Dhaka:The Trading Corporation of Bangladesh (TCB) is achieving substantial operational savings of approximately Tk 80 crore annually due to digitalisation efforts. Additionally, the corporation expects its banking interest expenses to decline significantly from Tk 533 crore in the fiscal year 2023-24 to around Tk 106 crore by 2026-27.
According to United News of Bangladesh, this information was revealed in a keynote paper presented at an event titled "Trade with TCB" held at the Golf Garden of the Army Golf Club in Dhaka. The paper was delivered by Badrun Nessa Ahmed, a senior research fellow at the Bangladesh Institute of Development Studies and a professor at the BIDS Graduate School of Economics.
The paper highlighted that TCB, under the Ministry of Commerce, has enhanced transparency and reduced middlemen's influence through the implementation of direct bank API transactions and smart family cards. Of the Tk 80 crore saved annually, Tk 60 crore is attributed to direct payment collections from dealers via bank APIs, while Tk 20 crore stems from improved warehouse management. Digital treasury management and direct warehouse-to-dealer supply have further contributed to these savings.
TCB is committed to providing essential goods at subsidised prices to one crore low-income families across Bangladesh. To date, 79.90 lakh genuine beneficiaries have been verified and included in a digital database, with approximately 73.07 lakh smart family cards activated. The digital verification process, which includes e-KYC and national ID matching, has led to the elimination of nearly 59 lakh fake and ineligible applications, effectively preventing wastage and black-marketing of public goods.
For the fiscal year 2026-27, TCB plans a procurement initiative valued at Tk 8,000 crore, aiming to lower purchase costs and increase total sales revenue by 83 percent. This would result in a 17 percent reduction in per-beneficiary subsidies. TCB is also diversifying its product offerings with items such as soap, detergent, salt, tea, flour, and spices for open market sales to help offset subsidy expenses.
To enhance customer service, TCB has introduced a smart app named "Upokari," allowing beneficiaries to locate nearby sales points and receive product availability notifications. Goods can be collected with payments made online or in cash through encrypted QR code scans. The app ensures uninterrupted service even in the event of a lost card.
Additionally, TCB operates a hotline and a 24-hour WhatsApp service for continuous customer support and grievance redress. In procurement processes, TCB has adopted 100 percent electronic Government Procurement (e-GP) and open bid opening, with digital processing of security deposits and bills enabling quicker and more transparent transactions for suppliers.
Looking to the future, TCB aims to integrate other social safety net benefits into the smart card system and utilize artificial intelligence for continuous market price monitoring. The corporation also plans to expand its warehouse capacity to become a fully self-reliant, subsidy-free entity.