Dhaka Chamber of Commerce and Industry (DCCI) has found several issues, such as interruption of complex customs procedures, multiple intermediaries within the supply chain and production of counterfeit products by unscrupulous businessmen, behind hikes in prices of daily commodities.
To that end, the apex chamber’s President Md Sameer Sattar has suggested adopting appropriate and adequate protective laws and standards while ensuring strict monitoring to keep the markets stable.
Reading out the keynote paper at a roundtable, titled “Strengthening Business-Agency Collaboration,” at DCCI on Wednesday, he also urged the authorities to ensure full automation of the VAT return and refund process.
He pleaded for a rational application of VAT to reduce the cost of doing business. Regarding the quality of products, he said, “We need to address the issues of limited harmonisation between local and international standards, increase testing facilities, and increase expertise to enforce standards.”
Sameer called on effective business and government agency collaboration to ensure market stability. “Customs clearance process needs to be faster to reduce the cost of doing business. BSTI’s capacity needs to be enhanced,” he mentioned.
He emphasised coordination among the Bangladesh Trade and Tariff Commission, Bangladesh Competition Commission and NBR. Strict monitoring is needed to minimise price variation for similar products.
The DCCI president stated that there should be strict coordination between businesses and government agencies, especially the Department of Inspection for Factories and Establishments (DIFE) and the Department of Labour who are on certain occasions, applying the provisions of labour law and labour rules arbitrarily.
Addressing the roundtable, FBCCI President Mahbubul Alam said, “We need to upgrade our sea-ports to international standards with full automation and faster implementation of logistic policy. To create a smart Bangladesh, we have to go for the free trade agreement, international business diversification, and FDI attraction.”
“Our tax-GDP ratio is 9.68 per cent,” he said and urged NBR to widen the tax net across the country.
He also said that businessmen face various challenges in doing business due to the global economic meltdown, energy crisis, price hike of raw materials and capital machinery, and forex issues.
He added that if anyone creates an artificial crisis and helps to inflate the prices, he or she should be brought under punishment.
Speaking there as the chief guest, Dhaka North City Corporation (DNCC) Mayor Atiqul Islam said focused market monitoring should be strong. “We are proud of our RMG sector now. We have many compliance green factories in the country. Collaboration among the stakeholders is a must.”
He stated that the government should hear the cries of businessmen without harassing them. He stressed transparency and ensuring better public service to ensure a corruption-free system.
He said that the trade licence in the Dhaka North area went online and he requested the businessmen to avail of this facility. “We want to be cash-less and soon we will be able to make our markets cash-less. Traffic signals will be run by artificial intelligence in the near future.”
Atiqul also invited the private sector to bring modern electronic vehicles and city corporations will facilitate them to run.
Commerce Ministry Senior Secretary Tapan Kanti Ghosh said the government is never against the businessmen, rather the public sector always tries to facilitate the private sector to grow since its contribution to the GDP is the highest.
He requested the business community to be compliant and comply with the correct HS codes while importing products. “Due to few unscrupulous businessmen, sometimes products’ price goes high.”
He also stressed on cash-less payment system at the retail stage. “Due to safeguard measures given to our local industries, we cannot open import of all items but regarding this, he requested the business community not to utilise this facility in a wrong manner.”
“After LDC graduation, we should not only focus on signing PTA or FTA but also we need to stress on capacity development,” he added.
In the panel discussion session, Treasurer of CAB Dr Manjur-e Khoda Tarafdar said there may be an eco-friendly business environment to control inflation.
AHM Shafiquzzaman, additional secretary of the Directorate of National Consumers Right Protection, wanted help from honest businessmen to stand against the dishonest traders who try to create artificial crises, hoarding or price hikes in the market. “If we talk from separate islands, nobody will hear us but if we work collaboratively then dishonest businessmen will get no chance to play against the market.”
BSTI Director General Md Abdus Sattar, Bangladesh Competition Commission Chairperson and President Pradip Ranjan Chakrobarty, Department of Inspection for Factories and Establishments (DIFE) Deputy Inspector General Md Mehedi Hassan, and Bangladesh Trade and Tariff Commission Member Sheesh Haider Chowdhury, among others, also spoke there.
