The government decided to increase subsidies for cooking oil and lentils instead of putting pressure on the low-income by hiking their prices.
Earlier, amid rising commodity prices due to the Ukraine-Russia war, the Trading Corporation of Bangladesh (TCB) had proposed hiking the prices of cooking oil and lentils before selling the products among 1 crore cardholding families.
Now, consumers will get soybean oil, lentils and sugar from TCB trucks before Eid-ul-Azha at prices similar to the Eid-ul-Fitr period.
To reduce the subsidy, the state-run agency had proposed an increase in the prices of soybean oil from Tk110 to Tk130 per litre, and lentils from Tk65 to Tk75 per kg.
TCB products will be sold across the country from June 22, with the agency completing sales among 1 crore family card-holders by July 5.
The TCB could not procure soybean oil on time even though it was supposed to sell it during June 16-30.
The corporation had told the Commerce Ministry that the prices of various essential commodities had also gone up in the domestic market due to the rise in prices in the international market.
As the difference between the current market price and the consumer price of TCB is huge, the amount of government subsidy has increased and the possibility of sales of TCB products illegally through dealers and consumers has become a threat. For this reason, it is necessary to set a new price in line with the market price, it added.
TCB will distribute oil, sugar and lentils at subsidized prices among one crore families before Eid-ul-Azha.
At present, a litre of bottled soybean oil costs Tk205, whereas TCB will sell it at Tk110.
However, before Eid-ul-Fitr, when TCB sold oil at Tk110 per litre, the purchase price of it for TCB was Tk168.
TCB will sell a kilogram of lentils at Tk65.
One kg of sugar is being sold at Tk85 in the market. But TCB will sell it at Tk55.
Before the forthcoming Eid-ul-Azha, two litres of soybean oil, 2 kg of lentils and 1 kg of sugar will be sold to each of one crore families.
As such, a family will be able to save Tk350 in buying these three products compared to the market prices.
According to TCB sources, the agency needs two crore litres of soybean oil, 20,000 tonnes of lentils and 10,000 tonnes of sugar to sell these products among one crore households.
