The government will intervene in the market if the prices of essential commodities are increased artificially by traders, said Commerce Minister Tofail Ahmed Sunday.
"At present prices of essential items are almost stable in the market; and there is no reason to increase the prices. The government will intervene austerely if any situation is created in future," he told a meeting while exchanging views with the businessmen on supply, price and stock situation of the essential commodities and appointment of distributors order-2011 (13) at the conference room of the ministry.
Tofail Ahmed said the prices of essential goods have to be fixed in line with prices of international markets.
The commerce minister said the country has now sufficient stock of essential commodities as the import pipeline is satisfactory and the government along with the businessmen will be able to control the price.
"There is adequate stock of essential commodities in the country now. The government will try to ensure supply chain and control the price in line with the demand," he said.
He said the price situation was stable during the last Eid-ul-Fitr and Eid-ul-Azha thanks to the cooperation of businessmen with the government.
"We have to check the prices of essential commodities throughout the year since it is our commitment to the people," he said.
Mr Ahmed said the government will take effective measures to maintain the price and supply chain through strong coordination with the businessmen.
He called upon the traders to help the government so that the prices of essential commodities remain stable not only during Eid/Puja or other festivals but also throughout the year.
The traders have assured the commerce minister to extend their cooperation to maintain the normal supply chain and keep the prices of essential commodities under control.
They said there are sufficient stocks of soybean, onion, garlic, ginger, lentil and sugar in the country that will fulfil the demand and keep the prices under control.
Replying to a question, the minister said: "We will sit with the traders of edible oil to review its prices. We will also see how much cost is involved in producing per litre of edible oil, then the price will have to be fixed."
In the meeting, the businessmen requested the commerce minister to bring down the tax rate to one stage instead of the existing three stages.
Tofail Ahmed said his ministry will take necessary steps after discussion with the ministry of finance and the National Board of Revenue (NBR) in this connection.
Some 0.141 million and 0.3 million tonnes of unsold sugar remains stored in the warehouses of different mills and private traders respectively, according to meeting sources.
Senior Secretary of the ministry of commerce Hedayetullah Al Mamoon, Director General (DG) of the Directorate of National Consumer Rights Protection (DNCRP), representatives of ministries concerned, NBR, tariff commission and different business associations and groups, among others, were present in the meeting.
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