Commerce Minister Khandakar Abdul Muktadir on Thursday warned of strict action against traders attempting to artificially raise prices during Ramadan, saying the country has adequate stocks of essential commodities, with more imports in the pipeline.
He issued the warning at a meeting with importers and traders at the Chattogram World Trade Centre, organised by the Chattogram Chamber of Commerce and Industry to discuss uninterrupted supplies and market stability.
Muktadir said stocks of sugar, chickpeas, dates, onions and edible oil were sufficient. Traders acting individually or collectively to deliberately inflate prices during Ramadan or at any other time would face strict action.
The government is also developing long-term agricultural production plans based on regional geographical advantages to curb seasonal shortages and abnormal price increases by determining which crops should be grown where and when.
To ease business procedures, the minister said trade licences, registration with the Registrar of Joint Stock Companies and Firms (RJSC), Import Registration Certificates (IRC), Export Registration Certificates (ERC) and agricultural import permits would be made available online, allowing traders to obtain them from home with a single click instead of visiting government offices.
He also announced plans to allow clearance of imported bitumen and sodium sulphate solely on the basis of Pre-Shipment Inspection (PSI) reports to resolve difficulties faced by traders.
Chattogram Chamber President Mohammed Amirul Haque pledged cooperation with the government to maintain stable supplies and prices during Ramadan. He said imports and supplies of lentils, rice, chickpeas, wheat, soybean oil, palm oil and sugar would be monitored regularly, while government-business coordination meetings would review market conditions every 15 days.
Former Chattogram Chamber President and Port Users Forum Chairman Amir Humayun Mahmud Chowdhury urged an end to transport disparities affecting shipments from Chattogram to other regions and sought the minister’s support for early implementation of a Cargo Village at Shah Amanat International Airport, similar to facilities in Dhaka and Sylhet.
Former Chamber President Ali Ahmed called for stronger skills, expertise and capacity development among Bangladesh’s negotiators handling bilateral and regional trade agreements to protect national interests.
