Commerce Adviser Sheikh Bashiruddin said that the activities of the Trading Corporation of Bangladesh (TCB) will be conducted through the Smart Family Card, replacing the paper-based system going forward.
He made this statement during the inauguration of TCB's product sales to low-income families at subsidised prices, held at Tejgaon Begunbari in the Dhaka on Wednesday morning.
The commerce adviser acknowledged the chaos and corruption that had occurred in the TCB product distribution system, saying: "We have recognised the issues and are working to eliminate irregularities by digitalising the process."
Bashiruddin said that 6.3 million smart cards have already been distributed and that the aim is not only to ensure fair distribution but also to make the purchasing process more transparent and inclusive.
Regarding the expansion of TCB's programs, he said: "TCB purchases products worth Tk12,000 crore, with a government subsidy of Tk4,500 crore. Therefore, TCB is a major buyer and we want to involve more traders in its purchasing activities."
On the issue of product shortages due to trade liberalisation, the adviser said: "There is no overall shortage of products in the market. However, the rice market has been unstable due to temporary hoarding. We are monitoring the situation, and the rice market will soon come under control."
Discussing the potato market, Bashiruddin said: "Based on this year's experience, the government will stockpile potatoes for next year. Efforts are being made to store potatoes in warehouses. In the future, potato prices will be controlled."
It was also mentioned that a customer holding a Smart Family Card can purchase 2 litres of edible oil for Tk200, 2kg of lentils for Tk120, and 1kg of sugar for Tk70.
