United News of Bangladesh

Commerce Minister Khandakar Abdul Muktadir on Sunday said the government has taken various measures to control the market of essential commodities and ensure their supply at reasonable prices. Replying to a starred tabled question from ruling party lawmaker Sarwar Jamal Nizam (Chattogram-13) in the House, the minister said the Ministry of Commerce is actively working to maintain stability in the market and ensure uninterrupted supply of essential goods. He said the government has taken an initiative to update and amend The Control of Essential Commodities Act, 1956 to make it more time-befitting and effective for market control. The minister said the prices of edible oil are currently fixed by the ministry under the existing law and adjusted in line with international market prices and the price was revised three times in the current calendar year. He said the prices of other essential commodities remained mostly stable in the past calendar year while onion prices increased temporarily during mid-year and in December–January but returned to normalcy after import was opened twice through joint decisions of the agriculture and commerce ministries. The minister said a research initiative has been taken by assigning the Bangladesh Institute of Development Studies (BIDS) to review market control models of India, Indonesia and other countries and develop an effective model suitable for Bangladesh. He said the National Board of Revenue (NBR) reduced import duties on sugar, edible oil and dates this year following the Commerce Ministry’s initiative, which helped keep prices stable. The minister told parliament that regular market monitoring drives are being conducted by the Directorate of National Consumer Rights Protection, with daily market inspections in Dhaka and regular operations at district and upazila levels. The number of drives increased during Ramadan and other major festivals. He said meetings were held with producers, importers, wholesalers and retailers to monitor supply and prices while the minister and secretary conducted surprise market inspections, including visits to Chattogram’s Khatunganj wholesale market. The minister added that meetings were also held with LPG importers and distributors to maintain supply and price stability, while banking-related problems of importers and producers were resolved to ensure uninterrupted supply of essential goods. He said special task forces at district level are conducting regular inspections of warehouses, cold storages, supply chains and wholesale markets to monitor prices and ensure minimum price differences between producers, wholesalers and consumers. The Commerce Minister said regular meetings are being held with business leaders and chamber representatives to review and control prices of essential commodities. He also informed that around one crore low-income people are receiving subsidised rice, soybean oil, sugar and lentils through TCB card distribution programme, helping stabilise the market and ensure affordable food supply for the poor. The minister said a pilot agricultural market has been launched in Sylhet by collecting products directly from farmers and it will be expanded nationwide if successful.  

Commerce Minister Khandakar Abdul Muktadir on Sunday underscored the urgency of strengthening debt management and expanding the tax net describing them as the top priorities in the country's current economic landscape. “The government is committed to meeting public expectations and is taking effective measures to steer the country out of the ongoing challenges,” the minister said while addressing the closing session of a seminar titled ‘National Multistakeholder Consultation on Bangladesh Graduation Readiness Assessment’ held at the NEC Conference Room of the Planning Commission. Acknowledging the difficult economic situation Bangladesh is navigating, Muktadir stressed that well-planned initiatives are indispensable to restoring discipline and stability to the economy. He said several large projects undertaken in the past without adequate planning had added significantly to the country's debt burden. “Questions surrounding project costs and implementation processes in a number of cases have further compounded economic pressure.” “Proper management of existing loans and greater caution in undertaking new projects are essential,” he said adding that realistic and productive project selection is key to sustaining development momentum. On taxation, the minister said Bangladesh's tax-to-GDP ratio remains unsatisfactory and must be improved but through base expansion rather than rate hikes. “A significant portion of the economy still remains outside the tax net. Instead of raising tax rates, we must broaden the tax base to enhance revenue collection.” Muktadir also stressed the importance of mobilising greater domestic resources to bolster debt repayment capacity while ensuring sustainable development progress.  

Commerce Minister Khandakar Abdul Muktadir on Monday said there will be no increase in edible oil prices and there is no supply shortage in the market, urging consumers not to engage in panic buying. “Panic buying could create temporary supply pressure in some areas, unnecessarily complicating the situation,” he said while talking to reporters after a meeting with importers and refinery owners to review the overall supply of edible oil at Secretariat. He said the meeting was held to review the situation following media reports over the past few days about an alleged shortage of edible oil in some areas and incidents of selling the product at Tk 2 higher per litre. He also urged the consumers to refrain from buying excessively in panic. Since products are available in the market, unnecessary competition allows unscrupulous traders to take advantage, he said. Mentioning that there is adequate stock of edible oil in the market, the minister said, “We held the meeting to review the situation. We found that there is sufficient supply in the market. In some places, panic buying by consumers may temporarily exhaust stocks in a few shops.” Sharing his personal observation, Muktadir said in a market in the capital, large roadside shops had sufficient stock at fixed prices while a small shop inside the market was attempting to sell limited stock at two to three taka above the official rate per litre. Responding to a question from journalists, he said there is no shortage of edible oil, fuel oil, or gas, urging media and public not to associate these products with “shortage,” which could create confusion. The minister added that market monitoring and supervision will be strengthened and called on everyone to refrain from spreading rumours or panic. The National Consumer Rights Protection Directorate under the Commerce Ministry is already monitoring the market while district administrations will continue their regular drives, he said.  National Board of Revenue Chairman Md. Abdur Rahman Khan and Commerce Ministry Secretary Mahbubur Rahman attended the meeting.    

