Awami League candidate and commerce minister Tipu Munshi has won the Rangpur-4 constituency in the 12th parliamentary election held on Sunday. Former presidents' children who win 12th national elections He received 1,21,622 votes with his party’s ‘boat’ symbol, while his nearest rival, Mostafa Selim Bengal of the Jatiya Party, bagged 41,671 votes. Former JaPa sec general Mashiur Rahman defeated by independent candidate The polling that began at 8:00 am concluded at 4pm without any break amid tight security in 299 out of the country’s 300 constituencies. The counting of votes started immediately after the end of voting. Asaduzzaman Noor bags Nilphamari-2

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.

In the face of severe oppostion criticism in parliament for his alleged failure to control price hike of the essential commodities Commerce Minister Tipu Munshi on Monday offered to resign if  the prime minister gives the responsibility of running the ministry to one of the opposition MPs. Gonoforum MP Mokabbir Khan fired the first shot against Tipu Munshi during the discussion on proposed  cut motion on the Ministry of Commerce in the budget for FY2023-24. Jatiya Party MPs also criticised the commerce minister for the rising prices of daily products. They also raised the question whether the 'business' minister, Tipu Munshi, is involved with the market syndicate or not. Cow rawhide price increases by 6 percent this year: Tipu Munshi Rustam Ali Faraji of Jatiya Party said in the discussion on the retrenchment proposal, what does the monitoring cell of the ministry do?  “Such a big ministry. If the minister does not have dynamism then the price will increase. If only one person works and everyone sleeps, then the country will not run. Market syndicates should be broken up. It is certainly possible if desired. But if you think the business belongs to me then it is sad for the country and its people.” Jatiya Party's Shamim Haider Patwari said that even though the commodity prices have decreased in global markets in the last few months, it is not affecting the country.  Avoid excessive buying to keep markets stable: Commerce Minister “Inflation in Bangladesh was 6 percent now it seems to be 10 percent. It is growing. Inflation is eating away people's income. Due to inflation, soap, bread are all getting smaller," he said. He mentioned that making the government budget and household budget are not the same thing.  He said that the budget of the government is decreasing and due to this rice, pulses, oil, chicken size and meat pitches are getting smaller.  “The economy of Bangladesh is trapped in a vicious cycle of inflation. The government should take steps to overcome this," he said. “There are syndicates. There is no doubt about it. That syndicates are powerful. But are they stronger than the government? I don't think they can be stronger than the government. If there is a syndicate within the government, it must be identified," he said. Bangladesh allows green chilli import as price keeps rising He said that the minister has a vast business.  “He is a successful businessman. I believe that if he is given the freedom to act, then he can definitely control it," said he. Gonoforum MP Mokabbir Khan said that the most unsuccessful ministry of the current government is the Ministry of Commerce.  “When you go to the market, you hear from people that the Ministry of Commerce is so unsuccessful that people call it a syndicate friendly ministry.” With higher spice prices, consumers feeling the pinch this Eid-ul-Azha Alleging the involvement of a syndicate of traders to increase the price of goods, Mokabbir said that many people said that the commerce minister was involved. “Why don't you resign after all this?” Mokabbir asked the the commerce minister. Mokabbir said that when the commerce minister says that the price of a product will decrease, the price of that product increases the next day.  He said that he knows that the minister will not give any answer. Spice prices soar in Faridpur ahead of Eid-ul-Azha Jatiya Party Member of Parliament Roshan Ara Mannan said that people get upset when they go to the market.  “The Ministry of Commerce is not monitoring the market properly. The commerce minister is a freedom fighter. Why can't he control the market ?” Jatiya Party lawmaker Pir Fazlur Rahman said that the minister of state for industries said that people cry when they go to market, and the only reason is the syndicate. “People also understand this. The Russia-Ukraine war alone should not be blamed for the rise in commodity prices. The syndicate has looted thousands of rupees in the egg market. Chicken eggs do not come from Ukraine.” Forex reserves likely to increase due to govt steps: PM Hasina tells Parliament He said that the commerce minister has said that some traders are taking advantage of the product prices.  “Our commerce minister can not arrest the syndicate people who raise prices. He himself is a businessman. He knows which businessmen are doing it. So are these businessmen close to him, which is why he can't catch the syndicate businessmen?” He demanded that the commerce minister should say publicly why he is not able to do that. Pir Fazlu said that Tk 1500 crore has been looted in the onion market.  “A few companies are looting Tk 17 crore daily in the sugar market. Thousands of crores of taka has been looted in boiler chicken market in a month and a half. The commerce minister can't do anything.” Tipu Munshi said that it is possible to take actions against the market syndicate including jail and fine.  “There is talk of syndicate. It's just that big groups do a lot of business together. We need to focus - we jailed, fined. That might be possible. But it will be difficult for us to bear the sudden crisis. That's why we try to stay within the rules through discussion,” he said. Referring to his involvement in politics long before coming to business,  Tipu said, "One thing that comes up time and again is that I am a businessman and businessmen are taking advantage of me. I don't know how many years of experience they have in politics. But I have been in politics for 56 years. I have been in business for 40/42 years now.” Responding to Mokabbir's demand, the minister said, "Someone here asked me to resign. I will tell the honorable prime minister that if he (Mokabbir) takes responsibility, she can relieve me and give the responsibility to him. I have no problem.” Tipu said that the price has increased and the prime minister repeatedly says that people are suffering.  He mentioned that the global situation has affected the country, not the internal causes. “we have to take that into consideration." Talking about the onion price, the minister said, there is no doubt that the price has increased. Onions have been mentioned. We discussed with the Ministry of Agriculture and decided that farmers should get a price that encourages them to grow.  He mentioned that in onion, the country has a shortfall of 6 to 7 lakh tonnes every year.  “Farmers will focus on production if the price is better. By this step our deficit is reduced by half. But it should not be exactly Tk 80 to 90 per kg. That is why we have arranged the import," he said  He said that the government did not want to import onion for ensuring fair price to the local farmers.  “But we imported on the instructions of the prime minister. Imported Indian onions are now Tk 40/45 per kg. Today, the price of our desi onion is Tk 65. I think it should be reduced further. we are trying. Within 10/15 days it will come to within Tk 50 a kg” The minister said that everything is not fixed by the Ministry of Commerce.  “I am still taking responsibility and we are trying our best to do what we can," he stated. Regarding sugar price surge, he said  he has requested the prime minister to reduce the duty structure to bring down the price within Tk 100 a kg.    

