Dhaka: Commerce Adviser Sk. Bashir Uddin today announced that the prices of essential commodities will remain stable during the upcoming holy month of Ramadan, potentially improving compared to the previous year, due to comprehensive preparations undertaken by the government.
According to Bangladesh Sangbad Sangstha, Bashir addressed the media following a taskforce committee meeting on commodity prices and market conditions held at the commerce ministry conference room. He assured that the supply chain for consumer goods is functioning normally and business representatives have committed to maintaining stable prices, similar to or better than last year.
Bashir highlighted that the government's optimism stems from a quantitative analysis of imports and production. He noted a significant 40% increase in average imports compared to the previous year, as per Bangladesh Bank data. This increase is expected to contribute to an even more stable market during Ramadan.
The adviser also addressed concerns about potential market manipulation, emphasizing that the market monitoring system is active daily. He mentioned that the Directorate of National Consumer Rights Protection will enhance its monitoring efforts specifically for Ramadan to ensure fair practices.
On the topic of edible oil prices, Bashir clarified that there is no current crisis related to gas or foreign currency, with the exchange rate remaining stable. To enhance market competition, the government has integrated approximately 500,000 tons of locally produced Rice Bran Oil, leading to retail prices reportedly being lower than the rates set by the government.