Commerce Minister Khandakar Abdul Muktadir on Wednesday said the recently signed trade agreement between Bangladesh and the United States is not irreversible and there remains scope for amendment, addition or deletion of provisions if necessary. He said the deal contains elements that could help further strengthen bilateral trade ties in the future and should not be viewed as “wholesale negative” or “wholesale positive.” The minister made the remarks while talking to reporters after a meeting with US Assistant Secretary of State for South and Central Asian Affairs Paul Kapur at the Commerce Ministry. He said the agreement was signed with the aim of expanding economic, trade and investment relations between the two countries. Referring to bilateral trade, the commerce minister said trade volume between Bangladesh and the United States exceeds $8.5 billion while Bangladesh imports goods worth nearly $2.75 billion from the US. As a single country, the US remains one of Bangladesh’s largest trading partners, he said. He said discussions also touched investment, digital infrastructure development and future economic cooperation, alongside trade. Responding to a question about whether the February 9 trade deal was discussed in detail at the meeting, he said it did not come up specifically. “The agreement was signed on the 9th. There was no separate discussion on it today,” he said. Large portion of workforce remains informal; Commerce Minister urges formalization Asked whether issues mentioned in a congratulatory letter from US President Donald Trump — including trade and defence-related matters — were discussed, the adviser said the trade deal was not a topic of discussion at the meeting and military issues do not fall under the Commerce Ministry’s jurisdiction. On allegations that Bangladesh’s interests were not adequately protected in the deal, he said any agreement involves two parties and typically contains provisions favourable to both sides. Responding to another question he said “If you find any problematic provision, you can raise it with us. No agreement is the end of life. Every agreement contains its own clauses for review and self-correction. If we find that any provision requires amendment or modification, there is always scope for further negotiation,” he said. He also urged all not to be overly concerned.  

Commerce, Industries, Textiles and Jute Minister Khondkar Abdul Muktadir on Tuesday said a significant part of the country’s workforce still falls within the informal sector. He emphasized that bringing all sectors gradually under a formal structure is essential for achieving sustainable and balanced national growth. The minister made the remarks during separate meetings of the Tripartite Consultative Council (TCC) and the RMG TCC at the CIRDAP International Centre in Dhaka. Factory workers’ arrears must be paid before Eid: Commerce Minister Highlighting government initiatives for low-income citizens, Muktadir said preparations for the ‘Family Card’ programme, outlined in the election manifesto, are progressing rapidly. Under the programme, each family will receive a card through which support worth BDT 2,500 per month will be provided. While not a direct ration system, the scheme is expected to largely meet ration-related needs. The minister stressed the importance of regular dialogue to address industrial and labor issues and instructed the labor secretary to hold TCC meetings consistently. He said, “Debates or heated exchanges during discussions are part of the democratic process. There is nothing to fear; sustainable solutions can be reached through dialogue.” Decision on US tariffs, trade deal after review: Commerce Minister Muktadir also warned that unless the labor sector is formalized, ensuring compliance with international standards and protecting workers’ rights would be difficult. The meetings, chaired by Labor and Employment and Expatriates’ Welfare and Overseas Employment Minister Ariful Haque Chowdhury, also discussed timely payment of wages and allowances and granting holidays to factory workers ahead of the upcoming Eid-ul-Fitr. The minister urged effective measures to prevent labor unrest in the RMG sector. State Minister for Labor and Expatriates’ Welfare Md Nurul Haque and Prime Minister’s Adviser Mahdi Amin attended as special guests. Other participants included Fazle Hasan Shamim of the Bangladesh Employers’ Federation and TCC Vice President Anwar Hossain. The sessions were conducted by Labor Secretary Md. Abdur Rahman Torfadar and attended by representatives of both employers and workers.

