In an effort to keep the prices of eggs stable, the government on Monday approved import of 4 crore eggs, said Secretary to the Commerce Ministry Tapan Kanti Ghosh. “The government will regularly monitor the market to check the price of eggs and if no improvement is seen then approval will be given to import more eggs,”he said while talking to reporters at the secretariat. Last month, the Fisheries and Livestock Ministry fixed the price of egg at Tk 12 per piece at retail level. Market mismanagement behind the rise of egg price But the Consumers Association of Bangladesh (CAB) during the drive found that the traders are not selling eggs at the government fixed price, he said. So, the government gave approval to four companies to import 4 crore eggs and each company can import one crore eggs, said Tapan. Replying to a question, from where the eggs will be imported, the secretary said they can import eggs from any country where the price is low. Eggs to be imported if required : Minister Asked whether there is any condition in importing eggs, he said there is no condition but the price of eggs should not be more than Tk 12. “ Bangladesh needs 4 crore eggs in a day for its consumers  and we have given approval  of import for one day. I don’t think it will affect the local market or the farmers much,” said Tapan. Earlier, on August 13, Commerce Minister Tipu Munshi said the government will allow the import of eggs after consultation with the Fisheries and Livestock Ministry if the price of eggs does not come down. Hike in egg price: Consumer Rights Protection body realises Tk 10,000 in fine in Faridpur As price of eggs soars abnormally the members of Directorate of National Consumer Rights Protection are conducting drives in different wholesale markets in the city and realising fines. According to the Bangladesh Egg Producers Association, the country requires between 35 and 40 million eggs per day to meet demand. And the majority of the eggs are sourced from domestic producers.  

Commerce Secretary Dr Tapan Kanti Ghosh has acknowledged that the country's impending graduation from the least developed countries (LDC) grouping would present new challenges as well as opportunities for the economy. He made the remarks while addressing a consultation meeting of the Bangladesh Foreign Trade Institute (BFTI) titled “Identification of Trade-related Graduation Challenges and Preparation of Sector-Specific Trade Roadmaps for Overcoming the Challenges” on Tuesday. The BFTI, a subordinate body of the Commerce Ministry to deal with issues under the World Trade Organization (WTO), organised the meeting to discuss the findings of its recently conducted research on post-graduation challenges to trade and business. Read more: LDC Graduation: Bangladesh, Lao PDR, Nepal join UN-led exchange on smooth transition The commerce secretary said the public and private sectors must work together to address the LDC graduation challenge. “There is no option but diversification of products and exports to overcome the graduation challenge and to develop trade,” he said adding, "The government has taken various steps for ease of doing business and all the ministries and agencies of the government are working together." In the consultation meeting, the stakeholders discussed different issues to identify and overcome trade-related challenges of LDC graduation. They made different suggestions for developing a roadmap on trade for 4 sectors of light engineering, plastic products, leather & leather products and non-leather footwear. Earlier, a similar stakeholder consultation meeting was held on November 3 to draw up a trade-related roadmap for different sectors including manufactured garments, shipbuilding industry, agricultural products and processed food and fisheries and livestock in the first phase. The third phase of the stakeholder consultations featuring 4 more sectors will be held on November 10. Read more: Post-LDC graduation challenges: Commerce ministry for public-private partnership for product diversification With BFTI Chief Executive Officer Md Zafar Uddin in the chair, the meeting was also addressed by Hafizur Rahman, director general and additional secretary of WTO Wing of the Commerce Ministry, president of Bangladesh Plastic Goods Manufacturers and Exporters Association Shamim Ahmed, President of Bangladesh Engineering Industry Owners Association Abdur Razzak and representatives of different public and private sector organisations.  

The prices of edible oil are likely to drop within a day or two due to fall in prices in global market, said secretary to the Commerce Ministry Tapan Kanti Ghosh on Sunday. “Good news will come in a day or two about the prices of edible oil. We are focusing on re-fixing the prices of edible oil and the Tariff Commission will sit with the oil refining companies to fix the new prices,” he said. Read: TCB to procure soyabean oil, lentil and sugar from business groups Tapan revealed this information while responding to a question from reporters at a press briefing organised on the occasion of the 12th Ministerial Conference of World Trade Organisation at the secretariat. Bangladesh import soybean oil from Paraguay, Brazil and Argentina and it takes 45 to 60 days to arrive in Bangladesh, he said. Read:Soybean oil price goes up again On June 9, bottled soybean oil price jumped to Tk205 per litre.

A delegation of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) led by its President Md. Mamunur Rashid called on Tapan Kanti Ghosh, Senior secretary, ministry of commerce at his secretariat office on Tuesday. ICMAB President updated the secretary about its activities and particularly about the development issues of CMA profession. Read:Bangladesh now safest, most transparent RMG maker in the world: BGMEA He also sought help of the secretary for further development of ICMAB. The secretary congratulated the newly elected office bearers of the institute and assured them of support and assistance in their activity. Among others Treasurer Md. Ali Haider Chowdhury, Past President AKM Delwer Hussain and Executive Director Muhammad Abdullah were present in the meeting.

The country’s Company Act needs to be amended and modernized in line with the global perspective for sustainable financial growth, Commerce Ministry’s Senior Secretary Tapan Kanti Ghosh said on Saturday. The Company Act was last amended in 1994 and it needs to be made time-befitting to adopt so many changes in the global economy and trading system, he said. The commerce secretary came up with remarks while addressing as the chief guest in the opening session at a workshop titled “Investigative Journalism on Company Reporting” held at ERF auditorium. Also read: Onion market to become stable soon: Commerce Secretary The program was jointly organised by Management and Resources Development Initiative (MRDI) and Economic Reporters’ Forum (ERF). The four-part workshop was chaired by Sharmeen Rinvy, ERF President,  Barrister Nihad Kabir, chairperson of BUILD (Business Initiative Leading Development) and former president of Metropolitan Chamber of Commerce (MCCI), Shahidul Islam CFA, former president CFA Society Bangladesh, Shafiqul Alam, bureau chief of Agency France Press (AFP), among others, spoke in the function. ERF secretary SM Rashedul Islam Moderated the program. Tapan Kanti Ghosh said the government has taken initiative to amend the Company Law to make it inclusive  after reviewing various aspects of the economy. He said in the free market economy, it is the responsibility of the state to ensure fair prices of goods and services. Also read: Restaurant owners want reduction in VAT & NBR’s one-stop service The government is trying to do that along with creating a competitive environment for business and productions, the senior commerce secretary said. Barrister Nihad Kabir said there as problems have arisen with the passage of time the law need to be rectified.

The government has formed a special committee to keep the prices of daily essentials stable during the holy month of  Ramadan, said Commerce secretary Md Jafar Uddin on Saturday.