Cabinet approves draft nat'l tariff policy
The Cabinet yesterday approved the draft National Tariff Policy 2023 aiming to make Bangladeshi products more competitive in the international market.
"We do not have any specific policy on tariff. We rely on the suggestions of the Tariff Commission that gives suggestions on tariff in light with the policies on industry, commerce, import and export," said Cabinet Secretary Mahbub Hossain at a press briefing at Bangladesh Secretariat.
At the cabinet meeting, the commerce ministry presented the policy to boost the country's industry. The aim is to present local products in the international market as good alternatives and create markets of local products, he said.
Replying to a question, he said since Bangladesh is set to graduate out of the group of least developed countries (LDCs), the country will lose many facilities. To survive the competition in the coming days, the policy is being taken, he said.
The approval came from the cabinet meeting chaired by Prime Minister Sheikh Hasina yesterday at the Prime Minister's Office.
The Cabinet okayed the draft of Sylhet Medical University (Amendment) Act, 2023 in order to change its name as Bangamata Begum Fazilatunnesa Mujib Medical University, Sylhet.
It also approved the draft of Bangabandhu Sheikh Mujib Medical University (Amendment) Act, 2023 in a bid to extend the tenure of vice chancellor, pro-vice chancellor, and treasurer to four years.
The draft law was designed to bring changes in several places of the existing act of 1998, said Mahbub.
"Now the tenure of vice chancellor, pro-vice chancellor, and treasurer is three years, which has been extended to four years keeping similarity to the tenures in other universities," he said.
As per the draft laws, the expenditures of the two universities can be audited by the office of Comptroller and Auditor General of Bangladesh.
Besides, the Cabinet approved the proposal of ratification of the agreement on the New Development Bank (NDB), a multilateral bank established by the BRICS states.
Bangladesh needs to ratify the agreement as it joined the bank, he said.
Replying to a question how Bangladesh would benefit from the ratification of this agreement, the Cabinet secretary said several projects are already there. "The projects of over 600 crore are in the pipeline [from the bank]. If the agreement is ratified, the projects [projects' funds] will be available," he said.
In reply to another question, he said the bank is also working on an alternative currency.
Besides, the Cabinet gave final approval to the District (Enforcement in Chittagong Hill Tracts Districts) Act, 2023 and Bangladesh Police (Subordinate Employees) Welfare Fund Act, 2023.