State minister for commerce Ahsanul Islam Titu on Saturday said that the government was working to create a buffer stock covering 20 per cent of the demand for essential commodities with the aim of ensuring price stability.
At a press conference held at the Trading Corporation of Bangladesh auditorium in the capital Dhaka, the state minister said that the government had opened import permission for potatoes and onions as the prices of the items went up in the country.
The TCB organised the press conference on the National Export Trophy giving ceremony which will be held today.
鈥榃e have an intention to create a buffer stock covering 20 per cent of the demand for essential commodities so that no one can increase the prices of essentials as per their own will,鈥� Ahsanul said.
He said that the construction of warehouses was underway.
The state minister said that the government had taken initiatives to import onions from India and the item would arrive soon.
Regarding soaring prices of vegetables, he said that floods in 18 districts damaged farmlands, resulting in a supply disruption across the country.
鈥楾he excessive price hike of vegetables is temporary,鈥� Ahsanul said.
Recently, the price of onions has surged to Tk聽110-120 a kilogram while that of potatoes increased to Tk聽65-70 a kilogram on the kitchen markets in the capital Dhaka.
At the press conference, Ahsanul said that prime minister Sheikh Hasina would distribute
the National Export Trophy 2021-22 to 77 companies today.
The award giving ceremony will be held at the Osmani Memorial Auditorium in Dhaka.
Out of 22 entities, Rifat Garments Ltd would receive the highest award 鈥楤angabandhu Sheikh Mujib Export Trophy鈥� while 28 companies would receive gold trophy, 27 silver trophy and 21 would receive bronze trophy.
Regarding the export data mismatch, the state minister said that the Export Promotion Bureau just published export figures on a monthly basis and its source of data was the National Board of Revenue.
To avoid any inconsistencies in the export data, the statistics department under the commerce ministry will collect primary data directly from exporters and their respective trade bodies, he said.
Ahsanul said that the EPB would create a database by collecting gross export data directly from exporters, the NBR and the Bangladesh Bank.
According to the state minister, there are differences over the classification of exports between the EPB, the NBR and the BB, as a result, the export data reported by these entities would have some differences.
Commerce secretary Md Selim Uddin and EPB vice-chairman Md Anwar Hossain also spoke at the programme.