Sunday, October 6, 2024

Govt’s market intervention has failed : Market prices go uncontrolled

Despite the high sounding commitments made by the government, the TCB and the apex business body FBCCI, the prices of essential commodities continued to remain high during the month of Ramzan.
Meanwhile as the Holy Eid-ul-Fitr approaches the prices of spices, edible oil and other commodities recorded a higher price as surveyed in the city’s kitchen markets yesterday reflecting the ‘failure of mechanism’ earlier taken by the concerned authority to contain the volatility of market price.
On the other hand, the prices of different varieties of rice have remained high, showing no positive impact on rice prices despite selling of coarse rice through OMS and fair price card.
As most of the public and private service holders received their salaries along with Eid festival bonuses, that prompted the traders to increase commodities prices again, market experts opined.
The state owned Trading Corporation of Bangladesh (TCB) has failed to check the market prices during the ongoing Ramzan though it was supposed to do that, alleged by the customers. TCB started selling food items at fair price on August 8 last at different places of the country. Though the Corporation had a plan to sell 25 tonnes of sugar, 20,000 tonnes of soybean oil, 10,000 tonnes lentils, and 5,000 tonnes of palm oil during the Ramzan. But so far it had failed to sell those quantities of commodities.
We could not understand that even after the ongoing drive by the designated market monitoring teams of the concerned Ministry, the prices of vegetables and some essential spices have again shot up ahead of Eid-ul- Fitr, customers vented their frustrations.
“Just before the start of Ramzan, the mill gate rate of sugar was between Tk 34 and Tk 36 per kg and in the retail market it was between Tk 38 and Tk 40.
But, less than a one month, the sugar price has shot up abruptly as it was sold between Tk 50 and Tk 52 per kg yesterday,” said Mrs Rawshan, a private service holder.
But, so far, except realising fines from a handful of traders for food adulteration but the selling of commodities at high prices by the traders were going on unabated, according to market analysts.
Meanwhile, the government would take action against the syndicates who are involved with the sugar and soybean oil prices scam.
The intelligence agencies of the government have detected some businessmen involved with the ‘market price syndication’. They have submitted the lists to the Ministry of Commerce for taking necessary actions.
If the allegations are proven we would take stern action against those involved with the price syndication, a high official of the concerned official told The New Nation.
The prices of brinjal, green chilli, cucumber and tomato again reached a higher level as most of the traders were flouting the government decision to follow the ‘fixed prices chart’.
Though the government has fixed the prices of soybean oil, sugar, and lentil and red meat for the holy month of Ramzan, and in fact most traders in the retail level were violating the government’s instructions as they were realising high prices of commodities from the customers, aggravating the sufferings of the common people.
But, the traders in the retail markets denied the allegations of selling commodities at high prices rather claimed to have realising minimum profits from the customers.
Brinjal was sold between Tk 40 and Tk 50 per kg yesterday which was between Tk 25 and Tk 30 in the past few week. Similarly, cucumber was sold between Tk 35 and Tk 40 per kg yesterday which was between Tk 20 and Tk 25 in the previous week.
Green chilli was sold between Tk 100 and Tk 110 per kg yesterday which was between Tk 70 and Tk 75 in the previous weeks. Per kg of tomato was sold between Tk 90 and Tk 100 yesterday which was between Tk 75 and Tk 80 in the past few weeks.
The government has fixed soybean oil at Tk 80 per kg and sugar at Tk 47 per kg for Ramzan. But most traders were selling soybean at Tk 82 and sugar between Tk 50 and 52 per kg yesterday.
Similarly, beef and mutton were also fixed at Tk 250 and at Tk 350 per kg respectively. But, traders were selling one kg of beef between Tk 260 and Tk 270 and mutton between Tk 380 and Tk 400 yesterday.
Among the spices, the price of cardamon has increased almost four times higher compared with the previous year. Per kg of cardamon was sold between Tk 2,700 and Tk 2,750 yesterday which was sold at Tk 750 per kg in the previous year.
Clove was sold between Tk 600 and Tk 650 per kg yesterday which was between Tk 500 and Tk 520 per kg just before the start of the holy month of Ramzan. Per kg of cumin was sold between Tk 345 and Tk 360 yesterday which was between Tk 250 and Tk 280 just before Ramzan. Black pepper was sold between Tk 550 and Tk 600 per kg yesterday which was between Tk 450 and Tk 500 in the previous weeks.
Powdered turmeric was sold between Tk 320 and Tk 340 per kg yesterday which was between Tk 250 and Tk 260 in the past few weeks. Per kg of ginger was sold between Tk 100 and Tk 110 while garlic was sold between Tk 140 and Tk 150 per kg yesterday.
Najirshail variety of rice depending on quality was sold between Tk 44 and Tk 46 and paijam was sold between Tk 34 and Tk 36.Per kg green chilli was sold between Tk 100 and Tk 110, garlic between Tk 150 and Tk 160, ginger between Tk 100 and Tk 110 yesterday.
Per kg of ruhi fish was sold between Tk 180 and Tk 200 while a medium size ‘hilsha’ was sold between Tk 500 and Tk 600 yesterday.

