Commerce Adviser Sk. Bashir Uddin today said the government is “well-prepared” to ensure uninterrupted supply and stable prices of essential commodities ahead of the holy month of Ramadan, says BSS report.
Speaking to reporters at the Ministry of Commerce, he highlighted increased LC openings for key food items and recent price drops of sugar, lentils, chickpeas and eggs. “InshaAllah, we hope to keep edible oil prices stable as well. We welcome any logical proposal but won’t accept unjustified moves,” he said.
He added that LC openings this year are higher than last Ramadan, indicating no major supply concerns.
No Justification for Sudden Edible Oil Price Hike
Addressing the recent spike in edible oil prices, the Adviser said several companies raised prices “without any legal basis” and without consulting the government. He learned of the hike only “half an hour earlier,” calling the move unacceptable.
The ministry recently purchased 50 lakh litres of soybean oil through open tender at a rate Tk 20 per litre lower than current retail prices, he noted. “If we can buy oil cheaper through tender, what justification is there for selling it at such a high rate? I find no logical reason,” he said.
Govt Authority Over Essentials ‘Clear and Intact’
Sk. Bashir Uddin reaffirmed that the government will take necessary action and that the ministry’s regulatory authority over essential goods remains firm. Claims from industry associations that companies need no approval before raising prices were dismissed outright.
“We don’t acknowledge such a position,” he said, adding that discussions with concerned companies are underway and actions will follow established laws and regulations.
He stressed that market stability and consumer protection remain the government’s top priority and warned that any violation of law will face consequences.