Govt takes steps to control prices of essential commodities: Commerce minister
The minister said initiatives have been taken to resolve banking issues faced by importers and producers to ensure uninterrupted supply of essential commodities, including fuel
Commerce Minister Khandakar Abdul Muktadir has said the government has taken steps to amend The Control of Essential Commodities Act, 1956 to make it time-befitting and ensure better control of essential commodity markets and overall stability.
He made the remarks in parliament on today (5 April) while responding to a question.
The minister also said the government has recently assigned the Bangladesh Institute of Development Studies to conduct research by reviewing models followed in countries such as India and Indonesia to develop a suitable framework for Bangladesh.
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In a written question, Chattogram-13 lawmaker Sarwar Jamal Nizam asked whether any steps have been taken to control the market of essential commodities and, if so, what those measures are.
In reply, Commerce Minister Muktadir said various measures have been taken to control the market of essential goods, adding that the commerce ministry remains active in ensuring the supply of essential items at reasonable prices.
The minister said the government has taken initiatives to amend The Control of Essential Commodities Act, 1956 to make it time-befitting and ensure better control of essential commodity markets and overall stability.
He said that under the law, the prices of edible oil are currently set by the ministry and adjusted in line with international prices of raw materials. Prices have been adjusted three times in the current calendar year.
Referring to onion prices, he said the market remained close to production cost for most of the previous year, although prices surged in mid-year and again during December-January. The situation normalised after the government allowed imports twice through joint decisions by the agriculture and commerce ministries.
The minister said import duties on sugar, edible oil and dates have been reduced this year, helping keep prices stable, adding that such initiatives will continue.
He also said four market monitoring drives are being conducted daily in Dhaka by the Directorate of National Consumer Rights Protection, while two drives are being carried out by the commerce ministry.
Similar drives are also ongoing across districts and upazilas, with fines imposed for irregularities.
Steps have also been taken to ensure normal supply and prices of LPG by holding meetings with importers and distributors, he added.
The minister said initiatives have been taken to resolve banking issues faced by importers and producers to ensure uninterrupted supply of essential commodities, including fuel.
The minister said special taskforces formed at the district level are regularly conducting drives to monitor market conditions and supply chains of essential commodities through on-site inspections of major wholesale markets, warehouses, cold storages and other facilities.
He said these taskforces are also carrying out regular market monitoring and enforcement activities to keep prices at a reasonable level and minimise price gaps between producers, wholesalers and consumers.
He added that the Trading Corporation of Bangladesh (TCB) is distributing essential commodities such as rice, soybean oil, sugar and lentils at subsidised prices among around one crore low-income people through TCB cards.
This initiative is helping stabilise the market for these products and ensuring easy access to essential goods for low-income groups at subsidised rates.
