Dhaka: Commerce Minister Khandakar Abdul Muktadir today informed the Jatiya Sangsad that the government has taken various measures to control the market of essential commodities and ensure their supply at reasonable prices. Replying to a starred tabled question from ruling party lawmaker Sarwar Jamal Nizam (Chattogram-13) in the House, the minister said the Ministry of Commerce is actively working to maintain stability in the market and ensure uninterrupted supply of essential goods.
According to Bangladesh Sangbad Sangstha, the government has initiated the process to update and amend The Control of Essential Commodities Act, 1956, to make it more time-befitting and effective for market control. The minister highlighted that the prices of edible oil are currently fixed by the ministry under the existing law and adjusted in line with international market prices, with three revisions in the current calendar year.
The minister noted that while most essential commodity prices remained stable last year, onion prices saw temporary spikes during mid-year and in December-January. These were addressed by opening imports twice through joint decisions of the agriculture and commerce ministries. A research initiative has also been undertaken by assigning the Bangladesh Institute of Development Studies (BIDS) to review market control models of other countries to develop a suitable model for Bangladesh.
The National Board of Revenue (NBR) has reduced import duties on sugar, edible oil, and dates following the Commerce Ministry’s initiative, which has helped in maintaining price stability. Regular market monitoring drives are being conducted by the Directorate of National Consumer Rights Protection with increased inspections during Ramadan and other major festivals.
Meetings have been held with producers, importers, wholesalers, and retailers to monitor supply and prices. The minister and secretary have conducted surprise market inspections, including visits to Chattogram’s Khatunganj wholesale market. Additionally, meetings with LPG importers and distributors are being held to maintain supply and price stability, with banking-related issues of importers and producers being resolved to ensure an uninterrupted supply of essential goods.
Special task forces at the district level are conducting regular inspections of warehouses, cold storages, supply chains, and wholesale markets to monitor prices and ensure minimum price differences between producers, wholesalers, and consumers. Regular meetings with business leaders and chamber representatives are also held to review and control prices of essential commodities.
Furthermore, around one crore low-income people are receiving subsidised rice, soybean oil, sugar, and lentils through the TCB card distribution programme, which helps stabilize the market and ensure affordable food supply for the poor. The minister also mentioned the launch of a pilot agricultural market in Sylhet, which collects products directly from farmers and will be expanded nationwide if successful.