PM forms private sector business council

The government has formed the first nine-member Private Sector Advisory Council (PSAC) aimed at resolving challenges in business by removing bottlenecks.

The Bangladesh Investment Development Authority (Bida) initiated the council, which held its first meeting at the Prime Minister’s Office in Dhaka, chaired by Prime Minister Tarique Rahman yesterday.

In a statement, Bida said the prime minister has convened Bangladesh’s first PSAC, creating a formal platform for the country’s business representatives to provide timely, candid, and structured feedback to the highest level of government on the business climate, investment environment, and reform priorities.

The members of the council, selected by the prime minister, who is also its head, are: Arif Dowla, managing director of ACI; Syed Nasim Manzur, managing director of Apex Footwear Ltd.; Hafizur Rahman Khan, chairman of Runner Group; Ahsan Khan Chowdhury, chairman and CEO of PRAN-RFL Group; Ziaur Rahman, managing director of Bay Group; Abdul Muktadir, chairman and managing director of Incepta Group; Md Abdul Jabbar, managing director of DBL Group; Sohana Rouf Chowdhury, managing director of Rangs Group; and Syed Mohammad Tanvir, managing director of Pacific Jeans Group.

The first meeting was also attended by Finance Minister Amir Khosru Mahmud Chowdhury, Energy Minister Iqbal Hasan Mahmud, Commerce Minister Khandakar Abdul Muktadir, State Minister for Energy Anindya Islam Amit, PM’s Adviser Mahdi Amin, and Bida Chairman Chowdhury Ashik Mahmud Bin Harun, according to the statement.

The prime minister delivered the opening remarks during the meeting, which was followed by an open discussion among the council members covering topics related to the regulatory environment, energy, human capital, taxation policies, logistics, export diversification, and foreign direct investment.

The council members appreciated the government’s initiative in establishing this forum and its openness to engage with the private sector in fostering a more business-friendly environment, Bida said.

The council will now consolidate a summarised proposal from the private sector, accompanied by a targeted and actionable plan to address immediate challenges affecting the business climate.

The premier further advised the council to incorporate evidence-based legal, policy, and regulatory benchmarks from other countries to ensure Bangladesh remains globally competitive.

Bida will act as the coordinating agency from the government side, providing necessary support and working with relevant ministries and agencies to effectively drive the implementation of the proposed action plan.

Bida Executive Chairman Ashik Chowdhury said, “The formation of the Private Sector Advisory Council is one of the key reforms proposed by Bida to create a structured mechanism for sustained private sector input at the highest level. We are grateful to the prime minister for taking ownership of this matter and for bringing together an accomplished group of business leaders to support Bangladesh’s reform and investment agenda.”

A council member said the PSAC has been selected as a sounding board for the prime minister as a way to hear about the ground-level realities of manufacturing in Bangladesh. The purpose is to help reduce the gap between business and government, he added.

In their discussion, PSAC members focused on policy reform, simplification, delivering better quality policy, timely implementation, and improved governance.

At the same time, they identified ways to boost competitiveness, open up new sectors, create quality jobs, and strengthen human capital.

In the first meeting, they discussed cross-cutting issues such as regulatory bottlenecks, energy, human capital, the National Board of Revenue, logistics, exports, foreign direct investment, branding, new technologies, Bangladesh’s global image, and finance.

The council will meet once every three months.