Commerce Minister Khandakar Abdul Muktadir on Tuesday warned that the government will not tolerate any attempt to create artificial crisis or manipulate market, saying no group or individual will be allowed to hold the market hostage.
âThis is a country of 180 million people. No group or individual can take the market hostage,â he said while speaking to reporters after a meeting of the task force on commodity prices and market situation at the Ministry of Commerce.
Fuel price hike âmodestâ, unlikely to accelerate inflation: Muktadir
The minister said the current global situation, particularly the conflict in the Middle East, has created pressure on fuel and supply chains. âThe government is closely monitoring the situation and the import flow remains stable.â
Responding to a question about soybean oil supply, he said although the supply of bottled oil is somewhat limited, loose oil is available in sufficient quantity. âThe government is also monitoring any attempt to charge prices beyond the fixed rate and will take necessary action.â
On inflation, Muktadir said any unreasonable price hike or creation of artificial shortages is unacceptable.
Addressing traders, he said the market cannot be influenced through speculation and prices must be set based on the actual impact of increased fuel costs.
The minister urged businesspeople and other stakeholders to have confidence in the government, adding that efforts are underway to introduce a stable pricing mechanism to ensure a more balanced market in the future.