The New Nation - Internet Edition

Talha Bin Habib

The two investigation committees, one headed by a government official and other by the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) to investigate into the causes of sugar price spiral allegedly made by unscrupulous traders, are yet to submit their reports.

Earlier the timetable for submission of the investigation reports was fixed on October 30. Later, the time was extended up to November 7 following the demand by the committees. The belated formation of the committees and its subsequent failures in submission of the reports on time were due to alleged influence by the 'sugar syndicate', sources said. The volatility of sugar market is yet to be over. The price of sugar still remains high despite withdrawal of tariffs and duties by the government and sufficient stock of it in the kitchen markets.

The high price of sugar is heightening the woes of the people in limited income bracket.

A high official of the Commerce Ministry, preferring anonymity, told the New Nation that the investigation process was near completing and they would submit their reports within the stipulated time on November 7.

Abul Kashem Ahmed, convener of the FBCCI-led investigation team told the New Nation yesterday that their investigation was going on. He hoped that within the next couple of days the apex trade body of the country would be able to submit their investigation reports.

Sugar traders at a meeting with the government recently decided that the price of sugar should not exceed Tk 50 per kg. The mill gate rate of sugar will be Tk 45 per kg while wholesale at Tk 46 and in the retail level between Tk 48 and Tk 49. But in practice the decision is still being widely violated, causing immense sufferings to the consumers.