to legal complexities and, in some cases, reluctance of the implementing ministries.
He said the commission in its upcoming meeting to be held with its member secretary and also executive chairman of the Board of Investment Md Kamal Uddin Ahmed in the chair will discuss progress in implementation of the recommendations.
"We have invited senior officials of the implementing ministries to attend the meeting and let us know the progress so that we can brief the CA office about the latest position," a senior official said.