Business leaders have agreed to temporarily suspend their decision to raise the prices of bakery products, specifically biscuits and bread.
The agreement was reached on Tuesday during a meeting held at the Ministry of Commerce, chaired by Commerce Minister Khandakar Abdul Muktadir.
The meeting featured detailed discussions regarding the recent announcement by traders to increase bakery product prices, as well as associated production and marketing expenses. Representatives from relevant trade organisations participated in the talks.
Following these deliberations, business leaders consented to hold off on hiking biscuit and bread prices for the time being.
Meanwhile, a committee led by the Bangladesh Trade and Tariff Commission chairman has been formed to review production and marketing costs, raw material prices, taxes, duties, and other related factors.
The committee has been directed to submit its report within seven days. Subsequent decisions will be taken after reviewing the relevant issues based on the findings of that report.
It was stated at the meeting that the government will take initiatives to keep the market for essential foodstuffs stable, giving top priority to public interest and consumer welfare without causing financial harm to businesses.
Necessary measures will also be taken in coordination with all stakeholders to ensure the supply of goods at reasonable prices.
The meeting was attended by Commerce Ministry Secretary Md Ataur Rahman Khan, Bangladesh Trade and Tariff Commission Chairman Nasir Ud Doula, and leaders of bakery product trade associations.
