Price situation concerns CA
Wednesday, 12 March 2008
FE Report
Chief Adviser Fakhruddin Ahmed Tuesday expressed concern over the present price situation of the essential items and directed the authorities to adopt measures to tame the overheated local market.
"At a meeting on price today the Chief Adviser expressed concern over the present price situation of the essential commodities as he discussed the possible measures to bring it down," Commerce Adviser Hossain Zillur Rahman said after attending the meeting.
He said: "We've taken some specific decisions at the meeting. But I will not disclose them now."
"We'll finalise and disclose the government's strategies after arranging some follow up meetings with the government agencies concerned and other stakeholders," he said.
The meeting discussed the price and supply situation of some essential items including rice, wheat, edible oil, sugar, pulses and onion, with Chief Adviser Fakhruddin Ahmed in the chair.
When asked about the unusual price hike of edible oil in the local market, Hossain Zillur Rahman said the price of the item in the world market has fallen to some extent, its price in the domestic market will come down too.
Replying to another question, he said the country has long been pursuing market economy, but now the government is convinced that it has something to do to control the soaring price of the essentials.
"The state has a role to develop an effective and competitive market management system," he said.
Asked whether the government will reactivate the state-trading agency TCB and further strengthening the market intervention by BDR, the commerce adviser said the government is considering all possible options to stabilise the market.
Commerce Secretary Feroz Ahmed said: "We have discussed the present price and supply situation of the essential commodities. Now, we will analyse the supply position and the prices in terms with the situation in the global markets aiming to find out the actual reasons behind the price hike."
"The wholesalers blame the edible oil refiners saying they are not getting adequate supply. On the other hand, the refiners say they do not control the normal supply. Now, we will examine the actual supply situation of the item and take necessary measures," Ahmed told the FE Tuesday.
Chief Adviser Fakhruddin Ahmed Tuesday expressed concern over the present price situation of the essential items and directed the authorities to adopt measures to tame the overheated local market.
"At a meeting on price today the Chief Adviser expressed concern over the present price situation of the essential commodities as he discussed the possible measures to bring it down," Commerce Adviser Hossain Zillur Rahman said after attending the meeting.
He said: "We've taken some specific decisions at the meeting. But I will not disclose them now."
"We'll finalise and disclose the government's strategies after arranging some follow up meetings with the government agencies concerned and other stakeholders," he said.
The meeting discussed the price and supply situation of some essential items including rice, wheat, edible oil, sugar, pulses and onion, with Chief Adviser Fakhruddin Ahmed in the chair.
When asked about the unusual price hike of edible oil in the local market, Hossain Zillur Rahman said the price of the item in the world market has fallen to some extent, its price in the domestic market will come down too.
Replying to another question, he said the country has long been pursuing market economy, but now the government is convinced that it has something to do to control the soaring price of the essentials.
"The state has a role to develop an effective and competitive market management system," he said.
Asked whether the government will reactivate the state-trading agency TCB and further strengthening the market intervention by BDR, the commerce adviser said the government is considering all possible options to stabilise the market.
Commerce Secretary Feroz Ahmed said: "We have discussed the present price and supply situation of the essential commodities. Now, we will analyse the supply position and the prices in terms with the situation in the global markets aiming to find out the actual reasons behind the price hike."
"The wholesalers blame the edible oil refiners saying they are not getting adequate supply. On the other hand, the refiners say they do not control the normal supply. Now, we will examine the actual supply situation of the item and take necessary measures," Ahmed told the FE Tuesday.