Taking up initiatives for reforming policies stressed

DHAKA, August 09, 2018 : Speakers at a meeting today urged the authorities concerned to go for reforming policies in the trade and business sector suiting to demands of entrepreneurs.

They made the call at the 11th Private Sector Development Policy Coordination Committee (PSDPCC) meeting at the Prime Minister’s Office under the chairmanship of Chief Coordinator for SDG Affairs in the Prime Minister’s Office M Abul Kalam Azad, said a press release.

Organized by Business Initiative Leading Development (BUILD) and the Prime Minister’s Office, the meeting initially did the stocktaking of the last PSDPCC meetings and underscored the policy reforms proposed and implemented through the recent budget.

Among others, Commerce Secretary Shubhashish Bose and BUILD Chief Executive Officer Ferdaus Ara Begum were present.

The meeting discussed in details about the status of other budgetary reforms proposals vital for investment and business expansion.

It requested for continuous follow-up by the secretariat so that implementation can be much speeder. The meeting also suggested some timeline for quick implementation of recommended reforms.

Abul Kalam Azad said the authorities should give necessary time to the entrepreneurs in the SRO as they can run their businesses smoothly.

He urged the authorities concerned to take implementable policies in the national budget.

Ferdaus Ara Begum emphasized on the inclusion of the definition of commercial sample both in the upcoming Import Policy Order 2018-21 and Export Policy 2018-21, on which import of sample need to be declared as tax and duty free and no penalty should be imposed on the import of sample without opening an Letter of Credit (LC) as sample items has no commercial value.

She also drew the attention of the government to solve the existing sample testing related problems by increase the capacity of Bangladesh Standard Testing Institute (BSTI) and Bangladesh Accreditation Board (BAB).