AI to drive TCB market shift, smart procurement

The Trading Corporation of Bangladesh (TCB) is launching a major technological overhaul, introducing artificial intelligence (AI)-based market analysis and expanding digital public procurement systems.

The initiative aims to modernize government purchasing, making it more efficient, transparent, and competitive while cutting down on market monopolies.

The strategic directives were issued by Commerce Secretary Ataur Rahman Khan during a high-level review meeting on TCB operations at the Ministry of Commerce conference room on Thursday.

The meeting was attended by senior officials, including TCB Chairman Brigadier General Mohammad Foyshol Azad, Additional Secretary (WTO) Khadija Nazneen, and Additional Secretary (IIT) Shibir Bichitra Barua.

Highlighting TCB’s historical role in supplying essential commodities to low-income groups since independence, the Commerce Secretary emphasized that the corporation must transition into a data-driven entity to meet evolving market demands.

A key focus of this reform is narrowing the gap between official cost estimates and final contract prices, which Khan noted is a direct reflection of an organization’s procurement capability.

To achieve this accuracy, TCB will leverage AI to analyze domestic and international market trends, historical data, and price movements in neighboring countries.

A concept note has already been drafted to integrate AI into market management. A specialized committee comprising representatives from the Ministry of Commerce, TCB, the Finance Division, and tech experts will soon be formed to evaluate the proposal and outline implementation steps.

Furthermore, the Secretary stressed the importance of increasing bidder participation in government tenders to dismantle monopolistic practices and secure better value for public funds.

Parallel to procurement reforms, TCB is aggressively pushing its consumer-facing digital transformation. TCB Chairman Brigadier General Mohammad Foyshol Azad announced plans to integrate the Smart Family Card with other government service cards and expand the range of subsidized commodities.

To streamline distribution, TCB has floated an electronic Government Procurement (e-GP) tender to introduce a Point of Sale (POS) system, allowing beneficiaries to make quick, transparent payments via card scans.

Additionally, TCB plans to establish model stores in Dhaka, Rajshahi, and Barishal. Addressing recent discussions regarding the inclusion of soap and detergent in the TCB product lineup, officials clarified that purchasing these items will be entirely optional, ensuring no financial pressure is placed on low-income beneficiaries.

This comprehensive modernization marks a pivotal shift toward a highly accountable and digitally secure supply chain for the nation.