Accra:The Trading Corporation of Bangladesh (TCB) has successfully verified and enrolled nearly 80 lakh beneficiaries into its digital database. This initiative aims to enhance transparency and accountability in the distribution of subsidized essential commodities to low-income families, resulting in savings of approximately Tk 80 crore annually through digital management.
According to Bangladesh Sangbad Sangstha, about 73.07 lakh smart family cards have been activated among the 79.90 lakh verified beneficiaries. Additionally, nearly 59 lakh fake and ineligible applications were removed using electronic know-your-customer (e-KYC) procedures and verification against national identity card data.
The announcement was made during a business talk titled 'Trade with TCB' at the Golf Garden of Army Golf Club. The event encouraged local and foreign suppliers to participate more actively in TCB's procurement programs.
TCB plans to save Tk 80 crore annually through digital financial transactions and its warehouse management system, with a procurement target of Tk 8,000 crore for the fiscal year 2026-27. The corporation aims to boost sales revenue by 83 percent and reduce subsidies per beneficiary family by 17 percent in the same period compared to the previous year.
Commerce Minister Khandakar Abdul Muktadir was the chief guest at the event, with TCB Chairman Brigadier General Mohammad Foyshol Azad delivering the opening address. Dr. Badrun Nessa Ahmed from the Bangladesh Institute of Development Studies presented the keynote paper, highlighting TCB's goal to supply essential commodities to one crore low-income families monthly.
The keynote also emphasized the benefits of digital financial management, including savings of Tk 60 crore annually via direct dealer payments through bank APIs and Tk 20 crore through warehouse management. TCB expects its bank interest expenditure to drop from Tk 533 crore in FY 2023-24 to around Tk 106 crore in FY 2026-27.
TCB is also leveraging the electronic government procurement (e-GP) system for efficient tendering and payment processes. Discussions at the event focused on expanding business opportunities, encouraging wider participation in procurement programs, and improving purchasing efficiency.
The event showcased TCB's 'Upokari' smart application, which helps beneficiaries access information about sales points and collect commodities using encrypted QR codes. The application also offers services in case of lost physical cards. Additionally, TCB has introduced hotline and WhatsApp services for customer support and complaint resolution.
TCB plans to expand its product range to include everyday items like soap, detergent, salt, tea, flour, and spices, aiming to generate additional revenue and reduce subsidy pressure. Future plans involve integrating other social safety-net benefits through smart cards and using artificial intelligence to monitor market prices.
The event featured speakers such as Premier Cement Chairman Mohammad Mostafa Haider, Square Toiletries CEO Malik Mohammad Sayeed, Australia's MCG International Managing Director Mark Shane McGoldrick, and other notable figures. Diplomatic representatives, government officials, business leaders, and suppliers were also in attendance.