Bangladesh and India have agreed to work towards expanding bilateral trade, Commerce Minister Khandakar Abdul Muktadir said on Monday. “Trade between the two countries has faced various obstacles due to some mutual decisions. Both sides have drawn each other’s attention to reviewing decisions such as the closure of several Indian land ports, border haats and the cancellation of trans-shipment facilities,” he said. The commerce adviser made the remarks while talking to reporters after a meeting with Indian High Commissioner Pranay Verma at his office at the Bangladesh Secretariat. The minister said the high commissioner primarily came as part of a courtesy call to welcome the new government but discussions also covered various aspects of increasing trade between the two countries. Talks included the reopening of some closed land ports, he added. Muktadir said Bangladesh also drew India’s attention to existing restrictions on the export of some products while the Indian side mentioned restarting closed border haats. “There are, in fact, some mutual barriers created by both countries and it is true that these have affected trade relations,” he said the high commissioner would discuss the issues at higher levels in his country while Bangladesh would also raise the matters in the cabinet. Replying to a question, Muktadir said there was no discussion on the future of Indian-funded projects. Asked about the possibility of fuel and food shortages if the Strait of Hormuz is closed due to the Iran war, the minister said shipping costs would rise in that case. “There is no need for immediate concern as the situation could be resolved within a couple of days. If not, the government would take alternative measures and there is currently no shortage of goods in the country, he said.

Commerce Minister Khandaker Abdul Muktadir on Saturday said all outstanding wages and salaries of factory workers must be cleared before the upcoming Eid. He made the remarks while talking to reporters after a view-exchange meeting with administrative officials at Sylhet Circuit House this afternoon. The minister said the government has already sent a letter to the European Union as part of its preparations for free trade agreements to address post-LDC graduation challenges. Decision on US tariffs, trade deal after review: Commerce Minister He added that initiatives will also be taken in phases to sign free trade agreements with Australia, Canada and the United Kingdom. Meanwhile, Expatriates’ Welfare, Labour and Employment adviser Ariful Haque Chowdhury said the government is working to reopen several closed overseas labour markets and positive outcomes are expected within the next month. He also said necessary measures are being taken to ensure timely delivery of passports and police clearance certificates for Bangladeshis intending to go to Spain. Stocks adequate to keep Ramadan market stable: Commerce Minister Water Resources Minister Shaheed Uddin Chowdhury Anne said work is underway on river and canal dredging as well as construction of haor protection embankments ahead of monsoon season. Referring to the government’s zero-tolerance stance against corruption, he said no irregularities would be tolerated in the ongoing works. After the meeting, the minister visited erosion-prone parts of Surma River and Chengar River.

Commerce Minister Khandaker Abdul Muktadir on Wednesday said the government will take a decision on the United States’ reciprocal tariffs and the bilateral trade agreement after reviewing the evolving situation. Talking to reporters after a meeting with business leaders at the Commerce Ministry, the minister said the issue remains under consideration as developments in the US are still unfolding. The remarks came after the Supreme Court of the United States declared the retaliatory tariffs imposed by President Donald Trump illegal, prompting him to announce new global tariffs. Stocks adequate to keep Ramadan market stable: Commerce Minister Muktadir said the US initially declared a 10 percent tariff for all countries, later raising it to 15 percent. However, Bangladesh has yet to receive any official written communication from Washington. “We are hearing announcements through different channels, but nothing has come officially. Under US law, the relevant legal provisions require congressional approval within 150 days. So the scenario is still evolving.” Referring to the trade agreement signed earlier between Bangladesh and the US during the interim government’s tenure, the minister said it is too early to make any definitive comment. “We are examining both the pros and cons of the agreement. It is natural for any deal to have two sides. After a thorough review, we will determine the next course of action,” he said. Bangladesh to seek delay in LDC graduation, says Commerce Minister Responding to a question on whether the agreement was signed hastily or kept confidential, Muktadir said certain non-disclosure agreements were in place during negotiations, describing the deal as a sensitive issue given the importance of the US as a trading partner. “In the current evolving situation, it would not be appropriate to make any unwarranted comments.” About discussions with business leaders, the minister said representatives from various sectors were invited to share their concerns regarding tariffs and the trade agreement. “We discussed sector-specific challenges and other related matters.” Regarding the price situation during Ramadan, the minister said commodities monitored by the Commerce Ministry remain stable in the market. He pointed out that the prices of some vegetables temporarily increased due to bulk buying at the beginning of Ramadan. “At the start of Ramadan, many people purchase a month’s supply at once, and some traders take advantage of the situation. For example, lemons that were selling at Tk 40–50 rose to Tk 120, but later returned to previous levels.” Replying to a question on extortion, the minister said previous governments had made promises to curb the practice without success. “Wait and see. We will deliver through action.” State Minister for Commerce Md Shariful Alam and Commerce Secretary Mahbubur Rahman were, among others, present at the meeting.

