Govt to monitor prices of nine consumer items

The caretaker government will regularly monitor the prices of nine consumer items, including five core food products, to curb price-hike.
Of the items, five core food products are rice, wheat, pulses, edible oil and powdered milk, while the rest four are salt, sugar, potato and onion.
Commerce Adviser Hossain Zillur Rahman said this yesterday after a meeting at the commerce ministry with traders, business leaders, economists and chiefs of different public institutions and organisations like NBR, Bangladesh Bank, Agriculture Extension
Department, Bangladesh Rifles and Bangladesh Bureau of Statistics.
FBCCI Administrator and former adviser to a caretaker government Syed Monjur Elahi was present at the briefing.
"We have decided to give special focus on these nine items and monitor the market on a regular basis,” the commerce adviser said.
He mentioned that the meeting was convened as part of the government's ongoing efforts to identify the reasons behind the instability in the market and take necessary measures to address the problem.
The government, he said, is giving utmost importance on building up a market management based on proper information.
Hossain Zillur said the government is working to ensure stability in the market, enhance efficiency in the marketing process and keep the poor consumers' foods cheap by giving subsidy.
To achieve the goal, he said, the government is in a continuous process to have interactions with different stakeholders.
He said that getting information on products in proper time and making a forecast on that basis could help a lot in keeping the market stable.
"If we can harmonise demand and supply, and can make early forecast, the prices will come down and instability will go."
The commerce adviser said one of the main jobs of the government is to do something for the poor so that they can get foods at cheaper price.
He said the traders and business leaders have agreed to work together with the government and exchange information on the local production and international market situation.
"If it works, this will have positive impact on the market and prices will come down," said the economist-turned-adviser to the caretaker government.
He sought cooperation from the journalists in the government's efforts and said the commerce ministry will regularly arrange briefing session on the market situation.