The government has decided to reduced the price of edible oil, Senior Secretary of Ministry of Commerce Tapan Kanti Ghosh said today.
Abdul Wahab, a security guard at an ATM booth of a private bank in the capital, works 16 hours a day.
Those who artificially raised prices did the country a great disservice
Oil rose slightly on Tuesday, paring earlier losses and after soaring by more than $5 barrel in the previous session, amid concerns about tight supply.
Police in a raid seized 92,616 litres of edible oil illegally stored at four warehouses and a truck at Baneshwar Bazar of Rajshahi's Puthia upazila today (May 10, 2022).
Believing the businessmen was a mistake as they have hoarded and hiked the edible oil prices abnormally in the local markets after the Eid-ul-Fitr, Commerce Minister Tipu Munshi said today.
The prices of rice, edible oil, beef, sugar, egg and onion have risen more in Bangladesh than that of the international markets, affecting the poor people who are already suffering from erosion of purchasing capacity for pandemic caused income losses, said the Centre for Policy Dialogue (CPD) today.
The National Board of Revenue (NBR) yesterday cut value added tax (VAT) at imports of edible oil to 5 per cent from 15 per cent in line with the government’s decision to reduce the indirect tax to give some relief to consumers.