Commerce Minister Khandaker Abdul Muktadir on Monday said commodity prices and supply in the capital’s markets remain satisfactory during Ramadan, warning that action will be taken if any irregularities are found. The minister made the remarks after a surprise visit to Mohammadpur Town Hall Kitchen Market in the city, where he inspected shops and spoke to traders and consumers. “The market situation during Ramadan is normal. If any deviation occurs, we will take action,” he told reporters. Stocks adequate to keep Ramadan market stable: Commerce Minister Mentioning that monitoring activities are ongoing, Muktadir said 10 teams from the National Consumer Rights Protection Directorate are conducting daily drives, alongside three additional teams from the ministry. “If anyone tries to create chaos in the market bypassing these monitoring teams, inform us and we will take steps.” Admitting that the prices of lemons and chickpeas had increased at the beginning of Ramadan, the minister said lemons that were selling at Tk 60 per dozen a day before Ramadan had surged to Tk 120, causing public dissatisfaction. “However, during today’s visit, we found that lemon prices have come down to Tk 50-60 per dozen depending on the variety.” Muktadir said controlling the market in a city of around 20 million people like Dhaka requires coordinated efforts and assured that the Commerce Ministry is closely monitoring the situation to prevent a handful of traders from manipulating the market. He said import-based commodities remain stable and there is no shortage in products sold through the Trading Corporation of Bangladesh (TCB). “In fact, the prices of many items are Tk 10-15 lower this Ramadan compared to last year.” Bangladesh to seek delay in LDC graduation, says Commerce Minister Responding to a question about recent obstruction and alleged threats against a magistrate during a consumer rights drive at Moulvibazar in the capital, the minister said a case has already been filed against the trader concerned. “The law will take its own course. The purpose of market drives is not to harass traders but to send a message that they are under government surveillance,” he said. State Minister for Commerce Md Shariful Alam, Commerce Secretary Mahbubur Rahman, Director General of the National Consumer Rights Protection Directorate Farooq Ahmed and Additional Secretary of the ministry IIT Shibir Bicitro Barua were present during the visit. Later, the minister also inspected the capital’s largest wholesale kitchen market at Karwan Bazar and exchanged views with traders and buyers about the overall market situation.

Commerce Minister Tipu Munshi on Thursday said one crore family cards of  state-run Trading Corporation of Bangladesh (TCB) are being converted into smart cards and those will be distributed among the beneficiaries within two to three months. As a result of conversion, transparency would be ensured in distribution  of essentials at subsidized rate and there will be no more inconsistencies, the minister was speaking as the chief guest at the opening ceremony of free distribution of TCB smart card and sale of TCB products including rice to card holders at PWD Colony Auditorium in the city this morning. Rosatom’s ‘Global Atomic Quiz’ Friday He said keeping in mind the poor and helpless people who live below the poverty line, Prime Minister Sheikh Hasina decided to give one crore family cards for providing daily commodities at lower prices. The government is selling essential commodities at subsidized rate to more people than the actual number of people living below the poverty line in Bangladesh, he added. The Commerce Minister said that the imported eggs and potatoes have started to play a positive effect on the market. Eggs are being sold at a lower price than the price fixed by the government after the arrival of the first consignment in the country, he said. We’re still trying to hold election involving all parties, says Home Minister The prices of potatoes, onions and other vegetables will be normal by the middle of next month, he hoped. Tipu Munshi said that there is no denying that some unscrupulous traders are taking advantage of the prices of eggs, potatoes and onions, resulting in immense sufferings of the people. “We are going through a tough time regarding  inflation due to the global situation. In the meantime, some dishonest traders are taking extra advantage. “No one will be spared if found guilty regardless of political identity,” the commerce minister warned. At least 2-3 children die from pneumonia in Bangladesh every hour: icddr,b Dhaka South City Corporation (DSCC) Mayor Barrister Sheikh Fazle Noor Taposh and Senior Secretary of the Commerce Ministry Tapan Kanti Gosh spoke at the programme as special guests while TCB Chairman Brigadier General Md. Ariful Hasan, DSCC 12 No. ward councilor Mamun Rashid Subro and senior officials of TCB were present on the occasion.