Commerce Minister
Govt hikes rawhide prices ahead of Eid
Ahead of this year's Eid-ul-Azha, the government has hiked the base price of raw cowhide by Tk 7.
Raw cowhide will now cost Tk 47-52 per sq ft in Dhaka and Tk 40-44 outside the capital.
This was announced by Commerce Minister Tipu Munshi after chairing a virtual meeting at the Ministry on Tuesday.
Also read: Benapole: BGB on high alert to prevent rawhide smuggling
Last year, the raw cowhide price was fixed at Tk 40-45 per sq ft in the capital and Tk 33-37 outside Dhaka.
Besides, the minister said, the price of goatskin has been fixed at Tk 18-20 per sq ft across the country, which was Tk 15-17 last year.
However, the price of female goatskin have remained the same at Tk 12-14 per sq ft.
Also read: Govt fixes rawhide prices ahead of Eid-ul-Azha
The Minister emphasised on applying salt on animal hides soon after their sacrifices. “It will be good if people are made aware about applying salt in sermons after the next Jumma prayer,” he said.
Tea production increasing by 5 percent each year: Commerce Minister
Commerce Minister Tipu Munshi on Saturday said quality tea production is increasing by 4 to 5 percent each year in the country.
Despite this increase, Bangladesh’s tea export is not increasing in line with the production as domestic consumption of tea increased with the purchasing ability of people, he said.
People in the rural areas are also accustomed to tea, as a result, on an average people are taking 10 crore cups of tea every day in the country, the commerce minister said.
Also read: Panchagarh all set to see record high tea production
Tipu Munshi said this while addressing as the chief guest at the inaugural function of 'Tea Day' at Osmani Auditorium in the capital on Saturday. The event was jointly organized by the Ministry of Commerce and Bangladesh Tea Board.
Expatriate Welfare Minister Imran Ahmed, FBCCI President Jasim Uddin, Bangladesh Tea Board Chairman Major General Ashraful Islam, Bangladesh Tea Association Chairman M Shah Alam and Tea Traders Association Chairman Omar Hannan, among others, spoke on the occasion. Senior secretary of commerce ministry Tapan Kanti Ghosh presided over the function.
Also read: Time to invest in Bangladesh, Tipu Munshi tells Nordic countries
Tipu Munshi said the production of tea increased to 96.51 million kg in 2021 which was 60 million kg in 2009. If the production would not grow, tea consumption is required to meet by importing.
The minister urged the tea garden owners to work more for the welfare of 1.49 crore workers, who are working hard to develop this sector.
Edible oil prices likely to drop in Bangladesh in line with global market: Commerce Minister
Commerce Minister Tipu Munshi on Thursday said prices of edible oil may fall in Bangladesh in line with declining prices in the international market.
“We have seen that the prices of edible oil are declining in the international market and Indonesia has also withdrawn its ban on exporting edible oil. We will review the prices of oil within five to seven days and will fix new rate. It will take one and a half month time to come into effect,” he said.
Also read:Dealers, retailers betrayed me on edible oil price: Commerce Minister
The minister said these while speaking at a press briefing held at the conference room of the ministry.
The good news is that the price of palm oil has come down and the price of soybean oil has started to decline, he said.
Efforts on to import wheat from 5 alternative sources: Tipu Munshi
Commerce Minister Tipu Munshi said on Monday that the government is trying to import wheat from five alternative sources, including Ukraine after India banned the exports of the food grain.
India has announced a ban on wheat exports amid the devaluation of taka against the US dollar, he said while addressing a dialogue organised by Bangladesh Secretariat Reporters Forum (BSRF) at the Secretariat.
“But hopefully, India will consider it in case of neighbouring countries. We are continuing negotiations,” he added.
Read: Bangladesh heading towards acute crisis: BNP warns
The minister said the government, instead of controlling the market of daily commodities, should work to keep it stable.
“We are business friendly. We fix the price in line with the global market. If there is a fixed price in the market, the market will remain stable,” said the minister.
He said when the situation in the global market is stable the domestic market also stays stable.
There is a minor issue with the prices of edible oil, sugar and lentils.
“We have to import 90 per cent of the edible oil. The price increases in our country in line with the global market,” he added.
