Govt to fix prices within 15 days

The government will fix the retail sale prices of nine essential commodities, including rice, wheat, flour, edible oil, sugar, lentil and onion, within the next 15 days.
It also warns of taking legal action against price manipulators to ensure the sale of the essential items at fixed rates set by the government.
On Tuesday, commerce minister Tipu Munshi told reporters at his secretariat office after a meeting on the review of prices, stock and supply of commodities.
He says, "We've discussed overall situation of essential items. The meeting has decided that the Bangladesh Trade and Tariff Commission (BTTC) will fix the prices of nine essentials."
The consumer goods are rice, wheat, flour, edible oil, sugar, lentil, onion, MS products and cement, he adds.
Mr Tipu says the BTTC will fix the prices within the next 15 days in consultation with stakeholders, including traders concerned and trade bodies.
The items must be sold at fixed prices. Otherwise, consumer rights protection department and competition commission will fine and sue price-fixers directly.
Mr Tipu warns that the government will use all kinds of legal action against the dishonest traders who will rig the prices of such items.
He has sounded an alarm bell over the prices of essential commodities, saying that the government is now at a rigid position in this regard.
The law has a three-year jail provision to punish any trader/business found involved in the rigging of the prices of essential items.
The minister says the government will provide all cooperation to genuine traders.
Some goods rise in price across the country due to the volatile dollar market, rising global prices and fuel price hike in the domestic market, he adds.
Mr Tipu says some essential goods prices have soared in the last couple of days. A section of unscrupulous traders made a hefty profit from volatile markets.
Replying to a query, he says: "We may sit in the first week of the next month (September) on edible oil price."
Senior commerce secretary Tapan Kanti Ghosh, senior officials of different ministries and state agencies were present at the meeting.
Representatives from top importers, retailers and wholesalers, edible oil and sugar refiners, poultry sector, steel and cement manufacturers associations, auto rice millers and retail and wholesale market, and leaders of FBCCI and others, were also present.

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