The prices of essentials have increased not only in Bangladesh but also in other countries of the world due to the ongoing global situation, Local Government and Rural Development Minister Md Tajul Islam said on Friday.
The minister said, apart from Bangladesh, commodity prices have risen in almost all countries including India, China, England, and Singapore.
He was talking to reporters after the Bangladesh Youth Cadet Forum (BYCF) Ex-Cadet Camp-2022 at the proposed Sheikh Kamal Krira Palli in Comilla.
The minister said production in many industries has declined due to the Covid pandemic. “Communications were halted and fuel prices rose to record levels.”
Besides, the Russia-Ukraine war has affected the global market, he added.
“The government is trying to control the prices of essential commodities for the people of the country,” said the minister.
Tajul said: “It is not possible to reduce the price of all products suddenly even if you want to.
“Even then, the government is trying to keep the prices of daily necessities within the reach of the people.”
He mentioned that the government has decided to reduce VAT on imported essentials so that people can buy the items at lower prices.
The minister said: “The purchasing power of the people and the per capita income have increased. So, the demand for products has also increased, so has the impact on prices.”
He also blamed rising production cost for the higher prices of products.
Comilla City Corporation Mayor Md Monirul Islam Sakku, Deputy Commissioner Mohammad Kamrul Hasan, Superintendent of Police Faruk Ahmed PPM (Bar), and Adarsha Sadar Upazila Chairman Advocate Aminul Islam Tutul were present at the event among others.
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