The Russia-Ukraine war has had a huge impact on the food products, he said. And so the minister urged all to be accommodative as there is some crisis ahead.
The oily confession and our ministers
The statement by the commerce minister that his big mistake was to trust oil traders around Eid on hoarding and price fixing was hilarious and scary at the same time. It showed anything can be done and blamed on the upbringing.
Also read:Dealers, retailers betrayed me on edible oil price: Commerce Minister
In the West, rapists do it commonly and even murderers do so blaming childhood trauma for their crimes committed later on. Our minister is not in the same sector but to say he trusted the traders who have a long history of economic crimes is extreme naiveté. That he was taught to trust others as a child hence the edible oil crisis could be stated and got away with only in Bangladesh where ministers matter less and less.
When he said that he had learnt to trust all and he found that the traders hadn’t kept their word on not hoarding and price fixing, he was admitting failure. What he is saying is that he didn’t know that they never planned to keep their word. And that’s the whole point. His job is not to trust but make sure disasters don’t happen whatever be their childhood trauma.
Thus like many who refuse to take responsibility for their acts he did nothing either. His prime role is to protect the interest of the consumer and not show nostalgia for his past. In the end, it sounded like the fault was not his but that of the hoarders only and perhaps his simple minded pious parents .
Also read:TTE suspension: Railway minister embarrassed by his wife’s involvement
The Minister being a hugely successful businessman himself should know how things happen in Bangladesh and act accordingly. At least this excuse doesn’t work as one in this case. The accusation against the business community has gone against himself. And as a result, the AL regime is being blamed as a party to the edible oil crisis.
What the Railway and the Commerce Ministry incidents have done is expose the level of commitment and competence the Ministers may have. Both came out looking poorer showing low levels of judgment. It will not go much against them as it really doesn’t matter who they are and what they do. But it will affect the regime and its leadership. Things can be done better and should have been than these rather shoddy displays of performance and even greater displays of creative excuses for not doing their jobs properly.
Dealers, retailers betrayed me on edible oil price: Commerce Minister
Commerce Minister Tipu Munshi on Monday said the dealers and retail businesses betrayed him by increasing the price of edible oil during the month of Ramadan.
“I had made a mistake by urging them to keep the prices of edible oil at a tolerant level during the Ramadan. They (dealers and retailers) did not keep my words. I was wrong,” he said.
He was speaking at a press conference on the market management of the edible oil at his office on Monday.
Admitting his ministry’s failure to control the price hike of this daily cooking ingredient, Tipu said, “It’s our failure. We had asked them not to increase the prices of edible oil. But they did not follow our instructions during the seven days of the Eid celebration. We have directed all organisations concerned to keep the oil prices at a level fixed by the government.”
Also read: Govt approves fresh hike in edible oil price effective Friday
About the syndicate over edible oil, the minister said he didn’t find its existence.
Blaming the retailers and dealers, Tipu said there is no chance of syndication of lakhs of dealers across the country.
“The government has withdrawn 10 per cent VAT on edible oil on March 20 as per our request. The price of soybean oil was reduced to Tk 10 at that time. We have taken weekly information from big companies. Problem was created as retailers and dealers knew that oil prices will be fixed after Ramadan.
Many businessmen hoarded edible oil before Eid. That was the fraud.”
The commerce minister also mentioned that the price of edible oil has also been increased at Tk 10-12 in neighboring India.
Expressing his firm commitment to monitoring the edible oil market regularly, he said, the government will not put pressure on the businesses though. He, however, assured punitive action will be taken against the hoarders.
Tipu said his ministry will provide one crore daily commodities from next June through the Trading Corporation of Bangladesh (TCB).
Also read: Soybean oil price jumps as Indonesia bans export of palm oil
At the press meet, City Group Chairman Fazlur Rahman said he will extend all kinds of cooperation to the government to keep the prices of edible oil stable.
People getting benefits of tax reduction on commodities: Commerce Minister
The commerce minister Tipu Munshi MP on Sunday said there is no possibility of shortage of any goods during the Ramadan as there is enough stock.
The prices of almost all goods have remained stable and it will continue, as the ministry is working against illegal stocking and creating panic in the markets, he said.
The minister came up with the remarks while addressing a press briefing after visiting Karwan Bazar, the largest kitchen market in the capital on Sunday.
