Looting leaves all institutions dysfunctional: Commerce advisor
Staff Reporter :
Commerce Adviser Sheikh Bashiruddin has alleged that widespread corruption during the last 15 years under the Awami League government resulted in losses amounting to Tk 28 lakh crore, equivalent to 1.5 years of the country’s total earnings.
He further criticised the state of public institutions, claiming they have become largely dysfunctional.
Speaking as the chief guest at the “ERF-Pran Media Award 2024” ceremony on Tuesday, the adviser praised the government’s initiative to distribute subsidised food to 10 million families via TCB cards.
However, he highlighted irregularities in card distribution and dealer selection under the previous administration.
On the recent price hike of soybean oil, Sheikh Bashiruddin defended the move, saying it was necessary to prevent a potential market crisis and shortages.
He acknowledged the hardships faced by consumers and suggested that the government is exploring ways to offset the increase by reducing prices of other essential goods.
Expressing optimism about the market’s stability during Ramadan, he said that key items such as dates, chickpeas, and lentils would be available in sufficient quantities.
The adviser also announced plans to reform the Trading Corporation of Bangladesh (TCB) within six weeks to address inefficiencies.
He revealed that TCB operates with a budget of Tk 11,500 crore, including over Tk 4,500 crore in subsidies, managed by only 142 staff members-a situation he described as “absurd.”
He added that of the 10 million family cards issued, around 5.7 million had been finalised, while the remainder were cancelled.
Ahsan Khan Chowdhury, chairman and CEO of Pran-RFL Group, attended the event as the guest of honour, alongside journalists and Economic Reporters’ Forum (ERF) members, with ERF President Refayet Ullah Mirdha presiding.
Meanwhile, Shafiqul Alam, press secretary to the chief adviser, addressed the increase in soybean oil prices at a briefing at the Foreign Service Academy.
He stated that the adjustment reflected market trends and assured that the issue was being closely monitored to protect consumer interests.
The government had recently announced an increase of Tk 8 per litre in the price of both bottled and unpackaged soybean oil. Bottled oil now costs Tk 175 per litre, while unpackaged oil is priced at Tk 157 per litre.
Sheikh Bashiruddin emphasised that the price hike was necessary but added that steps are being taken to minimise inconvenience for consumers.