 

Courtesy of The New Nation

Related News

Malaysia to accept 18,000 workers who missed deadline

Says Asif Nazrul News Desk : dhakamirror.com Malaysia has agreed to receive 18,000 Bangladeshi workers who previously missed a deadline to enter the country, said Dr Asif Nazrul, adviser to the Ministry of Expatriates’ Welfare and Overseas Employment. “Now, the Ministry of Expatriates’ Welfare of Bangladesh will work with our Malaysian counterparts to establish a ... Read more

3 killed as gas cylinder blasts at restaurant in Keraniganj

News Desk : dhakamirror.com At least three restaurant workers were killed and several others injured in a gas cylinder blast on Saturday evening at ‘Ghorowa Hotel and Restaurant’ at Ramer Kanda in Keraniganj in Dhaka. Three other shops were also burnt in the incident as the fire broke out from the restaurant. The victims are ... Read more

Ex-president Badruddoza Chowdhury dies at 93

News Desk : dhakamirror.com Former president Professor AQM Badruddoza Chowdhury, popularly known as B Chowdhury, passed away in the early hours of Saturday (5 October). He was 93. The former president breathed his last at the Medical College for Women in Uttara at 3:10am, Jahangir Alam, press secretary of the former president, said in a ... Read more

Two students drown in Mirsarai waterfall

News Desk : dhakamirror.com The bodies of two young tourists were recovered from the deep well of Rupashi Waterfall in Chattogram’s Mirsarai yesterday (4 October), hours after they were reported missing. The deceased were identified as Musfiqur Rahman, 21, and Mahbub Rahman Mustakim, 21, both residents of Narayanganj. “A search and rescue team from the ... Read more

Railway to operate special passenger trains on Dhaka-Cox’s Bazar route during Durga Puja holidays

News Desk : dhakamirror.com In anticipation of increased demand during the Durga Puja and weekly holidays, the Bangladesh Railway has decided to operate seven additional special passenger trains on the Dhaka-Cox’s Bazar route. These trains will run from 10 October to 13 October, supplementing the two regular trains already operating on the route. The director ... Read more

Bangladeshi expat wins Tk 65 cr in lottery in UAE Big Ticket draw

News Desk : dhakamirror.com Bangladeshi expat Abul Monsur, hailing from Chattogram, has won Dh20 million, or over Tk65 crore, grand prize with the latest Big Ticket draw in the United Arab Emirates. Abul Monsur Abdul Sabur, a 50-year-old based in Abu Dhabi, has been buying the raffle draws’ entries since 2007. In its latest edition, ... Read more

Motorcycle sales tumble to seven-year low

Mahfuz Ullah Babu Rising costs, consumers’ weakening purchasing capacity, and adverse policy treatments blamed The hope of manufacturers for a scaled-up motorcycle market – to reach a million units a year by 2027 – now seems to be fading away. The economic slowdown, coupled with a sharp rise in costs and selling prices, has instead ... Read more

Metro rail to begin operations on Fridays too

News Desk : dhakamirror.com The Dhaka Mass Transit Company Limited (DMTCL) is set to launch metro rail services on Fridays soon. Currently, the services are closed on Fridays. MAN Siddique, managing director of Dhaka Mass Transit Company Limited, told media on Monday that the company started preparatory work on the day to start services on ... Read more

Academic activities in all public universities in Bangladesh remain stalled

Shahin Akhter Amid the academic activities coming to a near halt in most public universities triggered by a wave of resignation from top officials, the Secondary and Higher Education Division on Thursday in an order asked the universities tackling the situation to allow a senior teacher to carry out the administrative and finance related tasks ... Read more

