Business Desk :
The 10th Private Sector Development Policy Coordination Committee (PSDPCC) meeting took place at the Prime Minister’s Office under the chairmanship of Md. Nojibur Rahman, Principal Secretary to the Prime Minister recently.
Nihad Kabir, President of MCCI, President of Dhaka Chamber of Commerce and Industry, Abul Kasem Khan, Sr. Vice President, FBCCI Sheikh Fazle Fahim, Saiful Islam, President of LFMEAB, President of Bangladesh Tannery Association, Shahin Ahmed and Chairman, BFFLLFEA Mohiuddin Ahmed Mahin were present, among others, and spoke on the occasion.
Khandker Anwarul Islam, Senior Secretary of Bridges Division was also present, said a statement.
As part of updating the implementation status of the 9th PSDPCC meeting, BUILD CEO Ferdaus Ara Begum informed that out of 59 reform proposals submitted through the committee 12 have already been implemented while another 22 are in the process of implementation, where 28 will need further review.
The meeting discussed in details about the status of other reforms proposals vital for investment and business expansion. The meeting requested for continuous follow-up by the secretariat so that implementation can be much more speeder. The meeting also suggested some time line for quick implementation of suggested reforms.
For extending 4.0 per cent interest rate for tea sector as like as other agricultural products, the Chair wanted to know the progress while Nihad Kabir, President of MCCI clarified the situation referring that a fund release request is waiting to be disbursed through Bangladesh Krisi Bank and she requested the Ministry of Commerce (MOC) to act positively on this issue.
It was decided that MOC will initiate the issue to implement through the Ministry of Finance and will report within 3 months.
In regard to a proposal for a circular to declare Jute as agro-processed sector, the Principal Secretary informed that the announcement in this regard will come soon.
For the simplification of repatriation policy, Member, BIDA Mainul Islam informed that a guideline for repatriation of royalties, technical know-how and other fees is in process and will be circulated soon. BUILD has also put forward comments on the guideline.
Secretary, Ministry of Commerce Subhashish Bose informed that value addition criterion for nontraditional export products, a list of non-traditional products, definition of Performa Invoice, definition of deemed export will be included in the upcoming Export and Import Policy.
In regard to the Quarantine Rules 2017, DG, Department of Agricultural Extension informed that the policy will be circulated soon.
In case of enhancing the paid up capital, Saiful Islam, President of LFMEAB requested to enhance the amount mentioning that even there is a decision for enhancement of the amount from the present level of BDT 100 million but the implementation is delayed.
The meeting also wanted to know why the Boiler Act of 1923 has not yet been updated.
Additional Secretary of Ministry of Industries told the meeting that MOI is working on this issue and in this thread she also informed that enhancement of manpower of the Boiler office is under the active consideration of the government and for this MOI has sent a proposal.
In response to a coordinated CSR Policy, draft has been prepared and waiting for approval of Banking Division informed Fouzia Zafrin, Additional Secretary, Planning Division, Ministry of Planning. As the strategic partner and secretariat of PSDPCC, BUILD will be working for more follow-up, one to one meeting in collaboration with PMO so that implementation of reforms can be done sooner requested by the Chair.
BUILD also placed two reform policy papers and which includes Export Competitiveness of Leather Footwear Industry in Bangladesh and Policy Reforms for Plastic Sector.
While underscoring a reform for reducing lead time for importing raw materials for leather and leather goods, the principal secretary informed that BIDA is working for ease of doing business, ASYCUDA World when will be implemented properly, lead time problem can be resolved.
Mahbubul Alam, Chairman, BUILD and President, Chittagong Chamber of Commerce & Industry added that in order to reduce lead time rather depending on port fully, rail connectivity can increased and huge unused land under Ministry of Railway can be used for warehousing and dumping of goods.
In the reform policy paper, there was a request for efficiency of port handling, Sr. Secretary Bridges division informed that in Bangladesh Computerised Terminal Management System(CTMS) is in place which has been practiced in Singapore, but it can not be implemented properly because of some supporting infrastructural deficiency. In this respect Trade logistics should integrated in a holistic manner, which was echoed by FBCCI Vice President. In this regard activities of Ministry of Shipping, NBR and BIDA need to be aligned. CEO, PPP office Syed Afsor H Uddin informed that they are working for privatization of three ports.
For, tax at source for repatriation and inconsistent policies in the Income Tax ordinance, A F M Shahriar Molla, Member, Customs, Bond, Export & IT , NBR informed that some reforms will very likely appear in the upcoming budget.
In course of discussion on simplification of Plastic Sector, a Plastic Policy is in process as informed by the Ministry of Industries. Jashimudin, President, BPGMEA requested for similar policy benefits for plastic and all other export oriented non traditional sector. Endorsing the proposal of BUILD he requested to acknowledge deemed export by making EXP mandatory.
Mentioning, a separate Economic Zone for plastic, there was a discussion , Dr M Emdadul Haque, Executive Member, BEZA informed that it needs to be approved in the governing board of BEZA. The meeting requested to have the BEZA meeting as soon as possible.
