The ministry of commerce (MoC) will sit next month (November) to devisee a mechanism for keeping prices of essential items stable in the domestic market, officials said.
A meeting of the MoC committee concerned, scheduled for November 2, is expected to discuss the supply chain, prices and market situation of the key commodities, they said.
The ministry formed the observation and evaluation committee of prices and supply of essential items in August.
"We want to keep the prices of essential items within the common people's purchasing capacity. For this, we have to look after the market situation," MoC senior secretary Hedayetullah Al Mamoon, ndc, told the FE Thursday.
"We will sit in a meeting on the supply chain, prices and market situation of the essential items. In the meeting, we will mainly discuss the initiatives, necessary to keep prices and supply of the necessary goods further stable for consumers."
Market prices and supply of the essentials are now in a good position, he also said.
"We will hold meetings often to check any surge in prices of the essential commodities."
In June, the government formed a total of 14 inspection teams to monitor price movements and prevent any untoward situation in the commodity markets, especially in the city, during the holy month of Ramadan.
Each team consists of nine members, drawn from different ministries, government agencies and business associations.
"The ministry closely monitored the price situation during the Ramadan to protect the common people from abnormal price hike. Our experience is that the essentials' prices used to rise to an unacceptable level during the festivals," said a senior official of MoC.
"For this, our price hike control plan, which started from the Ramadan, will continue till December."
The MoC teams inspect the wholesale and retail markets of the essential items in the capital. They also collect information on their price, stock and supply situation during inspection, a deputy secretary of MoC told the FE Friday.
If any kind of abnormal situation arises in the market, the teams take action by conducting instant mobile courts against the traders responsible.
The teams will also take stringent actions against market manipulators under the country's existing legal provision to ensure fair prices of essentials, said officials.
It is important to ensure that each consumer can purchase the daily commodities at reasonable prices, said an official of MoC.
"We hope that the government measures will keep the market stable, not only during the Ramadan but also throughout the year," he added.
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MoC sits in Nov to devise price battle on essentials
Rezaul Karim | Published: October 25, 2014 00:00:00 | Updated: November 30, 2024 06:01:00
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