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Dhaka Tribune

MCCI demands 5-year validity for trade licences

It is a tremendous hassle for businesses in the country to have to renew their licences every year

Update : 13 Aug 2022, 07:32 PM

The Metropolitan Chamber of Commerce and Industry (MCCI) has urged the government to extend the validity of all trade licences by up to five years to decrease sufferings faced in renewing such certifications each year.

It is a tremendous hassle for businesses in the country to have to renew their licences every year as it takes considerable amounts of time and effort to do so, the trade body also said.

The MCCI asked the government to extend the validity of several licences for at least five years.

The call came at a discussion on "Issuance or renewal of licences for 5 years", organized by the MCCI in the capital on Friday.

Md Saiful Islam, president of the MCCI, said several licences, including a trade licence and environmental clearance certificate, were needed to start any business in the country.

In most cases, these licences are issued or renewed for only a year, making it a time-consuming process.

This impedes the ease of doing business as they face hassles in each step of the process, Islam added.

Chief guest Sheikh Fazle Noor Taposh, mayor of the Dhaka South City Corporation (DSCC), gave his consent to the proposal, which he termed as very logical.

He then said the DSCC is ready to give multiple-year trade licences as long as other relevant bodies whose approvals were required by businesses provide permission in this regard.

"We can extend it to five years but the National Board of Revenue needs to agree as well as it plays a crucial role in collecting value added tax and advance income tax on the licences each year," Taposh added.

Among others, Nihad Kabir, former MCCI president, and Kamran T Rahman, senior vice-president, attended the event.

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