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Dhaka Tribune

Titu: No scope to hike prices of edible oil now

  • 'Consumer rights is top most priority of govt'
  • 'Working relentlessly to keep market price under control'

 

Update : 16 Apr 2024, 05:54 PM

State Minister for Commerce Ahsanul Islam Titu has said there is no scope for increasing the edible oil prices now, but these can be reviewed.

"When VAT was exempted, traders were given 15 days to implement the reduction in prices, so the new prices would be effective after the VAT-exempt goods arrived in the country. Now with the withdrawal of VAT exemption, there is no opportunity to increase the price instantly," he said.

The state minister said this while speaking at a "Meet the Reporters" event organized by the Dhaka Reporters Unity (DRU) at its auditorium in the city on Tuesday.

With DRU President Syed Sukur Ali Shuvo in the chair, the event was moderated by its General Secretary Mohiuddin Ahmed.

Titu said ensuring consumer rights is the top most priority of the present government as it is a "public-friendly government".

"The present government is public-friendly. We are working to ensure consumer rights. We are also providing all sorts of support to the businessmen who are doing business ethically," he added.

In the next budget, Titu said, a proposal will be sent to the National Board of Revenue (NBR) to keep the tariff on common consumer products including
rice, lentil, oil and sugar at a reasonable level.

"It is not right to impose additional duty-tax beyond the reasonable limit on imported consumer goods and common people's daily necessities," he continued.

Titu, however, said the prices of commodities were under control during Ramadan and the countrymen celebrated Eid-ul-Fitr and Bangla New Year with
relief and enthusiasm.

"We are working relentlessly to keep the market price under control. We are not working for results or achievements, we are working in the interest of
the country and its people," he said.

The next few years are very important for Bangladesh, the state minister said, adding: "We want to take our trade to our desired goal."

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