Thursday, 2 February, 2023

LCs under scanner to check money laundering: Tipu Munshi

Commerce minister Tipu Munshi on Sunday said his ministry will soon form a committee to strengthen monitoring and vigilance to check soaring prices of essential commodities.

Bangladesh Bank will also form a crisis management committee to monitor the market and supervise the import of goods, the minister said.

He was talking to reporters after a meeting with the representatives of the chamber and trade bodies at the Secretariat in Dhaka.

Munshi said both committees will monitor the stock, supply and import of some basic commodities so that consumers can buy at an affordable price during upcoming Ramadan.

Replying to a query commerce minister said the government will not hold the LCs which quotes the real price of imported items.

The commerce ministry, the central bank and National Board of Revenue (NBR) are working jointly to check money laundering through manipulation of the export income and import costs, Munshi said.