Asif Showkat
The government, after a long gap of 16 years, has revived the Market Intelligence Unit to keep a vigilant eye on the market prices of essential commodities, said official sources on Monday. The unit will begin its work immediately.
The commerce ministry abolished MIU in 1992 after Bangladesh became a member of World Trade Organisation.
‘The MIU will provide secret information to the Ministry of Commerce about the doings of the wholesalers and retailers in the kitchen markets in Dhaka,’ a senior official of the commerce ministry told New Age.
The government will take necessary measures and fashion future strategies against any stockpiling and manipulation of the prices of essential commodities, said the official.
The commerce ministry on Monday issued a circular regarding the MIU and formed four teams to monitor the four biggest markets of the capital.
However the Bangladesh Development Studies’ research director, M Asaduzzaman, told New Age that the re-introduction of the MIU in Dhaka would be of no use as the consumption pattern of the city’s rich people was totally different from that of the poor people in other areas of the country.
‘The MIU will submit a biased report on the market, which will be of no use for framing future strategies for reduction of the prices of essentials,’ he asserted.
Eminent economist Abu Ahmed said that the government would not be able to estimate the real prices of commodities without proper statistics on the suppliers and producers in the market.
The MIU has started gathering and analyzing market information, particularly to make accurate and confident decisions in the procurement process.
The MIU is focusing on commodity profile, cost structure, supply base profile, market indicators and competitive analysis.
In the circular, the commerce ministry also revealed the MIU’s terms of reference.
The four teams of the MIU will monitor a number of markets in the capital everyday, except on the weekly holidays on Friday and Saturday, and gather the wholesale and retail prices and information on the amounts of commodities that the traders have stocked.
The teams will hold weekly meetings with the state-owned Trading Corporation of Bangladesh before finalising and submitting the MIU’s report to the concerned authorities.
If necessary, the MIU will seal its report and send it to the ministers and secretaries concerned for taking the necessary action.
Courtesy: newagebd.com
