Urge govt for ensuring uninterrupted supply chain
Prices of essential products will remain stable in coming months, particularly during Ramadan, the fasting month for Muslims, as the country has sufficient import, stock and supply of the items, traders on Monday assured the commerce ministry. At a meeting with the ministry, they, however, urged the government to ensure uninterrupted supply chain and keep the highways free from extortion in transportation of the commodities.
Analysing the import trend, stock and prices in international market, representatives of Bangladesh Bank, the National Board of Revenue and intelligence agencies said that there were no reasons for price hike of the essential commodities and shortfall in supply not only in Ramadan, but also in later months.
Commerce ministry organised the meeting to review the stock, supply and price situation of essential products ahead of Ramadan in the country where importers, representatives from trade bodies, different ministries and intelligence agencies attended.
At the meeting, commerce minister Tofail Ahmed requested the traders to keep the prices of commodities stable and affordable for the common people and warned against illegal hoarding and artificial crisis in the market.
‘The government will work jointly with business people to keep the prices stable but nobody will be spared if they try to create artificial crisis in the market through illegal hoarding to make extra profit,’ he said.
The government will also import sugar, lentil, edible oil, date and gram through Trading Corporation of Bangladesh and conduct regular monitoring to keep the market stable, he said.
Bangladesh Vegetable Oil Refiners’ Association president Fazlur Rahman said that the country had enough stock of essential products mainly sugar, soya bean, palm oil, lentil, atta and maida (refined flour) and importers were continuously importing these products.
‘So the supply of essential commodities will be normal all the year round and we will try to ensure that the prices of these products do not increase for a single day,’ he said.
Fazlur, also chairman of City Group, one of the biggest importers and distributors of essential commodities, said they would continuously communicate with the government if any problems arise.
Meghna Group chairman Mustafa Kamal urged the government to ensure uninterrupted supply of the products and prevent extortion by police and others in the highways.
‘If the government can ensure these two things, the prices of products will be normal,’ he said.
The Federation of Bangladesh Chambers of Commerce and Industry president Kazi Akram Uddin Ahmed said that products could be imported instantly as opening of letter of credit was a matter of 24 hours.
Representative of an intelligence agency suggested the government to look after the price of wheat and ginger which were now selling at higher prices in the local market compared with that of the international market.
Commerce ministry senior secretary Mahbub Ahmed, , National Board of Revenue member M Farid Uddin, Mostafa Group managing director Zahir Uddin, among others, spoke at the meeting.
-With New Age input
