Upcoming Ramadan to be more comfortable than last year

Business Report:

Commerce Adviser SK Bashir Uddin reassured the public on Sunday that prices of essential commodities will not increase during the upcoming month of Ramadan.

Commerce Adviser said in Ramadan it is expected to be more comfortable for consumers than last year, as prices of some essential commodities are likely to decrease due to higher imports and stable supply.

“The supply chain for consumer goods is normal. Business representatives have assured us that price levels will remain stable, mirroring the conditions of last year or, in some cases, showing a downward trend,” he informed.

Speaking to journalists after the 10th meeting of the Task Force Committee on reviewing prices and market conditions of essential food items ahead of Ramadan, held at the commerce ministry conference room at the Secretariat in the afternoon, he said imports of essential commodities have increased by 40 percent compared to last year.

Bashir said traders at the meeting assured the government that the supply of essential goods would remain normal during Ramadan.

“Prices will remain under control. There will be no price hikes; rather, prices of some items may come down further,” he further said.

Referring again to the 40 percent increase in imports, the adviser said prices of daily essentials during Ramadan would remain within people’s purchasing capacity. To foster competition, he said, the government has diversified the market by integrating approximately 500,000 tons of locally produced Rice Bran Oil. Responding to a question about his earlier comment in Netrokona that rice prices had increased due to the construction of the Padma Bridge, the adviser said the government has had to bear significant financial liabilities due to what he described as “unnecessary mega projects” such as the Karnaphuli Tunnel, Payra Port and the Padma Bridge.