Tipu hints at cutting oil prices

Commerce Minister Tipu Munshi on Saturday said that the price of edible oil may come down again in the country in October as the price of the essential item has dropped on the global market.

“The prices of different commodities, including edible oil, have reduced on the international market. But, we cannot avail of the opportunity due to the increased rate of the American greenback,” he said while exchanging views with the reporters at his Rangpur residence.

“But the good news is that we will soon sit with the Bangladesh Trade and Tariff Commission and take steps to adjust the oil prices.” The minister said that if the dollar rate is settled, the prices of the essentials would decline in the local market.

‘PM’s India visit a big success’

Prime Minister Sheikh Hasina’s visit to India has become a big success, he said adding: “Indian business people showed interest in huge investments in Bangladesh.” Indian businesspeople wanted to expand trade and commerce between the two neighbouring countries. They inclined to invest in the power, transport, and agro-processing sectors of the country, said the minister.

“The leading integrated business conglomerate Adani Group showed interested to invest around Tk 4.5 thousand crores in Bangladesh,” he said. A total of one crore vulnerable families have been brought under TCB which distributes rice among them at a subsidized rate.