Commerce Minister Tipu Munshi has said the government is forming a taskforce to monitor essentials' prices, and to conduct a nationwide drive against illegal hoarding.

The minister informed reporters of the development after an inter-ministerial meeting held at the Secretariat on Sunday afternoon to set a work plan for reining in the prices of essential items, despite record food stocks in the government's warehouses.

Moreover, the Commerce Minister said that the number of TCB trucks selling essential goods in Dhaka has been increased to 150, from 50. Overall across the country, the number of such trucks will be increased to 1000 from 500.

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Home Minister Asaduzzaman Khan Kamal presided over the inter-ministerial meeting.

After the two-hour meeting, Munshi told reporters that the impact of the Ukraine-Russia war had been felt in Bangladesh as well.

However, he also said many dishonest traders are taking advantage of this. Strict instructions have been given to the law enforcement agencies in the meeting to monitor markets so that prices do not get out of hand.

Also read: Ministers 'joking' with people about price hike: BNP

Top officials of the administration including Commerce Minister Tipu Munshi, Agriculture Minister Dr. Mohammad Abdur Razzaqu and Police Chief Benazir Ahmed were present at the meeting.

Recently, the prices of soybean oil, onion and other essential commodities have been rising uncontrollably.

Also read: Slashing VAT, taxes on essential commodities during Ramadan under consideration: Home Minister

There has been a huge reaction among the common people, who are not at all pleased to be confronted with such runaway inflation, before they could even recover fully from the pandemic's hit . People from all walks of life are expressing their anger. Various protest programs are also going on in the political arena over the issue.