TCB to introduce AI-based market analysis, digitise public procurement systems

The Trading Corporation of Bangladesh (TCB) is set to introduce artificial intelligence (AI)-based market analysis and expand the use of technology in public procurement as part of a broader initiative to make government purchasing more efficient, transparent and competitive.

The state-run corporation also plans to prepare more realistic cost estimates, increase competition in public tenders and integrate its Smart Family Card with other government service cards.

The directives were given by Commerce Secretary Ataur Rahman Khan at a review meeting on TCB operations held at the Ministry of Commerce conference room today.

Additional Secretary (WTO) Khadija Nazneen, Additional Secretary (IIT) Shibir Bichitra Barua and TCB Chairman Brigadier General Mohammad Foyshol Azad, among others, attended the meeting.

Speaking at the event, the Commerce Secretary said TCB has been playing a vital role in supplying essential commodities to low-income people across the country since Bangladesh's independence. 

However, he stressed that the corporation's procurement system now needs to become more modern and data-driven to meet changing demands, said a press release of the Ministry of Commerce.

He said the narrower the gap between the official cost estimate and the final contract price, the better it reflects an organisation's procurement capability and the accuracy of its cost estimates.

To achieve this, he emphasised the need to prepare more accurate cost estimates by analysing domestic and international market trends, price movements in neighbouring countries, and historical market data.

Ataur Rahman Khan also underscored the need to increase the number of bidders participating in government tenders, saying greater competition would reduce monopolistic practices and ensure better value for public funds.

He said a concept note has already been prepared to incorporate AI-based analysis into market management and public procurement. A committee comprising representatives from the Ministry of Commerce, TCB, the Finance Division and technology experts will be formed to examine the proposal and recommend the next course of action.

TCB Chairman Brigadier General Mohammad Foyshol Azad said the corporation plans to integrate the Smart Family Card with other government service cards and expand the range of essential products available under its subsidised distribution programme.

He also announced plans to establish model stores in Barishal, Rajshahi and Dhaka.
In addition, he said, TCB has already floated an electronic Government Procurement (e-GP) tender to introduce a Point of Sale (POS) system. Once implemented, beneficiaries will be able to make payments quickly and transparently by scanning their cards.

The meeting also discussed the sale of soap and detergent alongside TCB's subsidised commodities. Officials clarified that purchasing these additional items would be entirely optional and that beneficiaries would not be under any obligation to buy them.

Participants also shared views on TCB's digital transformation, procurement modernisation, market management, strengthening of the supply chain and future action plans.