The 10th Private Sector Development Policy Coordination Committee (PSDPCC) meeting took place at the Prime Minister’s Office under the chairmanship of Md. Nojibur Rahman, Principal Secretary to the Prime Minister recently.
Nihad Kabir, President of MCCI, President of Dhaka Chamber of Commerce and Industry, Abul Kasem Khan, Sr. Vice President, FBCCI Sheikh Fazle Fahim, Saiful Islam, President of LFMEAB, President of Bangladesh Tannery Association, Shahin Ahmed and Chairman, BFFLLFEA Mohiuddin Ahmed Mahin were present, among others, and spoke on the occasion.
Khandker Anwarul Islam, Senior Secretary of Bridges Division was also present, said a statement.
As part of updating the implementation status of the 9th PSDPCC meeting, BUILD CEO Ferdaus Ara Begum informed that out of 59 reform proposals submitted through the committee 12 have already been implemented while another 22 are in the process of implementation, where 28 will need further review.
The meeting discussed in details about the status of other reforms proposals vital for investment and business expansion. The meeting requested for continuous follow-up by the secretariat so that implementation can be much more speeder. The meeting also suggested some time line for quick implementation of suggested reforms.
For extending 4.0 per cent interest rate for tea sector as like as other agricultural products, the Chair wanted to know the progress while Nihad Kabir, President of MCCI clarified the situation referring that a fund release request is waiting to be disbursed through Bangladesh Krisi Bank and she requested the Ministry of Commerce (MOC) to act positively on this issue.
It was decided that MOC will initiate the issue to implement through the Ministry of Finance and will report within 3 months.
In regard to a proposal for a circular to declare Jute as agro-processed sector, the Principal Secretary informed that the announcement in this regard will come soon.
For the simplification of repatriation policy, Member, BIDA Mainul Islam informed that a guideline for repatriation of royalties, technical know-how and other fees is in process and will be circulated soon. BUILD has also put forward comments on the guideline.
Secretary, Ministry of Commerce Subhashish Bose informed that value addition criterion for nontraditional export products, a list of non-traditional products, definition of Performa Invoice, definition of deemed export will be included in the upcoming Export and Import Policy.
In regard to the Quarantine Rules 2017, DG, Department of Agricultural Extension informed that the policy will be circulated soon.
In case of enhancing the paid up capital, Saiful Islam, President of LFMEAB requested to enhance the amount mentioning that even there is a decision for enhancement of the amount from the present level of BDT 100 million but the implementation is delayed.
The meeting also wanted to know why the Boiler Act of 1923 has not yet been updated.
Additional Secretary of Ministry of Industries told the meeting that MOI is working on this issue and in this thread she also informed that enhancement of manpower of the Boiler office is under the active consideration of the government and for this MOI has sent a proposal.
In response to a coordinated CSR Policy, draft has been prepared and waiting for approval of Banking Division informed Fouzia Zafrin, Additional Secretary, Planning Division, Ministry of Planning. As the strategic partner and secretariat of PSDPCC, BUILD will be working for more follow-up, one to one meeting in collaboration with PMO so that implementation of reforms can be done sooner requested by the Chair.
BUILD also placed two reform policy papers and which includes Export Competitiveness of Leather Footwear Industry in Bangladesh and Policy Reforms for Plastic Sector.
While underscoring a reform for reducing lead time for importing raw materials for leather and leather goods, the principal secretary informed that BIDA is working for ease of doing business, ASYCUDA World when will be implemented properly, lead time problem can be resolved.
Mahbubul Alam, Chairman, BUILD and President, Chittagong Chamber of Commerce & Industry added that in order to reduce lead time rather depending on port fully, rail connectivity can increased and huge unused land under Ministry of Railway can be used for warehousing and dumping of goods.
In the reform policy paper, there was a request for efficiency of port handling, Sr. Secretary Bridges division informed that in Bangladesh Computerised Terminal Management System(CTMS) is in place which has been practiced in Singapore, but it can not be implemented properly because of some supporting infrastructural deficiency. In this respect Trade logistics should integrated in a holistic manner, which was echoed by FBCCI Vice President. In this regard activities of Ministry of Shipping, NBR and BIDA need to be aligned. CEO, PPP office Syed Afsor H Uddin informed that they are working for privatization of three ports.
For, tax at source for repatriation and inconsistent policies in the Income Tax ordinance, A F M Shahriar Molla, Member, Customs, Bond, Export & IT , NBR informed that some reforms will very likely appear in the upcoming budget.
In course of discussion on simplification of Plastic Sector, a Plastic Policy is in process as informed by the Ministry of Industries. Jashimudin, President, BPGMEA requested for similar policy benefits for plastic and all other export oriented non traditional sector. Endorsing the proposal of BUILD he requested to acknowledge deemed export by making EXP mandatory.
Mentioning, a separate Economic Zone for plastic, there was a discussion , Dr M Emdadul Haque, Executive Member, BEZA informed that it needs to be approved in the governing board of BEZA. The meeting requested to have the BEZA meeting as soon as possible.
