6,573 establishments fined Tk 3.94cr in 3 months

AS part of the government's efforts to stabilize prices of commodities, the Directorate of National Consumer Rights Protection (DNCRP), under the Ministry of Commerce, fined a total of 6573 business establishments' worth around Taka 3.94 crore across the country over the last three months due to various irregularities.

After assuming office, the interim government, led by Nobel Laureate Professor Dr Muhammad Yunus, has taken a series of measures to bring down the prices of essential commodities to give respite to the commoners.

As part of the initiatives, commerce ministry officials said the ministry has formed a "special taskforce" to monitor and review the market situation and supply chain of essentials at the district level.

Concerned Additional Deputy Commissioner is the convener of this special taskforce, while DNCRP Assistant Director is the member secretary.

Additional Superintendent of Police, District Food Controller or appropriate representative, District Livestock Officer or appropriate representative, District Fisheries Officer or appropriate representative, Agriculture Marketing Officer or Senior Agricultural Marketing Officer, Consumers Association of Bangladesh (CAB) representative and two student representatives are members of the taskforce.

The taskforce members are regularly visiting different markets, large warehouses, godowns or cold storages and other places of the supply chain, and also monitoring the issue of keeping the prices of essential commodities at a reasonable level.

The taskforce is also ensuring that weather the price difference between production, wholesale and consumer levels remain at a minimum level.

Besides, under the recommendation of the Ministry of Commerce, the National Board of Revenue (NBR) has waived the 5.0 per cent regulatory duty on onion imports, reduced customs duty from 25 per cent to 15 per cent for import of potatoes, and set a 5.0 per cent customs duty on pesticide imports to control rising prices in the local market.

The revenue authority has also waived the value-added tax (VAT) on local production and trading stages of soybean oil, palm oil, and other edible oils.

The NBR has also reduced the VAT on imports of crude and refined soybean oil, palm oil, and other edible oils to 10 percent from the existing 15 percent.
The authority has also cut import duty on eggs from existing 25 percent to 5 percent to increase the supply of eggs in the market and reduce the price of eggs at consumer level.

Meanwhile, the state-run Trading Corporation of Bangladesh (TCB) is selling commodities including rice at subsidized rates through truck sale among the common consumers.

Under this move, each consumer can buy maximum 2 liters of edible oil at Taka 100 per liter, 2 kgs of lentil at Taka 60 per kg and 5 kgs of rice at Taka 30 per kg.

The TCB is also selling essential goods at fair prices for ready-made garment (RMG) workers.

The TCB has also taken necessary preparations ahead of the Holy Month of Ramadan through importing commodities as well as local procurement of items.

As part of its huge activities, the TCB would sell some 20,000 metric tons of lentil, 2 crore liters of edible oil and 10,000 metric tons of sugar every month alongside selling onion and potatoes across the country through imports under the directives of the Ministry of Commerce.

Apart from this, the TCB would sale 10,000 metric tons of chickpeas and 1,500 metric tons of dates during the Holy Month of Ramadan.