Prime Minister Sheikh Hasina on Monday instructed the authorities concern to reduce the import duties on edible oil, sugar, dates and rice in a bid to keep the commodity prices at an affordable level during the month of Ramadan.
The instruction was given in the regular weekly meeting of the Cabinet held on Monday with Prime Minister Sheikh Hasina in the chair at her office in Tejgaon.
After the meeting, Cabinet Secretary M Mahbub Hossain briefed reporters at Secretariats Cabinet conference room.
The Cabinet Secretary, however, informed that the National Board of Revenue (NBR) under the Finance Ministry will decide on how much the duties should be reduced consulting with the ministries and divisions concern.
Mahbub Hossain said the PM gave the instructions after listening to the ministers about the action taken to control commodity prices.
She also asked all the authorities concerned to work in a coordinated way and monitor the market to prevent supply shortages of the goods against the demand in the market. So that, the price of commodities could be taken under the control of the people and they don need to suffer during Ramadan.
"The PM had given importance to control the commodity price after the national election in the first meeting of the new Cabinet. The ministers and ministries were asked to work in a coordinated way. The PM inquired about the progress in the second meeting of the new Cabinet as the Cabinet meeting was not held in last week. The ministers have explained their activities and experiences in the meeting," he added.
After hearing the ministers, the PM asked the authorities to reduce the taxes of such products which are much needed in the month of Ramadan. The NBR has been asked to work on the matter as taken necessary steps as soon as possible. The NBR will take measures as the mass people are not pressurized for price hike or higher price, he added.
The minister informed the PM that the number of opening LCs is much higher than the previous years. The authorities have been working in this regards. As a result, there will be no crisis during the Ramadan as the stock of the products is adequate in the country.
Expressing her satisfaction over the initiatives taken by the ministers and ministries, the Prime Minister said, "The field level activities especially the anti-hoarding drives must be continued. Despite having adequate stock, LCs would be opened as much as needed, so that no one can manipulate the market.
The Cabinet Secretary said that this year, LCs for importing some 44,734 tonnes of dates were already opened while 37,107 tonnes were imported in last year. LCs for importing some 1,25,374 tonnes of edible soybean were already opened this year while the LCs were opened for 97,287 tonnes in last year.
LCs for importing some 3,87,138 tonnes of sugar has already been opened this year while the LCs were opened for 3,38,870 tonnes in last year.
In response to a query, the Cabinet Secretary said that the ministers concern have engaged them seriously in the field after getting instructions of the PM in the first meeting of the Cabinet. As impact of the initiative, the decreasing trend of price of various products including rice is seen in the market.
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