Oil, sugar, potato prices not decreasing

The prices of three essential food items - oil, sugar and potatoes - are not decreasing at all in the daily commodities market. Even two months after the fall of the Awami League government, the three products are still being sold at the same high prices as before.

Consumers are struggling to buy these products in the inflationary market. They say the government needs to take effective steps along with increasing strict surveillance in the market.

Then it is possible to bring the prices of goods under control. Organizations working with consumers are saying that the government is not taking proper steps to reduce the prices of these daily necessities. As a result, traders are making huge profits as before.

Representatives of the anti-discrimination student movement met with the Bangladesh Competition Commission on August 21.

Representatives of several private companies including Meghna, City, S Alam, Deshbandhu, Edible Oil, TK Group were present at the meeting that day. Also present were representatives from the Ministry of Industries, Tariff Commission, Department of Consumer Affairs, Department of Agricultural Marketing, Bangladesh Bank and students from various universities of the country. 

At the meeting, Md. Bin Yamin Molla, a student of the Department of Public Administration at Dhaka University, gave a seven-day deadline (ultimatum) saying that the price of soybean oil should be increased to Tk 120 per liter, sugar to Tk 90 per kg, and potatoes to Tk 25 per kg. This ultimatum was given to the relevant government institutions including the Ministry of Commerce and Agriculture, Bangladesh Bank.

At the same time, the same ultimatum was given to all the private businesses that import and sell related products. But even after a certain period of time, the prices have not come down. Soybean oil is now being sold in the market at 167 taka per liter, sugar at 130 taka per kg and potatoes at 65 to 60 taka per kg. 

When asked about this, Md. Bin Yamin Molla said, 'Along with the ultimatum to reduce commodity prices, we had a demand that those who were friends of the previous dictatorial government should resign. After that, Competition Commission Chairman Pradeep Ranjan Chakraborty is no longer in his post.

"We were supposed to have more meetings later, but due to the absence of anyone in that position, other members of the commission are unable to coordinate on this matter. If the private institutions involved in these products do not reduce their prices, we will protest against their corruption and irregularities. We will protest along with the common people. We will have a meeting with the Competition Commission. If they delay meeting with us any further, then we will discuss and give a program ourselves." 

He said, "It has been almost two months since the new government came to power, but there has been no significant change in the main need of the people of our country, namely reducing the prices of goods. So how have the expectations of the people who gave so much life and blood been fulfilled? No results are coming."

Mamun Ahmed, a private sector employee, came to the Kalachandpur Bou Bazaar in the capital's Gulshan-2 area. When asked about the price of the product, he told Kaler Kantho, white potatoes cost 65 taka per kg. It shouldn't be this expensive. Earlier, these potatoes were between 25 and 30 taka. But now they are more than double. It's not that there are no potatoes in the market, there is a shortage. There are potatoes, but the prices are high. This cannot be. The government needs to take immediate action in this regard now.

Consumers say that traders reduced the prices of daily necessities slightly in the first two weeks after the new government came to power. But as time passed, the traders' syndicates changed their tune and continued to act as before. However, no effective action is being taken by the government.

In this regard, Consumers Association of Bangladesh (CAB) Vice President SM Nazer Hossain said, "Syndicates are operating in the market. Traders are now coming in new forms. After August 5, the prices of goods were slightly lower for about two weeks. After that, traders realized that the current government would not do anything about traders. That is why they have kept their activities as before."

Importers say that the government has to pay 40 to 42 taka per kilogram of sugar, including all types of VAT and taxes. This increases the price of imported sugar. On the other hand, they are under pressure due to the smuggling of sugar from India. As a result, the price of sugar is not decreasing.

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