Also read: Prices of essentials to stay tolerable during Ramadan: PM
Tipu Munshi said the consumers are getting benefits from the tax reduction and tax withdrawing on essential commodities.
Price manipulators to face the music: Tipu
Commerce Minister Tipu Munshi on Monday warned that the government will come down hard on manipulators of commodity prices to prevent any artificial crisis in the market.
He said that there is an additional supply of all types of commodities than the demand, so there is no reason to panic.
The minister was addressing a press briefing on the occasion of World Consumer Rights Day at the Bangladesh Secretariat.
Also read: TCB to provide food support to 1 crore families during Ramadan: Tipu
The government has taken all possible steps to protect the rights of consumers. To ensure this, the National Department of Consumer Protection has launched a hotline service number 16121 titled 'Consumer Window', Tipu said.
“If any consumer's rights are violated, he/she can call this number and lodge a complaint. If the allegation is proved in the investigation, the complainant will get 25 per cent of the fine immediately,” he said.
Replying to a question, the minister asked e-commerce consumers to be more conscious of ordering goods online, he said.
The ministry has initiated to refund the money of e-commerce consumers and gradually all consumers will get their money, he said.
Also read: Edible oil price may go up further: Tipu Munshi
Tapan Kanti Ghosh, senior Commerce Secretary, AHM Shafiquzzaman, Director General (Additional Secretary) Directorate of National Consumers Right Protection, Nur Md. Mahbubul Hoque, additional secretary (FTA), among others, were present at the briefing.
Commerce Minister urges Malaysia to set up industries in Bangladesh
Commerce Minister Tipu Munshi on Thursday urged Malaysia to invest in Bangladesh taking advantage of huge manpower at an affordable cost.
He also emphasized signing of FTA between two countries for enhancing trade as products of both countries have been meeting demands of consumers.
The commerce minister came up with remarks during a meeting with a 14-member delegation led by Malaysian Minister for Plantation, Industry and Commodities Datuk Hajah Zuraida Binti Kamarunddin at his secretariat office.
Also read: Commerce minister warns against using fake FB accounts in his name
Bangladesh is exporting various products including readymade garments, jute products, plastics, light machinery and leather goods to Malaysia.
Munshi said Bangladesh exported goods worth USD $ 306.57 million to Malaysia in the fiscal year 2020-2021, while imported goods worth $1576.89 million. Bangladesh has a huge demand of various Malaysian products including palm oil, furniture, chocolate and fruits.
Malaysia will get huge profit if it sets up factories of these products in Bangladesh, he said.
Visiting Malaysian Minister Datuk Hajah Zuraida said Bangladesh is a friend of Malaysia and an important business partner.
“Ongoing trade and economic relations between the two countries have the potential to grow. In particular, there is a demand for Malaysian furniture, rubber products, chocolate and sugary food products in Bangladesh,” she said.
Both countries can work to increase trade and boost economic cooperation and Malaysia is keen to enhance trade with Bangladesh, Datuk Hajah Zuraida said.
Also read: Company Act needs amendment: Commerce Secretary
Additional commerce secretaries AHM Shafiquzzaman, Nur Md Mahbubul Haque, Malaysian deputy (plantation) secretary Mad Zaidi bin Mohd Karli, deputy under-secretary Jaime Yeoh, palm oil board director Dato Dr. Ahmad Parveez bin Ghulam Kadir, among other, were present in the meeting.
Bangladesh to increase potato export to ensure better price to farmers : Commerce Minister
Commerce Minister Tipu Munshi on Friday said potato export will be increased to ensure that the country’s farmers get better price.
“Enough potatoes are produced in the country. An initiative has been taken to increase potato export to ensure fair prices to the farmers,” he said at a press conference in Rangpur.
Apu Munshi Memorial Trust and Rotary Club of Uttara (Dhaka) hosted the event at Rangpur Circuit House, said a PID release.
Read: Govt stares at potato glut; plans to boost export
Tipu said the country's overall 9export revenue is going up day by day. This year, the export revenue target has been set at USD 51 billion. The government is aware of potato production, consumption and export, he added.
He said several steps have been taken to keep the prices of essential commodities under control in the country.