The Trading Corporation of Bangladesh (TCB) is moving to introduce artificial intelligence-based market analysis and expand the use of technology in government procurement, as part of a broader push to make the state buying process more efficient, transparent and competitive.
Commerce Secretary Ataur Rahman Khan gave necessary directives at a programme titled "Evaluation of TCB's Activities" held at the conference room of the Ministry of Commerce on Thursday in this regard.
The state-run trading agency also plans to make its cost estimates more realistic, increase the number of bidders in tenders, and integrate its Smart Family Card with other government service cards, officials said.
The commerce secretary said TCB has played a crucial role in delivering essential commodities to the country's marginalised population since independence, but its procurement system now needs to be more modern and data-driven to keep pace with the time.
He said the narrower the gap between the official cost estimate and the final contract price, the better it reflects an organisation's capacity and efficiency in cost determination.
Ataur stressed preparing more accurate cost estimates by analysing domestic and international markets, price trends in neighbouring countries, and historical market data.
He said increasing the number of bidding companies in government procurement is essential to boost competition, which will help curb monopolistic tendencies on one hand and ensure the best use of public funds on the other.
The secretary added that a concept note has been prepared to incorporate AI-based analysis into market management and the government procurement process.
A committee comprised of representatives from the Ministry of Commerce, TCB, the Finance Division and relevant technology experts will be formed, and further steps will be taken based on the committee's recommendations.
Speaking at the event, TCB Chairman Brig Gen Mohammad Foyshol Azad said initiatives will be taken to integrate the Smart Family Card with other government cards, alongside plans to add more essential items to the product basket for consumers.
He said model stores will be set up in Barishal, Rajshahi and Dhaka. Tenders have already been floated through the e-GP system to introduce a point-of-sale (POS) system, which will allow consumers to make fast and transparent payments by scanning their cards once operational.
The event also touched on the sale of soap and detergent alongside TCB's subsidised products, with officials clarifying that purchase of such additional items is entirely optional and not mandatory for consumers.
Participating officials also shared views on TCB's digital transformation, procurement modernisation, market management, strengthening the supply chain, and future work plans.