Commerce Minister Tipu Munshi said traders have agreed to reduce the prices of sugar by Tk 5 per kg after the reduction in import duty on both raw and refined sugar last month. “As the import duty has been slashed, the prices of sugar can be reduced by Tk 4.5. However, we have requested the traders to reduce it by Tk 5 per kg and they agreed,” he told reporters a  press briefing after the 6th meeting of the task force committee on  commodity prices and market situation at the secretariat on Sunday. The minister hoped that the price of sugar would come down by Tk 5 per kg within the first week of Ramadan.  Also Read: Have enough stock, no scope of price hike during Ramadan: Tipu “We will start monitoring from tomorrow. Currently, we’re assessing the impact of import duty reduction on sugar.” He assured that traders have enough stocks of oil and sugar.      

Commerce Minister Tipu Munshi has said the government has enough stock of daily commodities and there is no scope of hike in their prices during the holy month of Ramadan. "We've got sufficient oil, sugar, chickpeas, and other essential commodities in stock. There’s no scope to increase prices,” he told reporters after a meeting of Task Force committee on commodity prices and market monitoring at the commerce ministry on Sunday. He said the government has taken all necessary measures to keep the prices of essential goods under control during Ramadan. Also Read: Dates, fruits to be more costly during Ramadan due to LC opening crisis The minister said the government is working to keep the prices of eggplant, cucumber, lemon, and chicken under control during the holy month. “Meetings at various levels have been held in the past 15 days to keep the prices of Ramadan goods under control,” he said. He also mentioned strict vigilance has been ensured to prevent extortion during the transportation of these products. Also Read: If people don’t buy in excess, there will be no price hike of essentials ahead of Ramadan: Tipu Munshi “No extortion will be tolerated on roads and highways during Ramadan,” he said. He also said onion price is now at tolerable level and imports have been slowed down a little bit to give farmers a fair price. Also Read: During holy Ramadan, some profit-mongers hike prices and cause public sufferings: PM He said that the market will be closely monitored during Ramadan. “Some may attempt to take advantage of the situation. Anyone who will try to take advantage will face consequences,” he added.      

