CHATTOGRAM: Commerce Minister Tipu Munshi said that sale of edible oil by the state-run Trading Corporation of Bangladesh (TCB) at subsidised price will continue despite fixing soybean and palm oil price.
The government of Wednesday fixed edible oil prices after adjusting them with the international market prices that increased sharply recently.He said this while talking to the journalists after inaugurating the ‘Bangabandhu Memorial Gallery’ and ‘Bangabandhu Corner’ at Bangladesh Tea Board headquarters in the city’s Nasirabad area on Thursday. The minister said there is a committee comprising businessmen under the ministry to fix the prices of edible oil, adding that the committee fixed the prices after analysing all the data.
The price of oil rose 67 percent following an increase to $1,100 from the $700 in the international market, he said.
The committee has to depend on international market for fixing the price as 90 per cent of oil is imported from abroad, said the minister.
In reply to a question regarding commodity price in the upcoming Ramadan, Minister Tipu said that TCB and traders have sufficient stocks of commodities including oil, onion, sugar and date for the holy month.
The prices will be kept in reasonable level, he assured.
While inaugurating the Bangabandhu Corner, the minister said Bangabandhu’s joining in Tea Board was declared as ‘Tea Day’ and the father of the nation was the first Bengalee who held the position of chairman of the board.Bangladesh Tea Board Chairman Major General Md Jahirul Islam presided over the programme while the Commerce Secretary Md Jafar Uddin, Additional Secretary Md Hafizur Rahman, Tea Board Member Md Nurul Alam Chowdhury, Dr Naznin Kauser Chowdhury and Joint Secretary Abdur Rahim Khan were present at the programme, among others.