The government has intensified its efforts to stabilise prices of essential commodities, combining policy reforms, tax measures and market monitoring to ease pressure on consumers.
Maintaining steady supply and affordability remains a top priority amid ongoing economic challenges, Commerce Minister Khandaker Abdul Muqtadir said in parliament on Sunday, responding to a starred question placed by ruling party lawmaker Sarwar Jamal Nizam.
He outlined a broad set of initiatives aimed at modernising regulation, improving supply chains and preventing price volatility in key consumer goods markets.
As part of efforts to modernise market regulation, the government has taken initiatives to amend and update the Essential Commodities Act, 1956, to make it more effective and relevant.
The minister noted that under the existing law, the government fixes prices of edible oil and adjusts them in line with international market trends. So far this year, prices have been revised three times.
He added that prices of most essential commodities remained largely stable over the past year. However, onion prices saw a temporary spike in mid-year and again during December-January.
The situation improved after the ministries of agriculture and commerce jointly allowed imports in two phases, bringing prices back to normal levels.
To strengthen long-term market management, the government has tasked the Bangladesh Institute of Development Studies with reviewing market control models in countries such as India and Indonesia to develop a suitable framework for Bangladesh, said the minister.
He also said that, on the initiative of the commerce ministry, the National Board of Revenue has reduced import duties this year on key items such as sugar, edible oil and dates, which has helped stabilise the market.
He highlighted that the Directorate of National Consumer Rights Protection is conducting regular market monitoring activities.
Daily inspections are being carried out in Dhaka, alongside ongoing drives at district and upazila levels. These efforts are intensified during Ramadan and other festive periods.
Regular meetings are also being held with producers, importers, wholesalers and retailers to review prices and address supply issues. The minister and senior officials have conducted surprise market visits, including to the Khatunganj wholesale market in Chattogram.
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