Dhaka, Bangladesh (BBN)– The government will introduce alternative trading system scrapping the delivery order (DO) within this year, as the DO system has become corrupt, Commerce Minister Faruk Khan said on Wednesday.

The DO system will continue until the alternative is finalized and a committee is working on it, he told reporters at his Secretariat office in Dhaka after a meeting with EU ambassador Stefan Frowein.

The minister said consumers, importers and producers all incur loss due to the “corrupt” DO system. Most of the businesspeople want scrapping of the DO system.

Alternatives like dealership and distributorship are being considered, Mr. Khan added.

On October 14 this year, the government decided to scrap the DO system in the trading of edible oil and sugar to contain the unusual price-hike of the two essentials. A six-member committee headed by additional commerce secretary M Mortoza Reza was also formed to make recommendations on alternatives to replace the DO system.

The committee was given 15 working days to submit its recommendations, which will be finalized after discussions between the government and the traders.

Representatives from the Commerce Ministry, Trading Corporation of Bangladesh, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and edible oil and sugar traders are included in the committee which is preparing its recommendations in consultation with the stakeholders.

BBN/SSR/AD-04Nov10-10:27 am (BST)