The government will conduct a drive from next week to monitor whether sugar is being sold in the market at the fixed price determined by the Bangladesh Trade and Tariff Commission.
At the same time, onions will be imported if the price of the essential keeps going up.
Commerce Minister TipuMunshi said this in response to journalists’ questions after a courtesy meeting with Helena Konig, Deputy Secretary General for Economic and Global Affairs of the European Union at the Ministry on Thursday.
The commerce minister said that due to the increase in the price of sugar in the international market, the new price has been determined. Traders including Bangladesh Sugar Refiners Association have been informed to sell loose sugar at Tk 120 per kg and packaged sugar at Tk 125 per kg as per the recommendation of the Tariff Commission.
Instructions will be issued to the concerned authorities including the Directorate of National Consumer Rights Protection, District Administration to see whether the businesses are selling the essential at this price or not in the market.
The price of onions in the market has increased a lot in the space of a few days. When asked about the government’s action in this regard, TipuMunshi said that if the price continues to rise like this, initiatives will be taken to import onion from India. Imports have been reduced as domestic onion production is adequate. The market is being monitored. If the price of onion continues to rise, imports will be made.
In response to the question whether the price of oil will be reduced or not, the minister said that the price of oil has increased mainly due to the withdrawal of VAT. We wrote to the NBR from the ministry to continue the duty exemption but they did not do so. For which the price of oil has increased. We will write again if necessary. There is a budget ahead and we are working on it.
Earlier, regarding the meeting with the Deputy Secretary General, the Minister said that a request has been made to continue the duty-free trade facility of Bangladeshi products under the ‘Everything But Arms (EBA)’ scheme till 2032 in the markets of European Union countries.
TipuMunshi said that almost five decades of partnership between Bangladesh and the European Union started with development cooperation. A strong trading partnership is currently established with the EU. More than half of Bangladesh’s total world exports go to EU countries.
