The New Nation - Internet Edition

Staff Reporter

The caretaker government will strengthen its monitoring on nine essential items, including five core food products, to curb price-hike.

Of the items, five core food products are rice, wheat, lentil, edible oil and powdered milk, while the rest four are salt, sugar, potato and onion.

Commerce Adviser Dr. Hossain Zillur Rahman said this yesterday after a meeting at the Commerce Ministry with traders, business leaders, economists and chiefs of different public institutions and organisations like NBR, Bangladesh Bank, Agriculture Extension Department, Bangladesh Rifles and Bangladesh Bureau of Statistics.

FBCCI administrator and former adviser to caretaker government Syed Manzur Elahi was present at the briefing.

"These nine items are of a core food basket. We have decided to keep special focus on these items and monitor the market on a regular basis," the Commerce Adviser said.

He mentioned that the meeting was convened as part of the government's ongoing efforts to identify the reasons behind the instability in the market and take necessary measures to address the problem.

The government, he said, is giving utmost importance on keeping the prices of essential under control through an informative-based market management system.

"The government can take quick steps, including import if knows about the scarcity of essential products from earlier in the country," he said.

Dr Hossain Zillur said the government is working to achieve three goals--ensuring stability in the market, enhancing efficiency in the marketing process and keeping the poor-consumers foods cheap by giving subsidy.

To achieve the goal, he said, the government is in a continuous process to have interactions with different stakeholders.

He said that getting information on products in proper time and making a forecast on that basis could help a lot in keeping the market stable.

"If we can harmonize between demand and supply, and can make early forecast, the prices will come down and instability will go."

The Commerce Adviser said one of the main jobs of the government is to do something for the poor so that they can get foods at cheaper price.

He said the traders and business leaders have agreed to work together with the government and exchange information on the local production and international market situation.

"If it works, this will have positive impact on the market and prices will come down," said the economist-turned-Adviser of the caretaker government.

He sought cooperation from the journalists in the government's efforts and said the Commerce Ministry will regularly arrange briefing session on the market situation.