TCB, BDR will help stabilize market during Ramadan
FE Report | Friday, 11 July 2008
Commerce adviser Hossain Zillur Rahman Thursday said the Trading Corporation of Bangladesh (TCB) and the Bangladesh Rifles (BDR) will work to ensure that the prices of essential items remain under control during the upcoming Ramadan -- the month of fasting.
He said the government would also apply all tools to stabilise the market of the essential commodities if prices start to gallop.
"We have taken some special programmes ahead of the fasting month of Ramadan. The TCB and BDR will work to ensure smooth supply of some essential products during the period," Zillur told reporters after a workshop in the city.
When asked about the government's effort to tame the unusual price hike, the adviser said: "The government will continue to apply its all elements to stabilise the prices of daily needs. I think the prices will come down as prices of food items in the international markets have started falling."
"Besides, the government is also implementing different social safety-net programmes to feed the hardcore poor whose incomes have come down," he said.
"The international monetary fund has forecasted that the global food prices globe is now down-sizing. The price of edible oil is also coming down. So, we think the present price level will fall soon," he said.
"There is a bumper boro production this year. In addition, the government has a plan to assist in the production of higher quantity of Aman rice in the upcoming season. Therefore, the food price will be at tolerable level," he added.
Zillur urged the economic actors to play their due role to stabilise the market of the essentials along with the government.
The people in Bangladesh are hard hit by the effects of spiralling price of essential commodities especially food which increased by more than 60 per cent over the last one year.
The inflation of the country has also crossed the double digit over the last couple of months affecting the middle, lower-middle and poor people seriously.
When asked, finance adviser Mirza Azizul Islam, who also attended at the same workshop, said we have taken some budgetary measures to tame the prices of the essentials.
"We've withdrawn custom duty from some essential items and have taken steps to augment food production. These will raise the supply. In addition, we have widened the social safety-net programmes for those people who are still in difficulties even after the above measures are taken," he said.
He said the government would also apply all tools to stabilise the market of the essential commodities if prices start to gallop.
"We have taken some special programmes ahead of the fasting month of Ramadan. The TCB and BDR will work to ensure smooth supply of some essential products during the period," Zillur told reporters after a workshop in the city.
When asked about the government's effort to tame the unusual price hike, the adviser said: "The government will continue to apply its all elements to stabilise the prices of daily needs. I think the prices will come down as prices of food items in the international markets have started falling."
"Besides, the government is also implementing different social safety-net programmes to feed the hardcore poor whose incomes have come down," he said.
"The international monetary fund has forecasted that the global food prices globe is now down-sizing. The price of edible oil is also coming down. So, we think the present price level will fall soon," he said.
"There is a bumper boro production this year. In addition, the government has a plan to assist in the production of higher quantity of Aman rice in the upcoming season. Therefore, the food price will be at tolerable level," he added.
Zillur urged the economic actors to play their due role to stabilise the market of the essentials along with the government.
The people in Bangladesh are hard hit by the effects of spiralling price of essential commodities especially food which increased by more than 60 per cent over the last one year.
The inflation of the country has also crossed the double digit over the last couple of months affecting the middle, lower-middle and poor people seriously.
When asked, finance adviser Mirza Azizul Islam, who also attended at the same workshop, said we have taken some budgetary measures to tame the prices of the essentials.
"We've withdrawn custom duty from some essential items and have taken steps to augment food production. These will raise the supply. In addition, we have widened the social safety-net programmes for those people who are still in difficulties even after the above measures are taken," he said.