Commerce Minister Tipu Munshi on Wednesday urged businessmen to make marginal profit during the month of Ramadan considering people’s sufferings.   The minister advised the common people to cross-check and shop without stepping into the trap of lucrative advertisements. Munshi said this while speaking as the chief guest at a discussion meeting organised by the Directorate of National Consumer Rights Protection (DNCRP) on the occasion of 'World Consumer Rights Day 2023' at Bangabandhu International Conference Center in Agargaon  on Wednesday. Taking into account the suffering of the people, the Commerce Minister asked the businessmen, "There are various discount systems in different countries of the world during various festivals. They make little (profit).” “In Bangladesh the situation is different, the holy month of Ramadan is ahead. Be a bit more moderate. Keep prices reasonable in this month, less profit margin less,” he added. The minister also said: “Consumer rights are human rights. When we can inform consumers about all their rights, half of our work will be done. Consumer awareness is very important.” The government is working on this, he said.  Munshi urged people not to buy products in a rush during Ramadan. “Once you buy a product a plenty, it affects the market, and then the traders take it as an opportunity to hike price abnormally.” The President of the Consumers Association of Bangladesh Golam Rahman in his speech called for strengthening the government's steps to reduce the unequal competition in the market as well as the necessary reform of the legal framework and to be proactive in its implementation. Senior commerce secretary Tapan Kanti Ghosh, FBCCI vice president Mostafa Azad Chowdhury Babu, DG of DNCRP AHM Shafiquzzaman, TCB Chairman Ariful Hasan, First Director General of Consumer Affairs, Department Abul Hossain Mia, Competition Commission Chairperson Pradeep Ranjan Chakraborty, among others, were present at the function. Munshi also distributed prizes among the winners of the Essay Competition organised on the National Consumer Rights Day.

Commerce Minister Tipu Munshi has suggested people not buy excessive amounts during Ramadan for the sake of keeping the markets stable. The minister said there is enough stock of essential goods to meet the demand during the holy month of Ramadan, so people should not worry and buy more goods, which will disrupt supply lines. The commerce minister said this while addressing a press briefing in the conference room of the Export Promotion Bureau (EPB) on Tuesday evening. The Directorate of National Consumer Rights Protection (DNCRP) organized the press conference on the occasion of World Consumer Rights Day-2023 on Wednesday (March 15). Also Read: If people don’t buy in excess, there will be no price hike of essentials ahead of Ramadan: Tipu Munshi The commerce minister said that strict legal action will be taken against the culprits if illegal stockpiling is attempted to artificially create a shortage of any product. Already, surveillance and monitoring have been strengthened in the market and the minister sought the media’s responsible role to maintain market monitoring. “Protecting consumer rights will be easier if we work together. The government is trying hard to keep the prices of the country's essential commodities at a reasonable level,” Munshi said. Tapan Kanti Ghosh, Senior Secretary of the Commerce Ministry, DG of DNCRP AHM Shafiquzzaman, and Additional Secretary (Export) of Abdur Rahim, among others, were present at the press conference. Tipu Munshi will be present as the chief guest in the event organized by the Commerce Ministry and DNCRP on the occasion of the celebration of "World Consumer Rights Day-2023" at the Bangabandhu International Conference Center on Wednesday.  

