16 Apr 2024, 17:07
Update : 16 Apr 2024, 17:30

No scope to hike prices of edible oil now: Titu

DHAKA, April 16, 2024 (BSS) - State Minister for Commerce Ahsanul Islam Titu

today said there is no scope for increasing the edible oil prices now, but
these can be reviewed.

"When VAT was exempted, traders were given 15 days to implement the reduction
in prices, so the new prices would be effective after the VAT-exempt goods
arrived in the country. Now with the withdrawal of VAT exemption, there is no
opportunity to increase the price instantly," he said.

The state minister said this while speaking at a 'Meet the Reporters' event
organised by the Dhaka Reporters Unity (DRU) at its auditorium in the city.

With DRU President Syed Sukur Ali Shuvo in the chair, the event was moderated
by its General Secretary Mohiuddin Ahmed.

Titu said ensuring consumer rights is the top most priority of the present
government as it is a "public-friendly government".

"The present government is public-friendly. We are working to ensure consumer
rights. We are also providing all sorts of support to the businessmen who are
doing business ethically," he added.

In the next budget, Titu said, a proposal will be sent to the National Board
of Revenue (NBR) to keep the tariff on common consumer products including
rice, lentil, oil and sugar at a reasonable level.

"It is not right to impose additional duty-tax beyond the reasonable limit on
imported consumer goods and common people's daily necessities," he continued.

Titu, however, said the prices of commodities were under control during
Ramadan and the countrymen celebrated Eid-ul-Fitr and Bangla New Year with
relief and enthusiasm.

"We are working relentlessly to keep the market price under control. We are
not working for results or achievements, we are working in the interest of
the country and its people," he said.

The next few years are very important for Bangladesh, the state minister
said, adding: "We want to take our trade to our desired goal."


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