Photo: BSS

DHAKA, Oct 29, 2025 (BSS) - The 15th Private Sector Development Policy Coordination Committee (PSDPCC) convened on Tuesday, at the Chief Adviser’s Office (CAO), chaired by M Siraj Uddin Miah, Principal Secretary to the Chief Adviser. 

The meeting strongly underscored the critical need for business process simplification through digitization and revisiting several trade and investment policies to reduce business costs, time, and processes, specifically addressing challenges expected after Bangladesh’s graduation from Least Developed Country (LDC) status.

In opening remarks, Dr. Ahmed Ullah FCMA, DG, CAO, introduced the session. Ferdaus Ara Begum, CEO of BUILD, provided an update, noting that 15 of the 37 recommendations from the 14th PSDPCC meeting have been successfully implemented. 

Significant initiatives already realized include the issuance of a Statutory Regulatory Order (SRO) permitting duty-free import of raw materials for partial exporters, a reduction in duties on chemicals used in the tannery sector, and the introduction of an ESCROW Policy by Bangladesh Bank. 

Furthermore, progress has been made toward formulating a CSR Policy and amending the Companies Act. The use of Database of Informal Businesses (DBID) for e-commerce and informal entrepreneurs was also noted as an encouraging step. 

Despite these achievements, Ferdaus Ara Begum stressed that more effort is required, particularly in advancing leather sector development and solar power generation.

The Principal Secretary, M Siraj Uddin Miah, acknowledged the unimplemented proposals and announced that the Government has launched Nagorik Sheba, a single-window platform designed for citizen services. Through this platform, individuals can now access 12 essential services, including the issuance of trade licenses.

Regarding policy reform, the Principal Secretary advised the Ministry of Commerce (MoC) to establish a dedicated committee to propose necessary amendments to the Import Policy Order (IPO). 

These amendments are needed to ensure UD/UP (Utilization Declaration/Utilization Permission) declarations are made against back-to-back Letters of Credit (L/Cs) for partial exporters across all industrial sectors. 

He also requested the MoC implement the Export Roadmap for the Leather Sector, a plan developed by BUILD with support from the EC4J project.

Crucially, the Principal Secretary urged the MoC to lead an inter-ministerial meeting to revise the Companies Act 1994 by a hard deadline of November 15, 2025. He also emphasized the necessity of deadline-based implementation for all directives and advised forming specialized committees to streamline UD/UP simplification and policies related to trade licenses.

Mahbubur Rahman, Secretary of the MoC, informed the committee that the new Import Policy Order had already been submitted to the Cabinet Division two weeks prior for comments and is expected to be implemented shortly. 

He added that e-Commerce policy will be implemented by integrating it with the Consumers Protection Act 2025.

A central focus of the simplification efforts was trade licensing. A policy paper presented emphasized the urgent need for a unified trade license policy across all local authorities, the implementation of a 5-year Trade License policy, and the reduction of undocumented costs.

Seeking radical simplification, Dr Nazneen Kawshar Chowdhury, Executive Chairman of NSDA, recommended that the Business Identification Number (BIN) be utilized as a unique identification number, replacing the need for a separate Trade License or business registration from a single location.

Expanding on this idea, Abul Kasem Khan, Chairperson of BUILD, proposed that the government recognize bank accounts as an alternative to trade licenses. 

He argued this measure would not impact revenue generation but would significantly reduce procedural complexity, which currently poses a major barrier to entrepreneurship. 

Furthermore, Mohammad Shahjahan Miah, Secretary (in-charge) of LGD, disclosed plans to implement a project in collaboration with UNDP to enable people to obtain Trade Licenses from home.

On customs issues, Mohammad Mahbubur Rahman Patwary, Joint Secretary, Internal Resources Division (IRD), confirmed that the NBR is working to resolve the long-standing issue of the Central or Common Bonded Warehouse. 

A draft SRO has been prepared and is anticipated to be approved soon.

Addressing environmental concerns, Dr. Farhina Ahmed, Secretary, Ministry of Environment, Forest and Climate Change (MoEFCC), urged the Ministry of Industries (MoI) to take an active role in national waste management. 

She also called upon the National Board of Revenue (NBR) to resolve tax-related challenges hindering waste management initiatives. 

Relatedly, Md Shaheen Ahmed, President of the Bangladesh Tanners Association (BTA), requested government action to ensure the procurement of tannery solid waste through DTIEWTECL to enhance environmental management within the sector. 

The MoI also informed the meeting about the potential investment in and use of Tannery Solid Waste management sectors.