Bizdata Insights Main Logo

BizData Insights

Government to control dishonest traders

Industry: Commodity, Consumer & Retail

Commerce Minister said that some local traders are manipulating commodity prices to take advantage of market vulnerabilities, in addition to the influence of the global commodity market. He made these comments at the inauguration of the Trading Corporation of Bangladesh’s (TCB) product sales programme for May in Badda area of the capital city on Sunday. The Minister added that both international and domestic factors are at play every time the price of a product increases in the market, and the government is doing everything possible to tackle the situation.

He also acknowledged that some people try to take advantage of situations but said that the government is addressing the issue through the consumer rights body. He mentioned the recent sugar price hike, saying that the international price of sugar has increased in the last 15 days. Regarding TCB cards, he hoped that 75% of the programme will be digitized in the next six months. This month, TCB is offering one kg of sugar, two kg of lentils, and two litres of soybean oil to each cardholder at a reasonable price.

Source for more details:

Related News

Transcom Group Faces Turmoil Amid Tk10,000 Crore Dispute

February 24, 2024

A once-respected conglomerate, Transcom Group, faces internal turmoil after the passing of founder Latifur Rahman. Second-generation heirs, in a dispute over wealth distribution, accuse the current chairman and CEO of fraud and breach of trust, allegedly depriving them of their rightful share of the Tk10,000 crore family wealth.

Govt Reverses 14% Sugar Price Hike Decision

February 24, 2024

The Ministry of Industries initially decided to raise state-run sugar mill prices, but later reversed the decision due to public concern. The Bangladesh Sugar and Food Industries Corporation (BSFIC) had increased retail sugar prices by 14%, reaching Tk 160 per kilogram, prompting the government's reconsideration.

50 Tonnes of Coconuts Imported from India for the First Time

February 24, 2024

Bangladesh imported 50 tonnes of coconuts from India for the first time via the Hili land port in Dinajpur. The consignment, originating from Tamil Nadu, arrived in two trucks, marking a significant event in local trade. The imported coconuts, priced at $250 per tonne, were brought in by local business organization "M/S Nasat Traders" to meet high demand in the domestic market.

50,000 Tonnes of Onions Will be Exported from India

February 24, 2024

India has lifted its ban on onion exports, allowing the immediate export of specific quantities to various countries. A total of 50,000 tonnes will be exported to Bangladesh, 1,200 tonnes to Mauritius, 3,000 tonnes to Bahrain, and 560 tonnes to Bhutan. This decision, effective until March 31, follows a recommendation from the External Affairs Ministry.

BSEC Appoints Directors to Meghna Pet Industries

February 22, 2024

The Bangladesh Securities and Exchange Commission (BSEC) appointed four independent directors to Meghna Pet Industries Limited, which has been closed for years, to safeguard investor interests. The appointments comply with a directive requiring sponsor-directors to jointly hold 30% shareholding.

Lily Launches Paraben Free Shampoo

February 22, 2024

A personal care brand, Lily, launches paraben-free products: Lily Soothing Gel and Lily SilkCore Shampoo variants to mitigate health risks. Manufactured by Remark LLC's affiliate in the USA, these products undergo dermatological tests and are free from parabens, lead, benzophene, arsenic, cadmium, and mercury.

Related News

Transcom Group Faces Turmoil Amid Tk10,000 Crore Dispute

February 24, 2024

A once-respected conglomerate, Transcom Group, faces internal turmoil after the passing of founder Latifur Rahman. Second-generation heirs, in a dispute over wealth distribution, accuse the current chairman and CEO of fraud and breach of trust, allegedly depriving them of their rightful share of the Tk10,000 crore family wealth.

Govt Reverses 14% Sugar Price Hike Decision

February 24, 2024

The Ministry of Industries initially decided to raise state-run sugar mill prices, but later reversed the decision due to public concern. The Bangladesh Sugar and Food Industries Corporation (BSFIC) had increased retail sugar prices by 14%, reaching Tk 160 per kilogram, prompting the government's reconsideration.

50 Tonnes of Coconuts Imported from India for the First Time

February 24, 2024

Bangladesh imported 50 tonnes of coconuts from India for the first time via the Hili land port in Dinajpur. The consignment, originating from Tamil Nadu, arrived in two trucks, marking a significant event in local trade. The imported coconuts, priced at $250 per tonne, were brought in by local business organization "M/S Nasat Traders" to meet high demand in the domestic market.

50,000 Tonnes of Onions Will be Exported from India

February 24, 2024

India has lifted its ban on onion exports, allowing the immediate export of specific quantities to various countries. A total of 50,000 tonnes will be exported to Bangladesh, 1,200 tonnes to Mauritius, 3,000 tonnes to Bahrain, and 560 tonnes to Bhutan. This decision, effective until March 31, follows a recommendation from the External Affairs Ministry.

BSEC Appoints Directors to Meghna Pet Industries

February 22, 2024

The Bangladesh Securities and Exchange Commission (BSEC) appointed four independent directors to Meghna Pet Industries Limited, which has been closed for years, to safeguard investor interests. The appointments comply with a directive requiring sponsor-directors to jointly hold 30% shareholding.

Lily Launches Paraben Free Shampoo

February 22, 2024

A personal care brand, Lily, launches paraben-free products: Lily Soothing Gel and Lily SilkCore Shampoo variants to mitigate health risks. Manufactured by Remark LLC's affiliate in the USA, these products undergo dermatological tests and are free from parabens, lead, benzophene, arsenic, cadmium, and mercury.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here