Commerce Minister Tipu Munshi has said there will be no price hike of daily essentials if people refrained from purchasing excess items ahead of Ramadan. “Rapid Action Battalion (RAB) members, police and executive magistrates will monitor markets and there will be no price hike of essential items if people do not buy excess items ahead of Ramadan,” he said. The commerce minister said this while talking to reporters after attending a programme at Chandpur Police Lines Auditorium on Friday. Due to the dollar price going up, prices of daily essentials have gone up in many countries and the prices of imported goods have also seen a rise in Bangladesh, he said. Keeping this in mind, the government has started selling edible oil, sugar, dates, chickpeas and lentils through state-owned Trading Corporation of Bangladesh (TCB) at low prices for one crore low-income families, he added. Also read: TCB starts selling 5 daily essentials ahead of Ramadan From Thursday, TCB started selling daily essentials ahead of Ramadan. The card holders can buy goods at subsidized rates from specific TCB sales points and dealers’ outlets. A card holder can buy 2 litres of soybean oil, 2 kg lentils, sugar, chickpea and 1 kg dates at a time. The card holders can buy sugar at TK 60 per kg, date at Tk 100 per kg, lentils at Tk 70, chickpeas at Tk 50 and soybean oil at Tk 110 per litre.  

Commerce Minister Tipu Munshi on Thursday said the commerce minister of Saudi Arabia will join ‘Bangladesh Business Summit-2023’ organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in March this year on the occasion of its 50th  anniversary. Saudi ambassador to Dhaka Essa Yousef Essa Alduhailan confirmed it with the commerce minister Tipu Munshi during a views exchange meeting at Bangladesh Secretariat  on Thursday. The Ambassador of Saudi Arabia said that Bangladesh is a friendly country of Saudi Arabia. The fraternal and commercial relations with Bangladesh are long-standing. “Saudi Arabia is a development partner of Bangladesh. Saudi Arabia gives more importance to Bangladesh in terms of investment and trade,” he said. Minister of Commerce of Saudi Arabia Majid bin Abdullah Al Qasabi along with a large delegation will join the business summit. Bangladesh Business Summit 2023, scheduled for March 11-13, 2023, is an international trade and investment promotion event. Prime Minister Sheikh Hasina will inaugurate the event. In the meeting, Tipu Munshi said that Saudi Arabia is a very good friend and brotherly nation of Bangladesh. He urged more Saudi investment and better bilateral trade. Senior officials of the commerce ministry and the Saudi Embassy in Dhaka were present at the meeting. Read more: Bangladesh, China can benefit from better coordination: FBCCI

Commerce Minister Tipu Munshi on Sunday emphasized widening the net of VAT and tax collection in general in keeping with the development of the country. He said this while speaking at a seminar titled 'Role of VAT in National Development: Present and Future' held at Bangabandhu International Conference Center (BICC) on Sunday, the first day of the two-day revenue conference. Chairman of National Board of Revenue (NBR) Abu Hena Md. Rahmatul Muneem chaired the seminar. Addressing the officials of NBR, the commerce minister said, “We are talking about coordination in some matters from the Ministry of Commerce. It's the best. We want you to do that with our combined efforts.” In 2026 there will be pressure on customs duty. It is expected that after graduation from LDC list, the NBR would face several challenges. The commerce minister has advised looking at the scope of VAT and income tax. Its net must be widened, Munshi said. "Now if you go to collect income tax, you will become disliked by people. No one wants to pay tax; you have to take a positive role there too," he pointed out. Also read: NBR extends income tax returns submission date to Dec 31 He also said, “We need a Smart Bangladesh. Ending digital and moving towards smart. To reach the goal, your actions must be smart. That's why I heard about different processes, and different types of automation coming. I am very optimistic; your work will take us forward in building Smart Bangladesh.” The NBR is organising a two-day revenue conference on February 5 and 6 to increase public awareness and develop a revenue-friendly mindset. Simultaneously, the new NBR premises were inaugurated at Agargaon on February 5. Prime Minister Sheikh Hasina inaugurated the revenue conference and the new building.