Chief Adviser’s Press Secretary Shafiqul Alam has said commodity prices are now at a tolerable level due to coordinated efforts.
“I believe this has been a collective effort. As a result, prices have stabilized. We are trying to keep the market steady. With Eid approaching, we aim to maintain the current price levels,” Shafiqul said during a briefing at the Foreign Service Academy in the capital on Sunday, reports Bangla Tribune.
He added: “Since October, the chief adviser has been instructing his entire cabinet to prepare for this issue. Since then, a series of meetings have been held with major importers in Bangladesh. Commerce Adviser Sk Bashir Uddin was given a special responsibility to ensure that no market instability occurred during Ramadan. Additionally, we have continuously monitored international market prices and explored ways to increase supply.
"We have also assessed taxes on certain products and reduced them where necessary. For example, after reducing taxes, the price of dates dropped significantly. Similar measures were taken for rice and edible oil, leading to increased imports and price stabilization at the retail level.”
Shafiqul continued: “Another key aspect was ensuring that the supply of agricultural products from farmers to urban markets remained uninterrupted. Authorities repeatedly instructed the police to minimize extortion on roads. Moreover, we maintained close communication with major suppliers. Bangladesh Bank also took steps to prevent any complaints about dollar shortages for imports.
"Under the previous government, obtaining dollars for Letters of Credit (LCs) was a significant challenge. We have ensured an adequate dollar supply while maintaining foreign exchange reserves. Importers have not reported any issues regarding this matter.”
Auxiliary forces for law enforcement
Regarding the auxiliary force for law enforcement, he said: “This initiative is aimed at improving security within gated communities (residential neighborhoods). Security guards in these communities will have a designated senior or chief who will be authorized to act as a police officer, including making arrests. They will receive certification, enabling them to act as a deterrent.
"We believe this will enhance law and order in gated communities. We will continuously monitor this system.”
He added: “Many major cities worldwide have similar systems. Governments do not manage everything in other countries either. That is why they maintain relationships with private security firms. We consider this a positive initiative to improve urban law and order.”
Gas supply to industries
Addressing the gas supply to industries, he said: “We are working to ensure an adequate gas supply. We are discussing adjustments in line with international gas prices. The interim government is making every effort to ensure that gas reaches every household and industrial facility. To enhance supply, we are set to sign an agreement with Gazprom to drill five new wells. Additionally, we are considering agreements to import LNG and are in discussions with global petroleum giant Aramco.
"Efforts are being made to increase gas procurement from the spot market. A preliminary agreement has also been reached with a US company, and local gas exploration activities are being expedited. We are optimistic that the gas-related issues will soon be resolved.”
Reforms
Responding to another question, he said: “The reform process originated here, and the interim government is maintaining full transparency. Six commissions have been formed, and they have submitted their reports. A consensus commission has been established, consisting of the heads of these commissions. They have already held one meeting, with more to follow. These commissions will consult with political parties. The entire process is homegrown."
"However, some of our international allies and well-wishers have expressed their support. In certain cases, technical assistance may be required, and they have offered help. We have not yet decided whether to accept it. However, we expect that the entire reform process will remain homegrown,” he added.
