We have to bear the price hike considering the situation: Minister

Commerce Minister Tipu Munshi has said the prices of daily essential products in the country have not increased much considering the global situation.

He said: “But, common people are suffering in this too. We have to bear it considering the situation. At the same time, we all have to work to deal with the global recession."

He said this while talking to reporters at Circuit House in the city on Friday.

Tipu Munshi said the government is ready to face the global recession.

“Prime Minister Sheikh Hasina has ordered that not even an inch of land should remain fallow in the country. Global recession will be mitigated by increasing food production in the country,” he said.

“Besides, the government is reducing, cutting or postponing spending in those sectors where it is possible. We may face problems due to the global recession. This danger must be faced by all together,” Tipu said.

Regarding the price of edible oil, the Minister said although the price of edible oil has been reduced in the country, some unscrupulous traders are taking advantage and selling at higher prices.

“Strict actions will be taken against unscrupulous traders who tamper with edible oil prices. The Department of National Consumer Rights Protection is already working for market monitoring,” he said.

The Minister said the price of edible oil has fallen in the world market. The Tariff Commission has fixed the price of edible oil by taking into account the price of oil in the global market and the value of US dollar in the country.  

Rangpur Deputy Commissioner Md. Asif Ahasan, District Superintendent of Police Md. Ferdous Ali Chowdhury, Rangpur Metropolitan Chamber President Rezaul Islam Milon and local Awami League leaders and activists were present.