Sundarbans to reopen for fishers, tourists from Sept 1

News Desk : dhakamirror.com After nearly three months of closure, the Forest Department will reopen the Sundarbans, the world’s largest mangrove forest and a UNESCO world heritage site from September 1 (Sunday). From that day, fishermen and tourists will be able to enter the world’s largest mangrove forest after obtaining a permit from the Department ... Read more

Govt decreases fuel prices

News Desk : dhakamirror.com The government reduced octane and petrol prices by Tk6 per litre, according to a press release by the Ministry of Power, Energy and Mineral Resources issued today (31 August). Meanwhile, the price of diesel has been reduced by Tk1.25 per litre. Starting tomorrow (1 September), the new price for octane will ... Read more

All educational institutions to reopen on 18 August

News Desk : dhakamirror.com All educational institutions under the education ministry have been instructed to resume academic activities from Sunday, August 18, 2024. The announcement was made through an office order issued by the ministry on Thursday. The order said that following the approval of the chief adviser the educational institutions were instructed to take ... Read more

Interim govt led by Dr Yunus sworn in

News Desk : dhakamirror.com Nobel Peace Prize winner and globally acclaimed economist Professor Muhammad Yunus was sworn-in as the chief adviser to the interim government of Bangladesh Thursday evening (8 August). President Mohammed Shahabuddin administered the oath of office to the 17-member interim government. Leaders of various political parties including BNP, Jamaat-e-Islami, Jatiyo Party, Krishak ... Read more

Dr Yunus to lead the interim government

News Desk : dhakamirror.com Nobel laureate Prof Muhammad Yunus will be the chief adviser of the interim government, said a press release of Bangabhaban yesterday. The decision came after a meeting on the formation of the interim government between key organisers of the anti-discriminatory movement and President Mohammed Shahabuddin. The heads of the three armed ... Read more

Mainul Islam made new IGP

News Desk : dhakamirror.com The government on Tuesday appointed Traffic and Driving School commandant Md Moinul Islam as the new inspector general of police. Public Security Division of the home ministry issued a gazette notification in this regard on Tuesday. The decision came a day after the fall of Sheikh Hasina government amid mass uprising ... Read more

Curfew to end on Tuesday morning; all offices, educational institutions set to open

News Desk : dhakamirror.com An ongoing curfew will be in effect from Monday midnight until 6am on Tuesday, according to the Inter-Services Public Relations Directorate. Starting Tuesday morning, all government, semi-government, autonomous, semi-autonomous, private institutions, factories, schools, colleges, madrasas, universities and all educational institutions in Bangladesh will remain open, a press release of the ISPR ... Read more

Internet likely to face disruption for 12 hours today

News Desk : dhakamirror.com Internet connectivity in Bangladesh will face partial disruption for 12 hours from this morning because of maintenance of 1st submarine cable, said Bangladesh Submarine Cables PLC (BSCPLC) in a press release. The statement said from 6:01 am to 6:00 pm, the consortium has scheduled maintenance for a land cable fault near ... Read more

Chess Grandmaster Ziaur Rahman passes away

News Desk : dhakamirror.com Bangladesh Grandmaster Ziaur Rahman passed away at a hospital in the city after suffering a heart attack during the 12th round game of the ongoing National Chess Championship at the Chess Federation on Friday. Zia bhai is no more. He breathed his last at around 6:00pm at Ibrahim Cardiac Hospital,’ confirmed ... Read more

Ending GPA-5 era, SSC results to be published with English letter grades

News Desk : dhakamirror.com The Secondary School Certificate (SSC) exams will no longer be evaluated under the Grade Point Average 1-5 scale but rather be graded with English letters. A meeting of the National Curriculum Coordination Committee with the Education Minister Mohibul Hasan Chowdhury approved the new evaluation framework on Monday (1 July). “There are ... Read more

Over 1.04 crore animals sacrificed on Eid-ul-Adha this year

News Desk : dhakamirror.com A total of 1,04,08,918 animals were sacrificed across the country on the occasion of the holy Eid-ul-Azha this year. As many as 3, 67, 106 more animals were slaughtered this year compared to previous year, the Ministry of Fisheries and Livestock said in a press release on Tuesday. This year the ... Read more