Tipu Munshi sees no problem

Commerce Minister Tipu Munshi sees no problem in the market as the prices of commodities are now within the reach of the people.
The minister said this at a press briefing at the end of the first meeting of the taskforce on essential items at his ministry on Monday.
The prices of edible oil will not ease in the local market unless the same come down in the sourcing countries like Malaysia and Brazil.
Tipu Munshi and commerce secretary Tapan Kanti Ghosh are the adviser and president of the 17-member taskforce respectively.
The task force is formed to review commodity prices and market manners and do whatever deemed fit to keep the supplies within the commoners' buying capacity.
The taskforce has made a 16-point recommendation, including displaying the price list at retail level and ensuring preservation of written receipts at both wholesale and retail levels.
It suggests that intelligence agencies increase their surveillance over artificial crisis and hoarding.
The government should also mount its surveillance at retail level to prevent extra profits, it says.
Mr Tipu says home ministry will take necessary steps to stop extortion from transporters of different essential items on highways.
He says, "We've talked to the minister about highway extortion and he (home minister) assured us of taking necessary steps preventing extortion."
"We've fixed a timeframe in the supply order of edible oils. The agencies, including the consumer rights protection directorate, are working on the issues."
Mr Tipu claims there is no shortage of essential commodities in the market.
The edible oil market has also been eased as per-litre oil now sells at Tk 158, he cites.
Edible oil prices have come down following the recent withdrawal of value-added tax at production, trading and import stages.
The minister, who is battling price spiral of essentials, says people are now getting the facility. The meeting was told that an estimated 90,000 tonnes of oil have entered the country in the past one week.
Recently, the revenue board waived 15-per cent VAT in manufacturing and 5.0 per cent in trading stages of edible oil.
It also lowered VAT on edible oils at import stage as part of market intervention to tame soaring prices of the most-consumed essential item.
After the meeting, Mr Ghosh said some recommendations have already been implemented while some are under the process of execution.
Meanwhile, Mr Tipu warns against unscrupulous traders. The government has decided to strengthen the Trading Corporation of Bangladesh (TCB) to operate its services widely across the country.
All possible steps have been taken to keep the essential goods supply and prices stable.
The taskforce has also suggested speedy unloading and customs clearance of imported goods at different ports, according to the recommendations.
Presently, both prices and supplies of multiple products in Dhaka city have remained stable, a meeting source says, adding that the situation will be kept under control during Ramadan.
Steps will be taken to stabilise the prices of garlic, sugar, edible oil, onion, date and gram during Ramadan. The members of the taskforce and senior officials of the ministry attended the meeting.
The taskforce has been formed according to a decision of a cabinet division meeting held on March 13.

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