Pandemic, war responsible for price hike of essentials: minister

The prices of essential commodities have increased not only in Bangladesh but also in other countries of the world due to the ongoing global situation, said local government and rural development minister Md Tajul Islam on Friday.

The minister said that apart from Bangladesh, commodity prices had risen in almost all countries of the world, including India, China, England and Singapore.

He was talking to the reporters after the Bangladesh Youth Cadet Forum’s Ex-Cadet Camp-2022 at the proposed Sheikh Kamal Krira Palli in Cumilla.

The LGRD minister said that production in many industries had declined due to the Covid pandemic. ‘Communications were halted and fuel prices rose to record levels,’ he added.

Besides, the Russia-Ukraine war has affected the global market, he added.

‘The government was 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 if you want to.’

‘Even then, the government is trying to keep the prices of daily necessities within the reach of the people,’ said the minister, adding that the government had decided to reduce value added tax on imported essentials so that people could buy at lower prices.

He further said that the purchasing power of the people and the per capita income had also increased. ‘And so the demand for products has also increased, so has the impact on prices,’ he said.

He also mentioned that the prices of products were increasing due to increasing production cost.

Cumilla City Corporation mayor Md Monirul Islam Sakku, deputy commissioner Mohammad Kamrul Hasan, superintendent of police Faruk Ahmed and upazila chairman Aminul Islam Tutul were present at the event, among others.

News Courtesy:

https://www.newagebd.net/article/165097/pandemic-war-responsible-for-price-hike-of-essentials-minister