The New Nation - Internet Edition

Staff Reporter

The Bangladesh Government would soon undertake new strategies along with the ongoing ones as part of its efforts to bring down prices of essentials, Commerce Adviser Dr Hossain Zillur Rahman said yesterday.

Some specific decisions to this effect were taken at a meeting at the Chief Adviser's Office, with Dr Fakhruddin Ahmed in the chair. "The meeting has taken specific decisions, but I'll not tell you now," the Commerce Adviser told reporters coming back to his Commerce Ministry office.

"We'll finalise and disclose the strategies after having follow-up meetings with the government agencies concerned and other stakeholders," said.

Dr Zillur informed that the Chief Adviser expressed deep concern about the price situation and discussed the possible measures before leaving the country for Senegal to attend the OIC Summit.

Finance and Planning Adviser Dr Mirza Azizul Islam, NBR Chairman Muhammed Abdul Mazid and representatives from Bangladesh Bank and edible oil refiners were present at the meeting.

The Commerce Adviser said the Commerce Ministry has already served letters to seven government agencies seeking necessary information about the factors affecting the market.

He said the meeting considered strengthening the market monitoring system to see whether there is any gap in the ongoing system, whether there is any necessity to bring in new intervention mechanism or whether the Government could forecast the market situation.

Dr Zillur said the meeting also discussed that the traders should play responsible role in utilizing the policy-related issues rationally to ensure that the traders do not make high profits to destabilise the market.

Replying to a question, he said the country has long been pursuing market economy, but now the Government is convinced that the state has something to do.

"The state should have some effective capacity," the Commerce Adviser said, adding: "there is no need of unwanted intervention into the market but the state has a role to develop an effective and competitive market system."

Asked whether the Government would again go for reactivating the state-trading agency TCB and further strengthening the market intervention by BDR, he said the Government was considering all possible options along with strengthening the existing ones.

"The government will do whatever is necessary to quickly improve the market system."