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New cabinet: People pin hope on commerce ministry for price stability

  • Continuous price hike challenge for common people
  • Commerce ministry earlier drew disappointment, criticism
Update : 15 Jan 2024, 12:13 PM

"Regardless of whoever is at the helm of the commerce ministry, all we want are three square meals. People should be able to spend for their families according to their income. The price of things should be affordable.”

Uttered by Farukh Islam, a resident of Mohammadpur, this is a sentiment shared by many in Bangladesh.

The continuous rise in the prices of daily necessities has been a persistent challenge for common people, making it difficult to keep up with market rates. 

Against this backdrop, the new government cabinet has been formed after the 12th parliamentary election. 

The market rate, which significantly impacts the daily lives of citizens, is determined by the government in alignment with public demand and income.

Following the 12th national parliamentary election, the newly appointed cabinet members, led by Prime Minister Sheikh Hasina, were sworn in by President Sahabuddin at the Bangabhaban on Thursday evening. 

This marks Bangabandhu's daughter Sheikh Hasina assuming the role of prime minister for the fifth time.

Just hours before the cabinet swearing-in, the Cabinet Division issued a presidential consent notification, re-appointing Sheikh Hasina as prime minister and forming a new cabinet under her leadership. 

Alongside the prime minister, 25 full ministers and 11 state ministers have been appointed, including two technocrat ministers within the 36-member Council of Ministers.

The Ministry of Commerce was one of the few ministries that drew disappointment and criticism from the common people during the tenure of the outgoing government. 

Former Commerce Minister Tipu Munshi faced various criticisms for the rise in commodity prices, failure to dismantle business syndicates, and negative remarks in the media.

In the 12th parliamentary elections, Tipu Munshi was replaced by the newly elected Member of Parliament Ahsanul Islam Titu from Tangail-6 constituency, who assumed the role of state minister for the first time.

Ahsanul Islam Titu, in a prompt response to the media after receiving the responsibility of the state minister of the Ministry of Commerce in the new cabinet, expressed his commitment to controlling the price of daily necessities within the purchasing power of the people. 

He said: "I will try to fulfil the responsibility that I have received with honesty."

Ahsanul Islam Titu, elected as a Member of Parliament from Tangail-6 Constituency in the 11th National Parliament Elections in 2018, has a background as the president of Dhaka Stock Exchange and the Managing Director of Thanthi Life Insurance. 

Coming from a political family, he is the son of Haji Maqbul Hossain, who was elected as a Member of Parliament in 1996 from Dhaka-9 Constituency.

Regarding the expectations of the common people for the new cabinet, especially the commerce ministry, Mohammadpur businessman Kamal expressed to Dhaka Tribune that, regardless of the commerce minister, the key concern is ensuring everyone can afford three meals a day. 

He emphasized the need for the new state minister to play a role in controlling the market, given the responsibility of the former commerce minister Tipu Munshi in the current state of the market.

When inquired about the new state minister, Hafiz, a tea shop owner in Banglamotor, said that he used to support a family of five with ease through the tea shop. However, the increase in prices has affected sales, leading to a decrease in income. 

Hafiz expressed the hope that the new state minister would ensure stability in the prices of goods, bringing happiness to the people.

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