The Trading Corporation of Bangladesh has set out an ambitious plan to reduce its dependence on subsidies without increasing prices for existing subsidised goods. Better logistics, lower financing costs and stronger commercial income are worthwhile goals. Yet a lower subsidy bill is not, by itself, proof that a social protection programme is working better.

The central question is whether eligible households can still obtain essential products regularly, at the promised prices, without unreasonable travel, queues or informal charges. A distribution system that saves money by making access harder would be a false economy.

TCB should publish clear indicators alongside its financial targets: the number of households actually served, delivery regularity, stockouts, complaint resolution, unit distribution costs and the share of benefits reaching intended recipients. Independent audits and accessible grievance channels would help distinguish real efficiency from the simple shifting of costs onto vulnerable families.

Commercial diversification can support a public mission, but it must not crowd out that mission. As Bangladesh faces pressure from living costs and economic uncertainty, TCB’s success should be judged by transparent accounts and reliable service to households, not by a headline savings target alone.