Government working to ensure supply and reasonable prices of essential commodities in Ramadan: Commerce Minister

He said this while speaking as chief guest at an exchange of views meeting with businessmen and importers organized by The Chittagong Chamber of Commerce and Industry (CCCI) at the World Trade Center in Chattogram on Thursday.

The minister said there is adequate supply of essential commodities including edible oil, sugar, lentils, chickpeas, and wheat in the pipeline, and the process of opening letters of credit for importing these goods is normal. Work is underway in coordination with relevant agencies to keep supply uninterrupted throughout the year, including Ramadan.

Noting that initiatives have been taken to reduce import costs to lower the prices of essential commodities, he said a letter has been sent to the NBR regarding rationalizing duties on fruits and reducing duties on dates. Discussions will also be held with Bangladesh Bank about reducing bank loan interest rates for importing consumer goods.

The commerce minister also said regular market monitoring will continue to prevent artificial crises and unreasonable price hikes. He said that even after paying duties, a price of Tk 400–500 for Malta is not acceptable. Prices have fallen after operations by the Directorate of National Consumer Rights Protection and the administration.

The minister said initiatives have been taken to increase the efficiency of Chattogram Port and remove transport obstacles to reduce the cost of the supply system, adding that the goal is to reduce logistics costs from 16 percent. Alongside this, work is underway to fully online trade licenses, modernize the RJSC, and introduce a system for verifying identity from home for share transfers.

He also said that an in-principle decision is being taken to make pre-shipment inspection (PSI) mandatory for the import of sodium sulfate and bitumen to ensure the quality and transparency of imported industrial raw materials.

At the meeting, CCCI President Mohammad Amirul Haque and other business leaders assured adequate supply of major consumer goods, including rice, lentils, chickpeas, wheat, edible oil, and sugar, during Ramadan. They said that along with monitoring market demand and stocks, they would coordinate with the port, customs, and government agencies to keep cargo clearance uninterrupted.