Dhaka: The proposed price hike of bakery products, including biscuits and bread, has been put on hold following a meeting between the government and business leaders today. The decision emerged from a meeting at the Ministry of Commerce, chaired by Commerce Minister Khandakar Abdul Muktadir, as stated in a press release.
According to Bangladesh Sangbad Sangstha, the meeting delved into the recent announcement by businesses to increase prices of bakery products and the associated production and marketing costs. Representatives from relevant business organizations participated in the discussions. Following the deliberations, business leaders agreed to suspend the decision to raise the prices of biscuits and bread temporarily.
A committee headed by the chairman of the Bangladesh Trade and Tariff Commission (BTTC) has been established to examine the costs related to the production and marketing of bakery products, including raw material prices, taxes, duties, and other pertinent issues. The committee has been tasked with submitting its report within seven days, after which the government will make further decisions based on the committee's findings.
The government emphasized during the meeting its commitment to maintaining stability in the market of essential food items, prioritizing public and consumer interests while ensuring that businesses do not incur losses. It also mentioned that necessary measures will be coordinated with all relevant stakeholders to ensure the supply of products at reasonable prices. Commerce Secretary Md Ataur Rahman Khan and leaders of the bakery product businesses were present at the meeting.