TCB likely to be turned into a public limited co
Tuesday, 17 November 2009
Trading Corporation of Bangladesh (TCB), the state-run lone trading arm, is likely to be turned into a public limited company paving the way of making it an active organisation, reports BSS.
TCB sources told the news agency that a committee, formed recently for strengthening the TCB by infusing dynamism in it, submitted a report advocating for turning the trade body into a public limited company and increasing its manpower.
Quoting recommendations of the report, M Khalilur Rahman, TCB chairman told the agency Monday, "There is no alternative to transforming the TCB into a limited company to efficiently deal with the number of countries with whom TCB has to deal."
He said the committee, headed by an additional secretary of the commerce ministry, also recommended increase in at least three directors from the present one for proper functioning of the board of directors of the TCB.
Commerce Minister Faruk Khan told the agency that the recommendation of making the TCB a limited company was under consideration.
But, he said, the government was thinking whether the trading corporation was to be made a public limited company or strengthen it but, keep it as before. More efficient manpower would be recruited for the organisation soon, said Faruk Khan.
Mr Khalil said the TCB had now only 225 staff which was not enough to conduct even a city market. Out of this limited number of staff 59 officials were getting ready to go on leave preparatory retirement (LPR).
At its inception in 1972, the TCB was a manpower- enriched and well-equipped organisation with 1,406 officials. But in course of time its manpower had been downsized and it gradually became an ineffective organisation, said the TCB chairman.
"We are mulling over formulation of a new procurement plan side by side with enlarging its market size from the existing less then seven per cent to 25 per cent aimed at making the TCB a key player in the market," said Rahman.
On the other hand, the TCB chairman said they had also a plan to include perishable items in trading of existing essentials as a part of strengthening the organisation.
Process was underway to build four cold storages in Dhaka, Chittagong, Mongla and Rangpur involving Tk 5.0 billion, said the TCB chief.
TCB sources told the news agency that a committee, formed recently for strengthening the TCB by infusing dynamism in it, submitted a report advocating for turning the trade body into a public limited company and increasing its manpower.
Quoting recommendations of the report, M Khalilur Rahman, TCB chairman told the agency Monday, "There is no alternative to transforming the TCB into a limited company to efficiently deal with the number of countries with whom TCB has to deal."
He said the committee, headed by an additional secretary of the commerce ministry, also recommended increase in at least three directors from the present one for proper functioning of the board of directors of the TCB.
Commerce Minister Faruk Khan told the agency that the recommendation of making the TCB a limited company was under consideration.
But, he said, the government was thinking whether the trading corporation was to be made a public limited company or strengthen it but, keep it as before. More efficient manpower would be recruited for the organisation soon, said Faruk Khan.
Mr Khalil said the TCB had now only 225 staff which was not enough to conduct even a city market. Out of this limited number of staff 59 officials were getting ready to go on leave preparatory retirement (LPR).
At its inception in 1972, the TCB was a manpower- enriched and well-equipped organisation with 1,406 officials. But in course of time its manpower had been downsized and it gradually became an ineffective organisation, said the TCB chairman.
"We are mulling over formulation of a new procurement plan side by side with enlarging its market size from the existing less then seven per cent to 25 per cent aimed at making the TCB a key player in the market," said Rahman.
On the other hand, the TCB chairman said they had also a plan to include perishable items in trading of existing essentials as a part of strengthening the organisation.
Process was underway to build four cold storages in Dhaka, Chittagong, Mongla and Rangpur involving Tk 5.0 billion, said the TCB chief.