Asif Showkat
The government on Tuesday decided to form Market Intelligence Unit teams for the divisional cities of Chittagong, Rajashahi and Khulna also to monitor the market prices of essential commodities, said official sources.
On Monday the commerce ministry issued a circular announcing the revival of the MIU after 16 years, and formed three teams to monitor a number of markets in the capital. The MIU teams will monitor the prices of nine essential commodities — rice, wheat, flour, soybean oil, powdered milk, onion, potato, salt and sugar — in various markets of the cities, sources added.
‘We will also try to find out the real causes of the abnormal price-hike of essentials,’ said a senior official of the commerce ministry on Tuesday. Under the World Trade Organisation’s rules, member countries are not allowed to check the prices of commodities in markets through bodies like the Market Intelligence Unit, but may set up such units in the case of abnormal price-hike in the country’s kitchen markets, said the official.
‘The WTO authorities have relaxed their earlier rigid position of not allowing the formation of any type of market intelligence units to monitor the price-hike of commodities, and most of the member countries over the years have formed such teams to monitor the markets,’ he added.
In the circular issued on Tuesday, the commerce ministry asked the state-owned Trading Corporation of Bangladesh to form three MIU teams for the other divisional cities to monitor the nine commodities in kitchen markets and also drew up the terms of reference.
The MIU teams will monitor the markets everyday expect the weekly holidays on Friday and Saturday, and gather the wholesale and retail prices and information on the stocks of various commodities held by the traders.
The MIU teams will hold monthly meetings with the TCB before finalising and submitting their report to the concerned authorities. If necessary, the MIU will seal its report and send it to the ministers and secretaries concerned, suggesting necessary action.
Courtesy: newagebd.com
