Staff Reporter<:/strong>
Commerce Minister Khandker Abdul Muktadir yesterday said that the government has not yet made any decision to increase the price of edible oil, emphasizing that the top priority is to prevent price hikes amidst global instability.
“Our first priority is to ensure that the price of any product does not increase during this period when people are already concerned about global situations and conflicts. The government regularly monitors the import and supply of edible oil because it is a sensitive commodity,” he said.
The minister made the remarks while talking to reporters after a review meeting on the country’s edible oil supply situation with business leaders held at the Ministry of Commerce conference room in the city, said a press release.
Highlighting the sensitivity of the market, the minister explained that edible oil price volatility directly impacts the common people.
He urged the business leaders to act responsibly, noting that the government is deeply monitoring the prevailing global condition, specifically the uncertainties in energy and supply chains caused by the situation in the Middle East.
During the meeting, business leaders raised concerns regarding rising import costs and supply chain challenges.
In response, the minister assured that the government would reach a realistic and acceptable decision within the next one or two days to ensure the supply chain remains uninterrupted.
He emphasized that the government is striving to create a comfortable environment for traders.
He acknowledged that maintaining the financial sustainability of importers is crucial, as the exit of any businessman from the market due to losses would have a negative impact on national supply.
The minister called on stakeholders to have confidence in the government’s efforts, stating that the administration is working as a team to keep the market stable despite various limitations.
The meeting was attended by senior officials, including Additional Secretary (Export) of the Ministry of Commerce Abdur Rahim Khan, and representative leaders from the edible oil sector.
