STAR BUSINESS REPORT

The government has formed a 29-member committee to ensure an efficient transportation of goods and services and the overall development of the logistics sector in Bangladesh.

M Tofazzel Hossain Miah, principal secretary to the prime minister, will chair the committee titled “National Logistics Development and Coordinating Committee”, according to a gazette notification issued on January 25.

As per the notification, the committee will formulate the National Logistics Development Policy, provide policy support and facilitate existing policy frameworks to attract investment in the logistics sector.

It will also provide overall guidance in formulating policies and development strategies for the logistics sub-sector.

On top of that, the committee will monitor, review and evaluate the progress of implementing the overall logistics development strategy.

The move comes as the logistics sector is failing to support the fast-growing economy.

Due to poor logistics and clearance services in the country’s ports and highways, Bangladesh is missing out on at least 20 per cent of its export potential.

Exporters fetched more than $52 billion from overseas sales in the previous fiscal year but it would be possible to earn at least $63 billion if the logistics services were improved, according to the Policy Exchange of Bangladesh, a private research firm.