Govt moves to keep Ramadan prices in check

Commerce Minister Khandakar Abdul Muktadir said the government was working to ensure an uninterrupted supply of essential commodities at reasonable prices during the upcoming holy month of Ramadan.
He made the remarks on Thursday at a meeting with traders and importers on the supply of essential commodities and market stability, organised by the Chittagong Chamber of Commerce and Industry (CCCI) at the World Trade Center in Chattogram, according to a Commerce Ministry press release.
The minister said the government had taken initiatives to rationalise duties on fruits and dates, explore lower interest rates on bank loans for importing consumer goods, and remove obstacles to the transportation and clearance of imported goods. “The government will continue regular market monitoring to prevent artificial shortages and unreasonable price hikes,” he said.
Muktadir said sufficient supplies of essential commodities, including edible oil and sugar, were already in the pipeline, while the opening of letters of credit (LCs) for imports remained normal.
“Work is underway in coordination with the relevant agencies to keep the supply chain uninterrupted during Ramadan and throughout the year,” he said.
The minister stressed the need to reduce import costs to keep essential commodity prices affordable.
He said the government was working to reduce the effective duty on fruits, currently at 121%, to bring prices within the reach of ordinary consumers.
The National Board of Revenue (NBR) had already received a letter seeking a reduction in duties on dates, he added.
Responding to a question about high fruit prices, Muktadir said it was unacceptable that oranges were selling for Tk400–500 per kilogram even after import duties had been paid.
He said prices had fallen considerably following market inspections and enforcement drives by the Directorate of National Consumers' Right Protection and local administration.
“No attempt to create an artificial shortage or make excessive profits in the name of Ramadan or any other occasion will be tolerated,” he warned, adding that market monitoring would continue throughout the year.
On reducing supply-chain costs, the minister said the government had taken steps to improve efficiency at Chattogram Port and address transportation bottlenecks to bring down the country's logistics costs, currently estimated at 16%.
He emphasised simplifying import procedures, cargo clearance and transportation to improve supply-chain efficiency.
Muktadir also said the government was moving to fully digitise the trade licence system, allowing applicants to pay fees online and download licences from anywhere.
CCCI President Mohammad Amirul Haque, who chaired the meeting, said traders were prepared to maintain adequate supplies and stable market conditions during Ramadan.
“There will be no artificial shortage of major consumer goods, including pulses, chickpeas, wheat, edible oil and sugar,” he assured.
He also pledged that traders would conduct business transparently while protecting consumer interests.
Former CCCI president Amir Humayun Mahmood Chowdhury urged the government to remove unnecessary restrictions on imports and exports and facilitate international trade through improved import policies and customs procedures.
Khatunganj Trade and Industries Association President Abdus Salam said traders were committed to ensuring adequate supplies of rice, pulses, chickpeas, wheat, soybean oil, palm oil and sugar, as they had done during the previous Ramadan.