A handful of people stole wealth equivalent to 1.5 years of national income: Commerce advisor

A small group of individuals has stolen an amount equivalent to the entire nation's income for 1.5 years, said Commerce Adviser Sk Bashir Uddin. 

He made the statement while speaking as chief guest at the "ERF-Pran Media Award 2024" ceremony, held at the Economic Reporters' Forum (ERF) auditorium in Dhaka today (9 December).  

Citing findings from the National White Paper Committee, Bashir said nearly Tk28 lakh crore had been laundered out of the country over the past 15 years. 

"This staggering theft was orchestrated by only a handful of people, at the expense of the nation's institutions," he remarked, adding, "For such monumental corruption, many institutions were destroyed."  

For example, Bashir pointed to the Trading Corporation of Bangladesh (TCB), which operates with only 142 staff members across 16 nationwide offices. 

"Despite this meagre capacity, the TCB is allocated Tk11,500 crore annually, with Tk4,500 crore as subsidies. This opens the door for significant irregularities in beneficiary selection and dealer appointments," he said.  

He said, out of one crore families, 56-57 lakh cards have been prepared, and the rest will be completed within the next 4-6 weeks. At the same time, the complications regarding dealers will also be resolved, said Bashir. 

"For this, I will personally visit several areas to see who the actual beneficiaries of these cards are. We are working swiftly to ensure justice so that the real beneficiaries receive this assistance," he said.

The commerce adviser said like all other institutions in the country, agricultural sector organisations have also been destroyed. "Due to inconsistencies in the data provided by these organisations, we face challenges when making decisions on various matters. Therefore, reforming these institutions is essential."

Bashir said, "We increased oil prices considering the reality. If we hadn't, there would have been a significant crisis in the market, and the shortage of goods would have worsened." 

He added, "There is a lot of talk about syndicates. In the oil and sugar market, there are only a handful of producers or importers. Among them, the largest one has fled the country. This person used to control a significant portion of the market. 

"Although their departure has caused a supply deficit, the market impact isn't as noticeable as expected. We are working tirelessly day and night."

On market conditions, the commerce adviser acknowledged issues with commodity pricing but expressed optimism for the coming Ramadan. 

"We are working tirelessly to ensure food market stability. We expect prices to stabilise or decline during Ramadan, with adequate supplies of dates, chickpeas, lentils, and other essentials," he said while admitting some setbacks in potato market management.  

Addressing broader pricing concerns, Bashir said, "We don't want the government to fix prices artificially. Instead, we aim to build a system ensuring regular supply and market competition, where prices are determined naturally." 

He mentioned efforts to strengthen the Competition Commission and the Directorate of National Consumer Rights Protection to achieve this goal.

Addressing as guest of honour, Ahsan Khan Chowdhury, chairman of Pran-RFL Group, said, "Our land is limited, so our current focus is on producing value-added products. For example, Russia and Ukraine can produce grains because they have the land. Since our land is limited, we need to focus on value-added grain production like Thailand and Vietnam." 

He added, "Alongside increasing the production of items such as eggs, poultry, and fish, we must also ensure these products are readily available by boosting the supply of their feed."

In his speech as special guest, Chief Adviser's Press Secretary Shafiqul Alam said, "The market is currently on a downward trend. However, we do not see that reflection in the reports. Everything is often generalised in the discussions."

Winners of the ERF-Pran Media Award  

The ERF-Pran Media Award was presented in three categories. Among them, five journalists were awarded in the print category, two in the online category, and three in the television category.

In the print category, the first prize was jointly won by Ziadul Islam, senior reporter of Amader Shomoy, and Alamgir Hossain, business editor of Shomoyer Alo. The second prize was jointly awarded to Jasim Uddin Haroon and FHM Humayun Kabir, both special correspondents of The Financial Express. The third prize went to Sahanawar Sayeed Shaheen, senior reporter of Kaler Kantho.

In the online category, the first prize was won by Ibrahim Hussain Ovi, chief reporter of Jagonews24.com, and the second prize went to Mizanur Rahman Chowdhury, senior reporter of Jugantor.

In the television category, the first prize was awarded to Touhid Hossain Papon, senior reporter of Jamuna Television, while the second prize was jointly won by Touhidur Rahman, senior reporter of Ekushey Television, and Haripada Saha, senior reporter of Independent Television.