Prices of commodities will not increase during Ramadan: Trade Advisor
Commerce Advisor Sheikh Bashiruddin has said that prices of commodities will not increase in the upcoming Ramadan. He said this at a policy conclave titled ‘Reasonable Prices of Food Products: Exploring Strategies for Market Supervision’ at a local hotel in Dhaka on Sunday afternoon.
The Commerce Advisor said, ‘There is no crisis of oil, sugar, chickpeas and dates in the market. Prices of commodities will not increase in the upcoming Ramadan. There is sufficient import system and stock in the country. InshaAllah, there will be no problem on the occasion of Ramadan. The prices of various commodities that I see in the international market, I do not see any reason for the prices to decrease in the domestic market, I do not see any reason for the prices to increase.’
In response to a question, the Commerce Advisor said, ‘There is a Competition Commission to ensure proper market practices, there is a Department of Consumer Rights Protection, and there is a TCB to increase the scope of business. Above all, the Tariff Commission and NBR are working to make the market bearable for the consumers. We call on local producers, importers and traders to create a competitive market.’
He said, ‘5-6 lakh tonnes of rice bran oil used to go to India every year. Rice bran oil is very good for health. We have made its export difficult. A 25 percent regulatory tax has already been imposed. When this oil comes to the market, the oil market will be more stable than it is now. There is no difference between bottled oil and open oil, the only difference is the price.’
Sheikh Bashiruddin said, ‘To ensure competition in the market, the government is taking initiatives to make the Competition Commission independent. Our policies are made for the benefit of the wealthy class, not for the common people. There has been no major investment in the country in the last 15 years, and as a result, employment has not increased. How will tax collection increase if investment does not increase?
Banks have been turned into criminal institutions. Islamic banks and TCBs have been destroyed. 4.3 million fake beneficiaries were found in the TCB list, which needs to be further verified.’
National Board of Revenue (NBR) Chairman Md. Abdur Rahman Khan, former professor and economist at Jahangirnagar University Anu Muhammad, Secretary (Routine Responsibilities) of the Ministry of Commerce Md. Abdur Rahim Khan, Chief Organizer of the National Citizens Committee Sarjis Alam, and Chief Coordinator of the Anti-Discrimination Student Movement Umama Fatema spoke at the event.
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