The New Nation - Internet Edition

Staff Reporter

The government will increase monitoring of prices of essential commodities by activating market intelligence, Commerce Adviser Dr Hossain Zillur Rahman said yesterday.

Emerging from a meeting with civil society representatives and businessmen the Adviser apparently expressed his satisfaction over prices of essentials.

"Per kilogram of rice is selling at Tk 70 in the international market. We are comparatively at much better position," Zillur said.

The Adviser said price hike of commodities in the international market became factor for price spiral hike in the local market.

Price of essentials will come down gradually, the Adviser said quoting the prediction of International Monitoring Fund (IMF).

"If the price of essentials decrease in the international market, it will become factor for local market. Local businessmen will be bound to reduce their price," he said.

Zillur said the food stock situation is at strong position and steps have been taken to import rice from abroad.

He said farmers have produced 17 million tonnes of Boro paddy this year. Similar priority has been given to produce Aman paddy, he added.

"We imposed ban on rice export and we changed export policy to make a good stock of rice," Zillur said.