Issue trade licence for 5 years: MCCI

The Metropolitan Chamber of Commerce and Industry (MCCI) today urged the government to issue trade licences for at least five years instead of one year to improve the ease of doing business.

The chamber made the demand at a discussion on "Issuance or renewal of licences for five years" at its auditorium in Dhaka.

Addressing the event, businesspeople said they usually have to collect at least eight types of licences, including a trade licence and environmental clearance, to launch a business and these need to be renewed every year.

So, it is difficult to do business enduring the hassles in each step of the total process of launching a new business, said MCCI President Md Saiful Islam.

"Sometimes, we have to spend almost a whole year to collect those licences," he said. 

Taking part in the discussion, Dhaka South City Corporation Mayor Sheikh Fazle Noor Taposh said, "It is very logical. We can extend it to five years, but the National Board of Revenue's role is very crucial to collect VAT (Value Added Tax) and AIT (Advance Income Tax)."

Nihad Kabir, former MCCI president, and Habibullah N Karim, vice president, also spoke.