No one can manipulate market if goods' supply remains stable: Commerce state minister

No one can manipulate the market if the supply of essential goods remains stable, said Ahsanul Islam Titu, the state minister for Commerce today (7 May).

"We are working to ensure that the supply of essential goods is sufficient. Ten million families can buy food products at low prices through the program of the Trading Corporation of Bangladesh (TCB)," he said while inaugurating TCB activities for the month of May at the capital's Baridhara.

"During Ramadan, there was a ban on onion export in India. But we imported onions from India under special arrangements through TCB. Our goal was to ensure that people could buy onions at an affordable price. As a result, the price of onions is still within reach for many," he said. 

"Our goal is to keep the prices of all products within the purchasing power of the people," said Titu. 

He said the truck sale activities of TCB were expanded during the Covid-19 pandemic. 

The state minister for commerce requested local representatives to conduct TCB activities through permanent shops so that people can purchase goods at their convenience. He said TCB activities will begin through permanent shops in July. 

"We must ensure that only eligible people get goods from TCB. The list may need to be updated periodically. We are importing as necessary to ensure the supply of products. We also plan to increase the number of products we sell through TCB activities," he added. 

Regarding the import duties on essential goods, Titu said some products are duty-free. 

"We are discussing with the National Board of Revenue (NBR) to bring the duties on essential goods to a reasonable level in the upcoming budget," he added. 

As part of the TCB's monthly program, the holder of a family card can buy up to two litres of soybean or rice bran oil, five kilograms of rice, and two kilograms of lentils. 

The price per litre of soybean or rice bran oil will be Tk100. TCB will sell each kilogram of rice for Tk30 and lentils for Tk60.

Sugar and onions are usually on TCB's list, but they will not be sold this time.

Around five crore members of one crore families, which is about 30-35% of the total population, currently benefit from the low-priced products offered by TCB, said Tapan Kanti Ghosh, senior secretary of the commerce ministry. 

"If the selection process is accurate, no low-income person will be excluded from this program. We are working to ensure the accuracy of the selection process. If it is found that an individual or family is not eligible to be included in this program, they will be removed and new families will be added," he added.

The senior secretary said around 30-35 lakh smart cards have already been issued to the eligible families to make the distribution more efficient.