• Financial

The government will decide the price of rice and wheat like oil: Commerce Minister

  • Financial
  • 31 August, 2022 00:36:17

Photo: Collected

News Desk: The government will fix the prices of nine products including edible oil, rice, wheat (flour), sugar, lentils, onions, rods and cement. The Tariff Commission will determine the reasonable price of these products within the next 15 days. Legal action will be taken against anyone who charges more than the prescribed price.

Commerce Minister Tipu Munshi gave this information to reporters after a meeting held at the Ministry of Commerce on Tuesday (August 30) regarding the price of daily necessities.

In response to the questions of the journalists, the Minister of Commerce said, the high value of the dollar in the international market, the general issues taking advantage of the businessmen of our country were discussed in the meeting. Usually our Tariff Commission fixes the price of edible oil sitting from time to time. If you ever need to increase, sit with them (businessmen) and increase. And when the price falls in the international market, its impact on Bangladesh should be reduced.

"But we have noticed an increase in the prices of various items, which is unacceptable. Not all is what our Commerce Ministry was supposed to see, though. There is the issue of agricultural products, there is rice, which the Ministry of Food or the Ministry of Agriculture will look into. Then comes the egg. Egg prices have increased in the middle. Eggs were never considered by the Ministry of Commerce, nor were we concerned. Still, after the question came, I had to decide - if necessary, I will import eggs. In any case, the price of eggs has decreased in the next stage.

The minister said, the meeting discussed how to reduce or correct. Many times we cannot reduce due to international market influence. But we have decided after some discussion so that the consumers do not have to buy at a higher price than it should be.

The government has reduced the tax on rice. So that the cost of importing will be less like 8 rupees. In fact, some products we think should be increased in price, they have increased more than that. For which it has been decided today - the tariff commission will decide the price of these products from now on, sitting with the traders and this price will be announced. It should be sold at this price in the market. If someone takes more than this, in that case, not only the fine against them, we have decided that we will go straight to the case.

"The law has a three-year jail term or a higher fine elsewhere. We will take that step. Whatever we have in our power, those who will increase immorally.. will begin immediately. It has been said that within 15 days the items will be calculated and declared in the market, this is the price.

He said, if we have to depend on the international market, then if the price of the international market rises, the price will increase here. It will be decided how much it should be increased.

Tipu Munshi said that the price of goods has decreased in the international market. Yes, it's true. We have reduced the price of soybean oil or the price of palm oil. Also, unfortunately for us, the dollar has gone up. For which, while calculating, it is seen that we are not getting the benefit that we could get. However, we will be closely monitoring the hot suit to be the right price. That is what we will declare.

He also said that our government reduced the price of fuel oil yesterday, we will see what its effect is. In today's situation, the price of various goods in the market is increasing, decreasing, the dollar price is unstable, it is difficult to coordinate all of them. But we will take all seriously and take necessary action.

In response to a question from reporters, the Commerce Minister said, "At the moment, we have fixed nine products." Apart from this, if there is anything essential, I will also bring it in the policy. We have discussed in detail about rod, cement, egg. Nine items have come up for discussion today, if there is any need beyond that…. For example, the egg will be an item to be discussed, but it was not our idea. So every day new additions will be made. We will also increase items as needed.

How often will the price be determined? In response to such a question, he said, once every month we will review the whole thing.

What was decided in the meeting? In response to such a question, the Commerce Minister said that the Tariff Commission has been given the responsibility to find out the reasonable price of all products, not just oil. It will be done with those who are Kansan people. Direct legal action will be taken against those who do not comply.

The second is that if we feel that the duty should be reduced somewhere, like rice has been reduced, we will reduce the duty on these products. So that no one can take monopoly advantage.

He also said, we want to go in a strong state. We will encourage those who set the right morally fair price. But we will take action against those who want to take the opportunity.

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