In order to bring the local onion market under control, the Ministry of Commerce has decided to sell onions at affordable prices through the government marketing agency Trading Corporation of Bangladesh (TCB).
It also decided to re-fix the tariff on the request of onion importers.
The news of rising onion prices in India has led to instability in onion prices in Bangladesh. In just three days, the price of onion has shot up by 30 taka per kg.
In light of this, a meeting was called on Sunday (September 6) to discuss the ongoing trade and commerce situation of the country amid coronavirus pandemic.
According to a press release issued on Monday, the decisions were taken at the meeting of Commerce Ministry's Task Force Committee at the ministry's conference room in the Secretariat.
The meeting further discussed in detail the stock, supply and price situation of other essential commodities and decided to strengthen market monitoring across the country.
The meeting concluded that the country has adequate onion stocks and imports are normal and there is no compelling reason for onion crisis or price rise.
In the meeting, committee secretary Dr Md Zafar Uddin said the government will take strict action as per the law if any attempt is made to increase the price of onion through illegal stockpiling or artificial crisis.
He said the monitoring team of the Ministry of Commerce and the National Consumer Rights Protection Directorate under the Ministry of Commerce have further strengthened market monitoring.
To keep the supply and price of onions normal, TCB under the Ministry of Commerce will immediately start selling onions at affordable prices through truck sales in the open market and will continue to do so until new onions come on the market, he also said.
In addition, the Secretary also said, “It was decided to send a letter to the National Board of Revenue and the Ministry of Agriculture regarding quarantine for rescheduling of tariffs on the request of onion importers.”
The Task Force Committee meeting was chaired by the Committee President and Commerce Secretary Md Zafar Uddin. Additional Secretary of the Ministry of Commerce (Exports) was present at the meeting along with Obaidul Azam, Additional Secretary (Import), Hafizur Rahman, Director General of the National Consumer Rights Protection Department Bablu Kumar Saha, Chairman of TCB Brigadier General Md Task Force Committee members including Ariful Hasan also attended the meeting.
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