Sugar stocks sufficient

Government statistics say there is no shortage of sugar in the market and there are sufficient stocks to last till Ramadan, which is still around four months away, said Industries Minister Nurul Majid Mahmud Humayun yesterday. 

Still, the ministry of commerce has been instructed to bring another 100,000 tonnes as some unscrupulous traders are creating an artificial crisis, he told journalists at Rajshahi Circuit House.

The minister was addressing a views-exchange meeting organised by Rajshahi district administration and Bangladesh Small and Cottage Industries Corporation's local unit with businesspeople, political leaders and industry stakeholders on ensuring a business-friendly environment for drawing investment.

However, people are feeling the pinch of rising sugar prices amidst a supply crunch, said Humayun.

The government raised prices in the first week of October apparently to stay in tune with the market where traders were already charging higher than a previously fixed rate.

According to the new government rates, loose sugar will cost Tk 90 per kilogramme (kg) while packaged sugar Tk 95 in the retail market.

Over the past three weeks, the price of a kg has gone up by Tk 40, said food entrepreneur Zinnat Quayum.

Three weeks ago, she bought each kg for Tk 90. But after one week it went up to Tk 100.

"I bought sugar at Tk 130 per kg four days ago," she added.

Meanwhile, the industries minister said Rajshahi has become known for its aesthetics, and he had come to discuss how to take the city forward through eco-friendly industries.

Some demands have come up which he and Rajshahi City Corporation Mayor AHM Khairuzzaman Liton will forward to the prime minister.

Local and foreign businesspeople are being invited to reopen state-owned factories under the ministry of industries in phases through public-private partnerships, said the minister.

New machinery will be provided to replace those that have turned obsolete, he added.

Deputy Commissioner Abdul Jalil presided over the event where the mayor was the special guest.