Staff Reporter :
The government decision on reducing Tk10 per liter edible oil will be effective from Today (1 March).
The decision was taken in a task force committee meeting on commodity price review on February 20.
Later, State Minister for Commerce Ahsanul Islam Titu told media.
With the new rate, a one-litre bottle of soybean oil will cost Tk163, down by Tk10 from the current price of Tk173 while five liters bottle will be sold at Tk800. Meanwhile, loose soybean oil will cost Tk149 per litre after price adjustment.
State Minister for Commerce Ahsanul Islam Titu said on February 20 meeting the delegation from TK Group, S Alam Group, Bashundhara Group were present.
I told them the Prime Minister expects that the large industrial and business community have corporate social responsibility.
I requested them to reduce price of edible oil considering the burden of lower income group people which was not logical but I did it illogically, Titu continued.
Commerce Minister said they agreed with our decision. Interestingly, the proposal to reduce soybean oil price came from them first.
Ahsanul Islam Titu said the decision will be executed from today (1 March) and the tariff will be effective till 15 March. Then we will fix the soybean oil price in month basis along with mill owners as what we did about fuel price.
Besides, Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has informed about the reduction of edible oil by a press release saying that it is being effective from 1 March.
