BUILD extends gratitude to Prime Minister's Office for formulation of National Logistics Policy

The Trustee Board of Business Initiative Leading Development (BUILD) led by its Chairperson Mahbubul Alam paid a courtesy call on Tofazzel Hossain Miah, principal secretary to the prime minister today (22 April) at the Prime Minister's Office. 

BUILD Trustee Board Member and Dhaka Chamber of Commerce and Industry (DCCI) President Ashraf Ahmed attended the meeting, said a press release. 

Speaking on the occasion, Tofazzel Hossain said we need to get out of the shell of traditional methods of engagement with donors and other key stakeholders and stressed on more public private engagement, capital market and foreign direct investment. 

"We are proud that we have held a number of consultations with private sector players while drafting the logistics policy and successfully formulated the logistics policy which needs to be branded across the world," he said. 

Mahbubul Alam, who is also the president of FBCCI, on behalf of BUILD Trustee Board said, "I have the great pleasure of conveying our heartiest congratulations to the leadership of the Prime Minister's Office for formulation of National Logistics Policy on 8 April 2024 and he underlined implementation, demonstration and coordination as the critical parts of the success of the policy.

"The formulation of National Logistics Policy was the ask of the private sector and we stand ready to extend support for implementation of the policy." 

He reiterated that the Prime Minister's Office and BUILD maintain excellent relations marked by more extensive engagement in private sector development for the country. 

BUILD is formally engaged with PMO though Private Sector Development Policy Coordination Committee (PSDPCC) which is the only strategic public sector platform for private sector-related policy review, coordination, identification of investment barriers and fostering public-private cooperation. 

He also requested for the date of holding the next PSDPCC meeting to be held at the end of May 2024. 

To help improve enabled policy environment for private sector development and achieve the strategic goals as determined in SFYP for Private Sector Development, PSDPCC seems to be extremely effective in identifying bottlenecks in private sector development and setting out recommendations with a view to removing all bottlenecks, and to recommend actions for building cooperation between public and private sectors with a view to private sector development, further added the BUILD chair. 

Underlining the need for reducing lead time, DCCI President Ashraf Ahmed said, "We stand ready to work with you to further strengthen our private sector development agenda for the benefit of our industries. At the same time, we can also work on developing cold chain logistics since DCCI has done a number of exercises around the area."

Having strengthened the customs and port, he urged for cutting down unnecessary steps of customs clearance and executing the pre-arrival process. 

Appreciating the role of PMO with private sector engagement, BUILD CEO Ferdaus Ara Begum said the government needs to rationalise the minimum income tax and request PMO of other government agencies for having more engagement following the example of logistics policy formulation.