Prices of 9 essential commodities to be fixed within 7 days: Minister

The government will set the prices of nine essential commodities in the country in accordance with the world market and the new prices will be announced in the next seven days, said Commerce Minister Tipu Munshi. 

"Government will publish a list setting the prices of nine essential products in line with the situation in the global market. The new price list will be published in the next seven days," the minister said while talking to reporters at the National Press Club on Friday.

The retail prices of rice, egg, cement, rod, edible oils, sugar, flour, onion and lentil will be capped by the government on the basis of global price movement and local market supplies, the minister added.

Earlier, the government said that it planned to widen its control over the market as commodity price volatility persists with prices of essential products – either locally produced or imported–- soaring unpredictably due to dollar shortage and fuel price hike, it incorporates more items in the list of essentials and attempts to set prices with stern warning against violation.

Rashed Khan Menon, president of Workers Party, said the wages of the workers should be increased and rationing should be arranged for workers. 

In today's global context, introducing wage hikes and rationing is not only logical but also a matter of life and death, he added.