Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin on Monday urged the government to not impose VAT on edible oils for the next three months to control the market.
He also called upon traders to sell oils at fixed prices which are set by the government.
"If prices of oils increases in global market, it will have an impact in our country at least two months later. Why do the prices in Bangladesh go up on the same day as in the international market," Jashim questioned at a meeting with leaders of different organisations engaged in the oil business at FBCCI auditorium.
The apex trade body president also said they will form a market monitoring cell soon to adjust prices here.
Jashim said, "After talking to the different stakeholders, we understood that there will be no crisis in the oil market in the country up to Holy Ramadan."
Stern action will be taken against people who sell retail loose oil much higher than its fixed price.
Bangladesh Dokan Malik Samity president Md Helal Uddin urged the commerce ministry to fix the oil price rate after 15 days to control the market.
President of Bangladesh Paikary Vojjaya Tel Babosayee Samity, the association of edible-oil wholesalers, Golam Mawla urged the group of companies who involve in the oil business to supply oils properly in the market.
