Finance and Planning Adviser Dr Mirza Azizul Islam said Monday it is difficult to give guarantee about upward or downward movement of prices of the consumer goods because of their relation with a number of factors.
The factors, according to the Dr. Aziz, relate to monetary and fiscal policies, and international market, the last one remaining unstable due to continuous hike in the prices of fuel oils and other commodities during last one year.
"Due to these factors, none can give 100 per cent guarantee about increase or decrease in prices of consumer goods," he said coming out of a meeting on the Tk 3.0 billion 'fund for climate change'.
Dr Aziz, who hit the headlines Saturday for his observation on price hike, admitted that he had suggested not to compare the latest market situation with that of Sayesta Khan, the ruler of Bengal during Mughal empire.
He, however, said his observation on this particular area was highlighted in the electronic and print media 'selectively' which created lot of confusions.
"The media highlighted this particular part and omitted the outer relevant parts to my observation," he said.
He said the media did not distort his observation but missed the linkages to the issue. "The media should have highlighted my observation in full, he said.
Dr Aziz said the caretaker government has taken three major steps through the budget for fiscal 2008-09 to offset pressure on the poor and the general people from soaring inflation.
The measures include withdrawal of duties from almost all essential commodities, expansion of social safety net and creation of job opportunities.
The finance and planning adviser said about 66 per cent of the Tk 3.0 billion worth 'climate change fund' will be spent in the current fiscal.
The rest of the money, as per meeting decisions, will be deposited in the bank to maintain a revolving fund.
A board of trustees will formulate the guideline and other related issue of the fund that will be the implemented by the ministry of environment.
Besides, Dr. Aziz said, a paper on the country's risks due to the global climate change will be presented at a special meeting between the country and its development and donor agencies.
The special meeting, organised by the DFID, will be held in London next month.
