Govt working to stabilise market, ensuring stability for Ramadan: Industries minister
To address the challenges faced by sugar mills and the high cost of production, the government has embarked on a multi-faceted approach, including the modernisation of sugar mills and promoting the processing of other crops like fruits
The government is actively working to stabilise the market to ease hardships of consumers during the upcoming month of Ramadan, Industries Minister Nurul Majid Mahmud Humayun told the Parliament today (25 February).
The statement was made in response to a question from Awami League MP Mahfuzur Rahman Mita, elected from Chattogram.
Acknowledging the current market instability, Humayun attributed the volatility to various global factors and emphasised maintaining stability during Ramadan.
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Highlighting Bangladesh's reliance on imported sugar and the existence of 17 sugar mills in the country, the minister pointed out the challenges in sugarcane production, which requires years of cultivation.
He emphasised the need for mechanical advancements and a shift in agricultural practices to ensure the sustainability of sugar production.
To address the challenges faced by sugar mills and the high cost of production, the government has embarked on a multi-faceted approach, including the modernisation of sugar mills and promoting the processing of other crops like fruits.
Humayun also said the government has already signed contracts, and foreign investors and local entrepreneurs are showing a keen interest in these initiatives.
He highlighted the challenges of competing with private manufacturers who import raw materials, and the high cost of production in domestic mills.
The minister expressed confidence in the government's new strategies to make sugar mills more efficient and realistic.
