PM forms first-ever private sector advisory council
Prime Minister Tarique Rahman has formed the country’s first-ever Private Sector Advisory Council, bringing together leading business figures to provide structured policy advice on improving the country’s business and investment environment.
The inaugural meeting of the council was held on Saturday at the prime minister’s office, chaired by Rahman, marking what officials described as a new platform for direct engagement between the government and the country’s private sector.
Through the council, representatives of major industries will be able to provide timely and structured recommendations to the government’s highest level on priority reforms, regulatory improvements and investment climate challenges.
Members of the newly formed body were selected by the prime minister and include several prominent business leaders: Dr. Arif Dowla, managing director of Advanced Chemical Industries (ACI); Syed Nasim Manzur, managing director of Apex Footwear Limited; Hafizur Rahman Khan, chairman of Runner Group; Ahsan Khan Chowdhury, chairman and chief executive officer of PRANRFL Group; Ziaur Rahman, managing director of Bay Group; Abdul Muktadir, chairman and managing director of Incepta Pharmaceuticals; 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.
Several cabinet members and senior officials also attended the meeting at the invitation of the prime minister.
They included Finance Minister Amir Khasru Mahmud Chowdhury, Energy Minister Iqbal Hasan Mahmud, Commerce Minister Khandaker Abdul Muktadir, State Minister for Energy Anindya Islam Amit, the prime minister’s adviser Mahdi Amin and Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Ashik Chowdhury.
Rahman delivered the opening remarks before an open discussion among council members, where a range of issues affecting Bangladesh’s economic environment were raised.
These included regulatory challenges, energy supply, human resource development, taxation policy, logistics, export diversification and foreign direct investment.
Participants welcomed the government’s initiative to establish the forum, saying it reflects a willingness to engage closely with the private sector in order to foster a more open and business-friendly environment.
At the meeting, officials said the council will now prepare a concise set of recommendations based on feedback from the private sector.
The proposal will also include a targeted and actionable plan to address immediate challenges facing the country’s business climate.
Prime Minister Rahman advised that the proposals should incorporate evidence-based legal, policy and regulatory practices from other countries in order to ensure Bangladesh remains globally competitive.
According to the plan outlined during the meeting, BIDA will act as the coordinating agency on behalf of the government, working with relevant ministries and public institutions to facilitate the implementation of the council’s recommendations.
Ashik Chowdhury, executive chairman of BIDA, described the establishment of the advisory body as one of the key reforms proposed by the investment promotion authority.
“The objective is to create an effective mechanism through which the private sector can provide consistent and structured feedback at the highest level of government,” he said, adding that BIDA is grateful to the prime minister for leading the initiative and bringing together business leaders to advance the country’s reform and investment agenda.
Syed Nasim Manzur of Apex Footwear said the council has been designed to function as a “sounding board,” enabling policymakers to gain direct insights into the realities faced by domestic industries on the ground.
He noted that the main purpose of the body is to bridge the existing gap between business and government.
According to Manzur, key themes discussed in the first meeting included policy reform, simplification of administrative processes, improving the effectiveness and quality of policymaking, timely implementation of reforms and strengthening governance.
Council members also emphasized the need to enhance Bangladesh’s global competitiveness, open new industrial sectors, create quality employment opportunities and strengthen human resource development.
Other cross-sectoral issues discussed included regulatory complexity, energy availability, the role of the National Board of Revenue, logistics, export growth, foreign investment, technological advancement, national branding and access to financing.
