Awami League General Secretary Obaidul Quader on Thursday (March 14, 2024) said the government is trying to identify those who are involved in market syndicates and investigating whether BNP has any link to the syndicates and hoarders. The AL leader said this while speaking at an opinion exchange meeting at the Awami League's central office at Bangabandhu Avenue. BNP will get more isolated if it continues movement during Ramadan: Quader Quader, also the Road Transport and Bridges Minister, expressed worries that such syndicates could attempt to destabilise the government and disrupt the progress of the elected government. Regarding the surge in commodity prices, the minister said the governmen under the leadership of Prime Minister Sheikh Hasina is working to bring the commodity prices within the reach of common people. On the issue of commodity price control, Quader referenced his recent visit to Singapore, where he observed a significant rise in commodity prices. “Efforts are being made to control prices in our country. The government is not inactive here. The Prime Minister is giving time to deal with the crisis. We have no negligence here. The whole world is facing the rise in gas, fuel and commodity prices. This crisis is also going on in the US, Europe, the other developed countries,” he said. Responding to questions about the recent hijacking of Bangladeshi ship and crew  in Somalia, the minister assured that the Foreign Ministry is engaged in securing their release. He said 23 crew members have insurance coverage, and efforts are underway to ensure their safe return. Hasan Mahmud says Ganatantra Mancha attacked police to incite chaos Regarding the negative impact on relation with the US over the conviction of Dr Yunus, the minister said,” Dr Yunus is a person. I want to who he is in the US. He is a citizen of Bangladesh. Bangladesh has its own law and court and law is equal for all.”

Bangladesh's Prime Minister Sheikh Hasina today (March 11, 2023) asked the business community leaders to find ways to bring commodity prices to a normal level.  “Considering public suffering, the business community leaders will have to find ways to bring prices of essentials to a normal level. Otherwise, you will lose your markets,” she said. The premier said this while inaugurating Bangladesh Business Summit-2023 at Bangabandhu International Conference Centre in the city. Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), in partnership with Ministry of Foreign Affairs, Commerce Ministry and Bangladesh Investment Development Authority (BIDA), is arranging the three-day summit. Read More: If people don’t buy in excess, there will be no price hike of essentials ahead of Ramadan: Tipu Munshi Sheikh Hasina said people are going through a very difficult time due to high prices of essentials and inflationary pressure. She said developing countries like Bangladesh as well as developed countries are facing severe problems due to price hike of essentials and high inflation caused by the Russia-Ukraine war, economic sanctions and counter-sanctions following the Covid-19 pandemic. Ministers from seven countries including the United Kingdom, the Kingdom of Saudi Arabia, China, Bhutan and the United Arab Emirates, CEOs of 12 multinational companies, and more than 200 foreign investors and business leaders from 17 countries are participating in the business summit. Read more: 'Business Summit to help brand Bangladesh's identity, manufacturing prowess to foreign investors' Foreign Minister Dr AK Abdul Momen, Commerce Minister Tipu Munshi, PM's Private Industry and Investment Affairs Adviser Salman Fazlur Rahman, Saudi Arabian Minister of Commerce Dr. Majid bin Abdullah Al-kassabi, Bhutanese Minister of Commerce and Employment Karma Dorjia and Deputy Director General of World Trade Organisation (WTO) Xiangchen Zhang spoke at the opening function, while FBCCI President Md Jashim Uddin delivered the welcome speech. The Business Summit is being organized as a part of the FBCCI's 50th founding anniversary celebrations with the aim of creating new opportunities for trade and investment by showcasing the country's economic potential before a global audience. The Business Summit will showcase dynamic investment opportunities and improvements to the local business climate while also giving insights into investment priorities of global investors to improve policymaking. Read more: PM to inaugurate Bangladesh Business Summit on Saturday

Sugar production will rise and prices come down soon as necessary measures, including increasing gas supply, have been taken,  said Commerce Minister Tipu Munshi on Thursday. Sugar production has decreased slightly due to low pressure in gas supply, said the minister at a meeting of the taskforce on reviewing commodity prices and market condition at the Secretariat. Read more:Govt allowing import of 1 lakh tons of sugar to keep price stable “However, there is sufficient sugar in our stock,” he added. The government has taken all kinds of steps to keep the supply of essential commodities stable, Tipu said, adding there no risk of commodity crisis currently in the country. “Five crore low-income people of the country are being provided with oil, lentils, and sugar every month at affordable prices through one crore cards at the instruction of Prime Minister Sheikh Hasina, said the minister adding, a large number of the people of the country are benefiting from this. Read more: Wheat being imported from Canada, market to be stable soon: Tipu Munshi Strict monitoring is continuing to keep the supply, stock and prices of the country's daily necessities stable, he added.

Information and Broadcasting Minister Dr Hasan Mahmud on Wednesday warned that the government will take stern action if the prices of essential goods or transport fares are raised unnecessarily on the plea of hike in fuel prices. Taking the recent fuel price-hike as an advantage, some unscrupulous businessmen have increased the price of goods and also the transport cost to enhance their profits, he said while exchanging views with journalists at the Bangladesh Secretariat here. Read: AL won't let BNP set the stage for another August 15: Hasan “It (irrational price hike) is in no way acceptable. Our government is monitoring these and I hope business organizations and leaders will play a role in this regard. If needed, the government will take strict action against them,” said Dr Hasan, also a joint general secretary of Awami League. Replying to a question about the Hartal (strike) called by the left-leaning alliance to protest the price-hike of daily commodities, the minister said there is high inflation throughout the world. He said the inflation is 8.5 per cent in the USA, 9.4 per cent in the UK, 25 per cent in Pakistan and over 9 percent in Australia.  But the inflation is 7.5 per cent in Bangladesh and was below 7 per cent till May last, which is lower than many countries, he added. The AL joint general secretary said the left-leaning alliance is a pro-liberation force and this is why he respects them, said a PID handout. The Information Minister requested them so that anti-liberation forces including BNP, anti-state force and militant groups would not be benefited with their activities.

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.