Actions against people creating essentials\\\' crisis

Rezaul Karim | Published: February 11, 2014 00:00:00 | Updated: November 30, 2024 06:01:00

The government has decided to take tough actions against people involved in creating artificial crisis of key essential items in domestic market, officials said.
The decision came following a meting at the Ministry of Commerce (MoC) recently.
In the meeting, the MoC has taken nine decisions in line with the present government's election manifesto, sources said.
"The government must act firmly against people, who are hoarding key essentials, leading to their artificial scarcity and sharp price escalation," a MoC high official told the FE.
Firstly, the government will set priorities among the MoC's activities following the election manifesto. Then necessary work-plans will be prepared to implement those priorities.
Artificial crisis of the essential items will be checked through constant monitoring. Time-befitting steps will be taken to keep their prices stable by ensuring adequate supply in the market, he said.
Besides, institutional limitation of the Trading Corporation of Bangladesh, the National Consumer Rights Protection Department and The Registrar of Joint Stock Companies and Firms will be removed to speed up their activities.
A work-plan will be prepared through Bangladesh Tariff Commission to increase non-tax revenue.
The MoC high official also said the government will take pragmatic steps for expansion of export markets and diversification of export items, including increasing export opportunities of non-traditional items. In this connection, commercial wings of the missions abroad will be strengthened.Â Â Â Â
The government is moving ahead considering common people's interest as its priority. In line with the priority the MoC has taken several steps to gradually tackle price hike of the essential items and keep their prices within the reach of the commoners.
The government will closely watch dishonest traders, who indiscriminately raise the essentials' prices to create artificial crisis and thus make windfall profits, he added.