Photo: BSS and DSJ
The Ministry of Commerce has assured that the government is “well-prepared” to stabilize markets and ensure an adequate supply of essentials ahead of the holy month of Ramadan.
Commerce Adviser Sk. Bashir Uddin, speaking to reporters at the Bangladesh Secretariat on Wednesday (December 3), said measures are in place to prevent unjustified price hikes and protect consumers.
The Adviser noted increased LC openings for essential commodities and recent price reductions for sugar, lentils, chickpeas, and eggs. “InshaAllah, we hope to manage edible oil prices as well. We will welcome any logical proposal, but won’t accept any unjustified move,” he said.
Price trends and syndicates: Bashir Uddin said earlier that syndicates had influenced sugar prices, but those influences have weakened. “Sugar price has come down; chickpea price will also come down; the lentil price has decreased, while prices of several items have fallen. Egg prices have also gone down somewhat,” he added.
He stressed that ensuring market stability and consumer protection remains the government’s top priority, warning that any violation of the law would be dealt with accordingly.
Edible oil hike condemned: The Adviser strongly condemned the sudden price increases in edible oil by several companies, calling them “without any legal basis.” He revealed he learned of the hike only “half an hour earlier” and termed it unjustified.
He pointed out that the ministry had purchased 50 lakh litres of soybean oil through a public tender just a day earlier at BDT 20 per litre, which was lower than the current retail price. “If we can procure oil through a tender at a price significantly lower, what justification is there for selling it at such a high rate? I find no logical reason,” he said.
Regulatory authority reaffirmed: Sk. Bashir Uddin stated firmly that the ministry’s authority over essential commodities is “clear and intact.” He dismissed claims from industry associations that companies can raise prices without approval from the ministry or the Bangladesh Trade and Tariff Commission.
“We don’t acknowledge such a position,” he added. The Adviser said discussions with companies are underway, and the government will act in line with established legal and regulatory practices.
