Finance News

The government will fix the price of 9 products including oil, rice, flour

The government will decide the price of 9 products including rice, flour, flour, edible oil, sugar, lentils, cement, rods. What should be the reasonable price of these products will be decided in the next 15 days.

This decision was taken by the Ministry of Commerce in a meeting held with the concerned persons regarding the progress of supply, storage and import process of products in the market on Tuesday afternoon. After the meeting, Commerce Minister Tipu Munshi gave this information to the reporters in a briefing. In the briefing, Commerce Secretary Tapan Kanti Ghosh, Bangladesh Trade and Tariff Commission Chairman Mahfuza Akhtar, FBCCI Senior Vice President Mustafa Azad Chowdhury, Chittagong Chamber of Commerce President Mahbubul Alam, Bangladesh Competition Commission Chairman Md. Mofizul Islam, Director General of Consumer Rights Protection Department AHM Safikuzzaman and senior officials of the Ministry of Commerce were present.

The Minister of Commerce said that if the declared price is not respected, a case will be filed against the concerned person or businessman.

Tipu Munshi said, so far Bangladesh Trade and Tariff Commission used to set the price of edible oil and sugar only. But recently, taking advantage of the global instability and appreciation of the dollar in the domestic market, the prices of these products have been inflated excessively, which should not have happened. The matters have come to the notice of the Ministry of Commerce. Stability in the market could not be created by ensuring fair prices in real terms.

The Minister of Commerce said that it was decided in the meeting that the government will decide the price from now on. Bangladesh Trade and Tariff Commission has been given responsibility.

It has been made clear to all the organizations in charge of field level including National Consumer Rights Protection Directorate, Bangladesh Competition Commission, that a case should be filed only if a trader manipulates a product or sets an unreasonable price, the disciplinary measures should not be limited to fines.