Reform commission for pvt sector to be formed if trade bodies want: CA's special envoy

A reform commission for the country's private sector will be formed if the trade bodies want, said Lutfey Siddiqi, chief adviser's special envoy on international affairs. 

"There is no reform commission for the private sector now. If proposals for such a reform commission come from trade bodies, we will discuss it and work with the chief adviser to form one," he said during his speech as the chief guest in a dialogue at the capital's BRAC Centre Inn organised by the Centre for Policy Dialogue (CPD) today (17 November).

Mentioning that there is bureaucratic red tape in various government departments, the special envoy to the chief adviser also said the interim government is working to reduce these. 

"We are working with experiences of countries doing well in improving the business environment as a reference. Our doors are always open for businesses to share their challenges with us. We can also have discussions via Zoom call," he said. 

"We need to change our system. The bureaucratic complexities of starting a business must be eliminated," added Lutfey Siddiqi. 

Lutfey further said regular monthly meetings will be held with representatives from the Bangladesh Investment Development Authority (Bida), Bangladesh Economic Zones Authority (Beza), Bangladesh Export Processing Zones Authority (Bepza), Bangladesh Hi-Tech Park Authority, and Chittagong Port Authority (CPA).

"These meetings will include the NBR chairman, energy secretary, and shipping secretary, where the challenges faced by businesses will be discussed and the relevant agencies will collaborate to resolve them."

He mentioned that a meeting has already been held under the chairmanship of the chief adviser, and a working group has been formed, which includes representatives from the private sectors. "The group will work on addressing sector-specific issues to improve the business environment in the country."

During the event, the CPD also revealed a survey conducted during Sheikh Hasina's regime from January to June this year. 

According to the survey, nearly 17% of businesses identified corruption as their primary challenge in 2024. 

The businesses in the survey mentioned volatility in the exchange rate as the second biggest challenge, followed by inefficient government bureaucracy, inflation and limited access to finance.

At the event, Chowdhury Ashik Mahmud Bin Harun, executive chairman of Bida and Beza, said it is not feasible to launch all 100 economic zones initiated by the previous government. "Instead, we have planned to focus on 10 or fewer economic zones over the next 5 years, and the roadmap for this will be finalised by the end of this month.

He emphasised necessary infrastructure development will be provided in the economic zones, including full connectivity and support services such as gas, water, electricity, and roads.

"Businesses will be informed about the policy support they can expect over the next 5 years, and efforts are being made to ensure continuity in policy implementation," he added.

The executive chairman also said to facilitate import-export trade, the National Single Window will be launched by the end of February next year. "Work is also underway to ensure that the One Stop Service (OSS) functions efficiently."