Chattogram:The government is actively working to ensure an uninterrupted supply and reasonable pricing of essential commodities during the upcoming holy month of Ramadan, as stated by Commerce Minister Khandakar Abdul Muktadir.
According to Bangladesh Sangbad Sangstha, the government has initiated several measures, including rationalizing duties on fruits and dates, discussing lower interest rates on bank loans for importing consumer goods, and removing obstacles in transportation and clearance of imported goods. These efforts aim to prevent artificial shortages and unreasonable price hikes, with regular market monitoring being a key strategy.
Minister Muktadir made these remarks while speaking at a meeting with traders and importers organized by the Chittagong Chamber of Commerce and Industry (CCCI) at the World Trade Center in Chattogram. He assured that sufficient supplies of essential commodities, such as edible oil and sugar, are already in the pipeline, with normal operations for opening letters of credit for imports.
The minister emphasized the importance of reducing import costs to keep essential prices affordable for consumers. He mentioned efforts to reduce the effective duty on fruits, currently at 121 percent, and highlighted a letter sent to the National Board of Revenue seeking a reduction in the duty on dates.
Furthermore, discussions are planned with the governor of Bangladesh Bank to potentially lower interest rates on bank loans for importing consumer goods. Muktadir also addressed the issue of high fruit prices, deeming them unacceptable, and cited price reductions following actions by consumer protection authorities.
To improve supply-chain efficiency, the government is working to enhance Chattogram Port's efficiency and streamline transportation processes. Additionally, a fully online trade licence system is being developed to simplify business operations, along with modernizing the Registrar of Joint Stock Companies and Firms.
The minister announced plans to introduce mandatory pre-shipment inspections for certain imports to ensure quality and transparency. On the topic of fuel prices, he explained that while the government has provided subsidies, a minor price adjustment was necessary for fiscal balance.
Regarding government employee salaries, Muktadir noted that steps are being taken to address inflation-related purchasing power erosion, with adjustments to be implemented gradually over the next year.
Business leaders at the meeting assured the government of their commitment to maintaining adequate supplies during Ramadan. CCCI President Mohammad Amirul Haque and other trade representatives pledged transparent business practices and consumer protection efforts, highlighting their readiness to support market stability.