• Thursday, Jan 28, 2021
  • Last Update : 02:16 pm

Tofail: Costly dollar to raise prices of essentials

  • Published at 11:37 pm April 27th, 2017
Tofail: Costly dollar to raise prices of essentials
Commerce Minister Tofail Ahmed said prices of imported essential commodities such as edible oil may increase due to hike of US dollar, affecting the living cost of people. “Prices of imported essential products such as edible oil will increase if the prices of US dollar went up. It will affect the living cost of consumers,” he told journalists after a meeting with Vietnam Ambassador to Bangladesh Tran Van Khoa on Thursday. “It is unfortunate, but true that the prices of US dollar has suddenly gone up ahead of Ramadan. However, the government has investigated the reason of sudden increase of price sand taken initiative to control the situation,” commerce minister said. “During the last two days, I talked to Bangladesh Bank governor. He has already taken effective measures. As a result, prices of a US dollar came down to Tk82 from TK84,” Tofail said. He hoped the dollar rate against Taka would came down bellow Tk80 shortly. As of on Thursday, according to Bangladesh Bank, US dollar was sold at Tk80.13, which was also sold at Tk84 at money exchange and at Tk86 in the curb markets. “Protection of consumers rights is our duty. That is why the commerce ministry will sit with the country’s business people including retailers on April 30 to discuss the issues so the prices of essential products do not increase,” Tofail said. The minsters smelt rat that it could be that some of the bank increased the prices of dollars when other banks buy from a certain bank as it doesn’t have enough supply. Bangladesh has over $32bn worth of foreign exchange reserves. It would not bring negative impact on the economy, if the central bank provides $200m to the banks, commerce minister Ahmed. He argued that if the central bank provides US dollar to the certain bank, there is no chance for price hike. “I hope that the prices of US dollar will be normal soon as Bangladesh Bank has already provided US dollar to the banks.” Replying to a question, Tofail Ahmed said the prices of rice would not increase further as “there is enough stock”. But the prices of rice increased slightly due to the government purchase announcement, which is offering Tk1.5 higher compared to that of the previous year. Meanwhile,  Tran Van Khoa urged the Bangladesh government to renew deals that already expired to reduce trade gap between Bangladesh and Vietnam. According to the Bangladesh Bank data, bilateral trade between Bangladesh and Vietnam stood at $452m as of fiscal year 2015-16. Bangladesh exported goods of $65m and imported products worth $387m.
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail