Industries Minister Nurul Majid Mahmud Humayun has underscored the urgent need for political commitment to control the rising commodity prices in the country.
Ensuring price control is a priority for the government in the run-up to the upcoming national election, he said while addressing a debate competition on the responsibility of businessmen to ensure consumer rights at Bangladesh Film Development Corporation in Dhaka on Monday.
“The prices of goods are becoming unbearable for the working, middle and lower classes. While our remittance warriors are sending foreign currency to the country, there is a class of people looting the country's money and making homes and buying cars in the US and Canada,” he said.
”Initiatives can be taken to accolade the Directorate of National Consumers' Right Protection (DNCRP), just like awards are given to poets, writers, journalists and filmmakers, for working tirelessly to control commodity prices,” he added.
The debate competition was jointly organised by DNCRP and Debate for Democracy. Debate for Democracy Chairman Hasan Ahmed Chowdhury Kiran presided over the event.
Kiran said that it was necessary to quickly amend and update the existing Consumers’ Right Protection Act.
To keep the prices under control, competitiveness should be maintained for importing while keeping VATs and tax-tolerant. Meanwhile, the import of industrial raw materials has been disrupted due to the dollar crisis and declining reserves, resulting in a shortfall in production, he said.
“If an immediate decision regarding import of commodities is not taken and implemented, consumers will suffer more when the shortage in supply hits against the demand,” he added.
