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Commerce Minister Khandaker Abdul Muktadir
Commerce Minister Khandaker Abdul Muktadir stated on Monday (September 21) that the existing tax structure will be systematically reviewed to keep essential commodity prices within the reach of ordinary consumers. The government will also maintain strict, real-time oversight of domestic production figures, Letters of Credit (LCs) opened, and goods currently in transit or awaiting shipment.
Speaking at a high-level review meeting on essential goods supply and pricing at the Secretariat in Dhaka, the minister announced that a commodity "traceability system" will soon be rolled out to enhance supply chain transparency and accountability, with poultry and eggs prioritized in the initial rollout. Traceability will allow authorities to monitor each link in the supply chain—from origin and import to distribution, storage, and retail sale.
The review session was attended by Commerce Secretary Md. Ataur Rahman Khan, Bangladesh Trade and Tariff Commission (BTTC) Chairman Nasir Ud Doula, Directorate of National Consumers' Right Protection (DNCRP) Director General Md. Zahirul Islam, alongside leading importers and trade association representatives dealing in pulses, edible oil, dates, eggs, and sugar.
Addressing global fuel volatility, the minister noted that surging international crude prices inevitably exert domestic economic pressure. When the government absorbs portions of these costs, it strains the national exchequer, underscoring the vital need for energy efficiency and conservation. He cautioned against market manipulation, warning that anyone attempting to exploit external shocks to artificially inflate prices or reap unwarranted profits will face stringent legal measures.
According to data presented by the BTTC, essential commodity imports and LC openings have shown positive momentum compared to last year. Annual domestic demand for lentils stands at around 700,000 tonnes; between July 1 and September 15 this year, imports reached 106,000 tonnes, up sharply from 42,000 tonnes during the corresponding period last year. Similarly, imports of oilseeds (raw edible oil materials) rose to 386,000 tonnes from 273,000 tonnes year-on-year. Annual demand for sugar stands at 2 to 2.1 million tonnes, with roughly 300,000 tonnes required during Ramadan alone. The commission characterized the import pipeline as healthy and stable.
Regarding recent domestic disruptions, the commerce minister acknowledged that gas supply constraints had temporarily hampered industrial manufacturing and logistical transportation, while adverse weather affected localized markets. He expressed confidence that the upcoming winter vegetable harvest would ease retail pressures shortly. Stressing that public trust is just as critical as absolute price stability, he pledged coordinated market enforcement involving the DNCRP, law enforcement agencies, and district administrations.
