Suggesting the measures in the proposed budget for the next fiscal, Finance Adviser Dr Mirza Azizul Islam yesterday said, "I believe, successful implementation of these programmes will usher in a positive change."

The caretaker government's different activities including the fight against corruption have been lauded since its formation in January. But public sufferings have been mounting mainly due to skyrocketing of prices of essentials, a problem which many experts have already started to identify as a possible Achilles heel of the government.

In the wake of such a dire situation, the government yesterday proposed the measures to ameliorate the public sufferings by reining in the prices of essentials.

In a bid to keep stable the market prices of a range of commodities including the essentials, the finance adviser proposed complete withdrawal of customs duties on crude edible oil and lentils, and continuation of duty free benefits for essential commodities including rice, wheat, onion, pigeon pea, and chic pea.

"We are continuing our efforts to make the market of agricultural products more competitive. The small number of wholesale markets in Dhaka is not conducive to smooth functioning of the market. The government has therefore taken initiatives to establish four wholesale markets at four corners of the city," Azizul said.

The finance adviser disclosed that the government planned to import 8 lakh tons of food grains in addition to the private sector imports to tackle the overall food deficit. In order to build up an adequate buffer stock, there will be internal procurement of food grains in addition to imports, he said.

He proposed extended implementation of the vulnerable group feeding (VGF) programme to enhance the purchasing capacity of the marginalized section of the society, which has been eroding due to the price spiral.

"I propose to allocate 4 lakh metric tons of rice for 50 lakh VGF cardholders across the country to provide subsistence coverage for 8 months. In addition to that about 6 lakh metric tons of food grains will also be distributed through test relief, general relief, food for work programmes, and vulnerable group development programmes," Azizul said.

"In order to keep the prices of food grains within tolerable limits, the government will go for open market operation, if necessary," he added.

Besides, a number of commodities will be imported by the government to increase supply. Import of rice and wheat will be doubled. The coverage of social safety net programmes will be widened and the number and amount of individual grants will be increased, the finance adviser said.

He said the ongoing efforts to arrest the spiralling of the prices of essentials will continue in the next fiscal year as well.

Currently, the National Task Force and the task forces at district and upazila levels comprising government and non-government representatives are regularly reviewing the prices of essential commodities. An inter-ministerial monitoring committee comprising representatives from different ministries and agencies is engaged in analysing the price situation of essential commodities and making recommendations, he said.

"We will strengthen the Dal-Bhat programme being implemented by Bangladesh Rifles to mitigate the sufferings of general consumers, particularly the poor. A legal framework will soon be in place to protect consumers' rights," Azizul added.

The finance adviser however blamed unbridled inflation and the production shortfall of food grains in the country and across the world for the price hike of essentials.

"You are aware of the fact that the production of food grains in the country and across the world could not reach the expected level in the current year, whereas the demand has increased. As a result, prices of food grains have increased at home and abroad."

"Unbridled inflation not only hurts the people, it also undermines the economic stability and discourages investment. It deters growth hurting the poor the most. Also it widens income inequality. We are trying our best to rein in the inflation," the finance adviser explained.

"It is expected that the average inflation will hover around 7 percent through this month and it will settle down at 6.5 percent in the next fiscal year," he said.