Dhaka/

Commerce Minister Tipu Munshi said that there is an international and domestic context behind the rising prices of products in the market. But some traders are also taking chances. We are trying our best to handle them.

He said these things while inaugurating the May product sale program of Trading Corporation of Bangladesh (TCB) at Merul Badda in the capital on Sunday. At this time Commerce Secretary Tapan Kanti Ghosh, TCB Chairman Brigadier General Md. Ariful Hasan along with senior officials of Ministry of Commerce and TCB were present.

Regarding the price of oil and sugar in the market, the commerce minister said that the price of sugar has increased due to the increase in the price in the international market. Apart from this, the price of edible oil has increased due to the National Board of Revenue-NBR not continuing the duty exemption from April. A letter has been written to NBR to continue duty exemption on oil. Sugar duty exemption will end on May 31. A letter will also be issued to continue sugar duty exemption. If they continue to cut duty, oil and sugar prices in the market may come down. About 99 percent of the sugar demand in the country has to be imported. Therefore, if the price increases in the international market, it affects the domestic market.

He also said that Prime Minister Sheikh Hasina has taken the initiative to distribute oil, sugar and other products through TCB so that low-income people can buy essential products at low prices. Every month one crore families are being given the product once. TCB buys these products and sells them at low prices. If the price increases, TCB also has to buy at additional cost.

In response to the question of when the digital card will be launched, Tipu Munshi said, “Our main goal is to present a smart card without errors.” It takes a little more time. The work is expected to be completed within the next six months.

Meanwhile, as part of TCB’s monthly activities, 1 crore families are being given 1 kg of sugar, 2 kg of lentils and 2 liters of soybean oil at subsidized prices through family cards across the country for the month of May. In that case, the price of sugar per kg has been increased by 10 taka to 70 taka.

And lentils are being sold at Tk 70 per kg and bottled soybean oil at Tk 110 per liter as before.