Issuing warning against the possible price hike of essential items during the upcoming holy month of Ramadan, a state intelligence agency made some recommendations including taking stern action against unscrupulous traders and hoarders.
The special intelligence report suggested that the commerce ministry stay alert to unscrupulous traders who might rig the commodity market during the fasting month.
Citing its own report, the agency also suggested that the ministry remain alert to foil any ill-motive of the manipulators as well as racketeers.
"The prices of some key essential items may increase in the market in Ramadan unless adequate supplies of such items including edible oil, sugar, gram and date are ensured," according to the report.
It recommended that state and private agencies including Trading Corporation of Bangladesh (TCB) take necessary steps with an advance import plan for such items.
The report suggested strengthening the activities of Directorate of National Consumer Rights Protection, local administration and mobile court to keep the prices of these items under the purchasing capacity of the general people.
It opined that the authority should prepare a guideline on food grains and essential items to ensure the country's food security.
The special report also suggested forming a high-powered committee comprising a district high official, representatives from law enforcement agencies, state intelligence agency and taking required steps to ensure sufficient supply of goods in the local markets.
It further suggested pressuring on traders, importers and stakeholders concerned by taking effective measures by the commerce ministry and National Board of Revenue (NBR) to keep the prices of essential items stable in line with their additional demand during the holy month.
Besides, it said the regulator concerned can provide temporary tax and VAT waiver facility to traders of essential commodities.
The special report expressed fears that excessive demand for edible oil during Ramadan could lead to unusual price hike of cooking oil in the market.
The report also found that a trend in earning excessive profits and market mismanagement in this regard were responsible for a surge in rice prices recently.
The commerce ministry had already asked its market monitoring agencies to intensify vigilance so that none can raise commodity prices in the name of short supply, linked to resurgence of coronavirus infection in the country.
When contacted, a senior official of the commerce ministry said, "The market monitoring teams have been reinforced. We've asked them to be more careful about their duties throughout the year especially during Ramadan."
"We've have taken necessary steps to ensure a sufficient stock of essential items to meet the demand during Ramadan," he added.
TCB, a state-owned agency, would launch open market sale (OMS) of key essential items from April 01 next to keep the prices within the buying capacity of the common people ahead of upcoming Eid-ul-Fitr.
TCB would sell essential commodities in different parts of the country, using over 500 trucks in Dhaka, Chattogram and other divisional cities and each district town.
Sugar, red lentil, onion, soybean oil and date would be sold through trucks, according to the TCB.
The OMS programme would continue across the country until May 06, said a press release issued by the TCB.
The commerce ministry would take tough measures to control the prices of key kitchen goods', a high official said.
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