TCB digitisation to cut annual subsidy by up to Tk350cr: Commerce minister

The government expects to save Tk300-350 crore annually in subsidy by digitising and modernising the Trading Corporation of Bangladesh (TCB), Commerce Minister Khandakar Abdul Muktadir said on Thursday, with a target of eliminating the subsidy within five years.

The minister made the remarks while inaugurating the "Digital Transformation of TCB" programme at TCB Bhaban in the capital's Karwan Bazar this morning.

TCB is an extremely important institution for the people of the country, the minister said, adding that the new digital platform will make it easier for beneficiaries to collect their products.

He said the digital system will make TCB's operations more modern, transparent, efficient and people-friendly, and will increase accountability in product distribution and management.

Under the new system, nearly 80 lakh TCB cardholders will be able to buy products through a mobile app without carrying physical cards or cash. Dealers will also be able to receive supplies and make payments online, he said.

The minister expressed hope that the digital transformation would increase transparency and efficiency in TCB's operations while gradually reducing the government's subsidy burden.

As part of the same initiative, TCB has integrated its card-based service with the "Upokari" mobile app platform, creating an additional secure digital channel, alongside the conventional TCB card, through which a beneficiary's identity and product entitlement can be verified before purchase.

Officials said the arrangement draws on the Upokari platform's Digital Identity, Citizen Wallet and Secure Data Exchange Platform capabilities, with TCB's existing system linked to the Upokari Data Exchange Platform through a secure API.

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Once TCB's monthly sales cycle begins, digitally signed and encrypted QR-code-based digital invoices, notices and other necessary information will automatically reach the concerned beneficiary's Upokari app, with purchases and sales completed only through verification of the QR code on that invoice.

Officials said that if the model succeeds, the same approach could gradually be extended to other approved government and private-sector services.

Several other digital services were also launched at the event, including a digital dealer management system, an online payment collection system, an AI-based real-time monitoring system, an all-in-one point-of-sale system, and an AI-based contact centre.