TCB to modernise procurement system with AI-based market analysis
Staff Correspondent
To make public procurement more efficient, transparent and competitive, the Trading Corporation of Bangladesh (TCB) is taking initiatives to introduce artificial intelligence (AI)-based market analysis and increase the use of technology.
At the same time, the organisation has also announced plans to make cost estimates more realistic, increase the number of participants in tenders, and integrate TCB's Smart Family Card with other government service cards.
Commerce Secretary Ataur Rahman Khan provided these directives at a programme to review TCB's activities held at the Ministry of Commerce conference room on Thursday.
Additional Secretary (WTO) of the Ministry of Commerce Khadija Nazneen, Additional Secretary (IIT) Shibir Bichitra Barua, and TCB Chairman Brigadier General Faisal Azad were present at the event.
The commerce secretary said since independence, TCB has been playing an important role in delivering essential commodities to the country's marginalised people.
However, he said the organisation's procurement system needs to become more modern and data-driven to meet current demands.
He said the smaller the gap between the official cost estimate and the final contract price in the government procurement process, the more it reflects the capability of the organisation concerned and its efficiency in determining costs.
He therefore emphasised preparing more accurate cost estimates by analysing domestic and international markets, price trends in neighbouring countries, and historical market data.
Ataur Rahman Khan said it is essential to increase the number of participating firms in tenders to enhance competition in government procurement. This would reduce monopolistic tendencies while ensuring the best use of public funds.
He also said that a concept note has been prepared to incorporate AI-based analysis into market management and the government procurement process.
A committee comprising the Ministry of Commerce, TCB, the Finance Division and relevant technology experts will be formed in this regard.
Further actions will be taken based on the committee's recommendations.
At the programme, TCB Chairman Brigadier General Faisal Azad said that initiatives would be taken to integrate TCB's Smart Family Card with other government cards.
At the same time, there are plans to include more essential products in the basket of goods for consumers.
He said model stores will be established in Barishal, Rajshahi and Dhaka. In addition, tenders have already been invited through the e-GP system to introduce a Point of Sale (POS) system. Once this system is introduced, payments will be made quickly and transparently through card scanning.
The programme also discussed the sale of soap and detergent alongside TCB's subsidised products. It was stated that the purchase of these additional products would be entirely optional, with no obligation on consumers.
The participating officials also presented their views on TCB's digital transformation, modernisation of the procurement system, market management, strengthening the supply system, and future action plans.