The government has finally taken steps to import quickly six essential items including edible oil in large volume through Trading Corporation of Bangladesh (TCB) by easing some procurement conditions.
The Cabinet Committee on Economic Affairs at a meeting yesterday gave permission to the TCB and relaxed 13 conditions of Public Procurement Regulation (PPR) 2008 for importing the commodities.
Talking to the reporters after the meeting, Finance Minister AMA Muhith said pulse, edible oil, sugar, gram, onion and powdered milk will be imported quickly, as "we want to be ready for Ramadan".
Commerce Minister Faruk Khan said the daily commodities would be imported through TCB to keep the prices stable.
"The private sector will also continue importing the items and procedures will be simplified for them so they can import easily," he said.
According to a summary report of the Cabinet Committee, prices of these six items become unstable frequently because of a price hike on the international market, supply-demand mismatch and businessmen's trend to make excess profit.
Market intervention by strengthening the supply side is needed to face such a situation, the report said.
The report also quoted the prime minister's order during a recent meeting with the industries ministry to import some essentials through TCB to keep the prices tolerable.
In line with the relaxed rules, the TCB can deposit 2 percent of the contract value for importing goods, which was 10 percent earlier.
Time frame for bid submission in domestic procurement has been reduced by seven days to 14 days for Tk 30 lakh to Tk 5 crore tender and 21 days for more than Tk 5 crore tender.
Several other conditions were also relaxed or waived for TCB so it can import and purchase daily commodities quickly and in large volume.
One of the government's major pledges was to bring down the essentials' prices. Although the prices were coming down at the beginning of this year, the prices started to soar again recently.
According to TCB statistics, prices of soybean oil rose by 1.29 percent in the last one month, while palm oil increased by 19.49 percent, pulses by 4-10 percent, onion by 2-9 percent, sugar by 1.3 percent, and gram went up by 5 percent.
Soybean oil prices were between Tk 78 and Tk 82 per kg yesterday, while palm oil was selling at Tk 69-Tk 72. Lentil price was Tk 88-Tk 105 per kg, while moong (moog dal) was at Tk 86-Tk 98.
Onion was selling at Tk 15-Tk 26 per kg, while sugar price was between Tk 38 and Tk 40 and gram at Tk 40-Tk 44.
Earlier the commerce ministry held several meetings with businessmen concerned to push them for cutting the essentials' prices and fixed the prices. The businessmen also committed not to increase the prices.
But any decisions and commitments were not reflected in the market and the prices did not come down.
Commerce ministry officials said when the essentials' prices came down on the international market, the price cut was not reflected in the local market. But, when the prices go up, the local businessmen increase the prices immediately.
The officials feared the businessmen may increase the prices further ahead of Ramadan.
The government is going to intervene in the market through TCB to tackle the situation, they said.
However, the commerce minister on his first day at office said the government will not intervene in the market through TCB. |
Source : |
|
| |
|
