39 monitoring teams active in city essentials markets

Current prices claimed to be more or less stable at higher level, barring a few items

FE REPORT | Published: November 20, 2024 23:50:18

The government has formed 39 teams to monitor the overheated commodities markets in the city to ensure smooth supply of essential items and keep prices stable, sources said.
The teams were constituted with members from seven entities - the ministries of commerce, food and agriculture, Directorate of National Consumers' Right Protection (DNCRP), Dhaka Metropolitan Police, and Dhaka North and South city corporations.
Formed recently under an official order by the Ministry of Commerce (MoC), the teams have already started their activities in the two city corporations areas, said an official.
This is a regular job of the MoC, which has so far been proved to be hardly effective in reining in prices, said a market insider.
Officials, however, said the newly formed teams this time would have consultation with the additional or joint secretaries (IIT) of the commerce ministry, if needed, to conduct the monitoring to make it more effective.
Besides, the Joint secretary (IIT) will act as a coordinator and he will administer the teams.
Apart from conducting on-spot mobile courts, the teams will collect price data and gather information on the stock position and supply of essentials during the drives in the retail and wholesale markets in the city corporation areas, said a senior commerce ministry official.
If market conditions become abnormal, the teams would take action against the errant traders or businesspeople through on-the-spot mobile courts conducted under The Control of Essential Commodities Act, 1956 and other related laws.
The teams would discuss with the presidents and general secretaries of the markets concerned as well as monitor the OMS centres which sell rice/wheat under the food ministry.
"The commerce ministry regularly oversees and examines essential items' prices in the capital city. We take necessary steps based on market needs throughout the year," an additional secretary of the commerce ministry told The Financial Express (FE).
A member of the Consumers Association of Bangladesh (CAB) said some essential prices have declined to some extent after reaching a peak, but remained much higher.
He observed that the government often deploys market monitoring teams but consumers get little benefits. No visible impact on the prices of key items - especially rice, potatoes, eggs and onions - has been observed in recent times despite efforts by the monitoring teams.
However, a senior commerce ministry official claimed that the prices of essential commodities remain stable at present due to government actions.
He also acknowledged that the prices of one or two items might spike temporarily due to different reasons.
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