Govt to introduce AI-based supply chain monitoring to curb market manipulation: Minister
The minister said the government’s primary goal is to ensure subsidised essential food items reach low-income, lower-middle-income and marginalised people.
Commerce Minister Khandakar Abdul Muktadir has said the government is taking initiatives to build strategic reserves, introduce AI-based supply chain monitoring, and strengthen the Trading Corporation of Bangladesh to prevent syndicates and market manipulation in essential commodities.
"We want to ensure that there is no cartel or manipulation in the market for daily essentials," he said while inaugurating the TCB's truck sale programme ahead of Eid-ul-Azha in Agargaon of Dhaka today (11 May).
The minister said the government's primary goal is to ensure subsidised essential food items reach low-income, lower-middle-income and marginalised people.
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To achieve this, the TCB is continuing nationwide subsidised sales and organising special truck sales during major festivals, he added.
He said around 2.28 crore beneficiaries received subsidised food products during Ramadan last year, adding that the number is being increased to nearly 2.88 crore this year.
"Similarly, while around 10,900 tonnes of food products were supplied during Eid-ul-Azha last year, the volume has been raised to nearly 14,000 tonnes this year – an increase of around 40%."
"The government will launch TCB truck sales whenever necessary during festivals, emergencies or periods of unusual market pressure," Muktadir said, adding that authorities remain prepared to ensure food security.
He said nearly 59 lakh of the previously listed 1 crore beneficiaries were found questionable.
After verification, 80 lakh genuine beneficiaries have now been selected through a transparent process, while another 20 lakh families will be added gradually, he added.
The minister said a new policy is also being formulated to ensure transparency in appointing TCB dealers.
"We are transforming the TCB into a fully accountable, technology-driven and transparent institution," he added.
Outlining plans to curb market manipulation, he said the government will create strategic reserves for selected essential commodities and bring the entire supply chain – from import to retail sales – under AI-based digital monitoring.
This would allow the government to make faster and more effective decisions based on real-time data, he added.
