Committee formed to frame national logistics development policy
29 January 2023
Business Report :
The government has formed a 29-member committee to ensure an efficient transportation of goods and services and the overall development of the logistics sector.
M Tofazzel Hossain Miah, principal secretary to the prime minister, will chair the committee titled "National Logistics Development and Coordinating Committee", according to a gazette notification issued on January 25.
As per the notification, the committee will formulate the National Logistics Development Policy, provide policy support and facilitate existing policy frameworks to attract investment in the logistics sector.
It will also provide overall guidance in formulating policies and development strategies for the logistics sub-sector.
On top of that, the committee will monitor, review and evaluate the progress of implementing the overall logistics development strategy.
Bangladesh is missing out on at least 20 per cent of its export potential due to poor logistics and clearance services in the country's ports and highways.
Bangladesh fetched $52 billion from exports in the previous fiscal year but it would be possible to earn at least $63 billion if the logistics services were improved, according to the Policy Exchange of Bangladesh, a private research firm.
More than 80 per cent of the respondents under a recent survey said finding the availability of transport and logistics services were relatively easy, but the cost of logistics services were excessively high, according to the Business Climate Index report published on Thursday by the Metropolitan Chamber of Commerce and Industry and the Policy Exchange.
Bangladesh ranked 100 overall with a score of 2.58 in the logistics performance index in 2018 while India was 42, Indonesia 51, and Vietnam 45.
