Prime Minister Sheikh Hasina Tuesday asked the authorities concerned to strengthen the market monitoring system to control inflation, especially the uptrend of the price of essentials in the country.
The prime minister gave the directive while chairing a meeting of the Executive Committee of the National Economic Council (ECNEC) virtually from her official residence Ganabhaban in Dhaka.
Ministers, state ministers, Planning Commission members and secretaries concerned attended the meeting from the NEC conference room in the city's Sher-e-Bangla Nagar area.
ALSO READ — Inflation climbs to 9.52% in Aug, drops to 9.10% in Sept
Briefing reporters after the meeting, Planning Minister MA Mannan said that the prime minister has directed the authorities concerned to strengthen the market monitoring system to control the price of commodities in the country in the wake of the global economic context.
"Market can be controlled through executive steps and policy steps while we've also undertaken some steps like withdrawing VAT on some essential items alongside reducing the import duty. The government officials concerned are talking with the businessmen on regular basis. Besides, drives are also being conducted when it deems necessary."
The planning minister informed that one crore families are being provided with foodstuffs at less prices benefitting some four crore people. Due to such overall steps, the price of essential items like rice and edible oil has come down.
Revealing the monthly consumer price index, Mannan informed that the general point-to-point inflation in August stood at 9.52 percentage points which later came down to 9.10 percentage points in September.
He said Bangladesh is still now in a better position compared to other countries of the world in terms of tackling inflation as it is now hovering over 10 per cent in the UK while around 10 per cent in the United States.
State Minister for Planning Shamsul Alam said that the general point-to-point food inflation in India was around 10 per cent and compared to that Bangladesh was in a better position.
