Govt to stock 77,650 mts sugar for Ramadan

July 27, 2010

The government has decided to build up a stock of 77,650.50 metric tonnes of sugar to keep its price at an affordable level during the holy month of Ramadan.

“We have taken a decision to buy 25,000 mts of sugar from the international market and 10,000 mts from local markets,” Industries Minister Dilip Barua said during a press conference at his ministry Tuesday.

He said the BSFIC (Bangladesh Sugar and Food Industries Corporation) has already stocked 42,650.50 mts of sugar to keep the price stable during Ramadan.

The minister said price of sugar has been reduced by Tk 2 per kg by the BSFIC and the price has now been fixed at Tk 43 at mill gate from Tuesday, considering the additional use of sugar during the Ramadan.

Dilip Barua said according to Bangladesh Bank, the private sector has imported adequate quantity of sugar this year. Some 120,763 mts of raw sugar was imported up to July this year.

“We hope the price of sugar will remain stable during Ramadan as the government has taken a timely decision to reduce sugar price by Tk 2 per kg,” he said.

About the retail price of sugar, the minister said the deputy commissioners will fix the retail price. “We expect consumers will be able to buy sugar at Tk 45 per kg during the Ramadan.”

He said there are 45,000 dealers across the country and the government will distribute sugar through these dealers.

Referring to dishonest businessmen, Dilip Barua said: “We have some psychological problems. A quarter of greedy and dishonest businessmen take advantage of the situation in Ramadan by increasing the prices of essentials on the eve of religious festivals and this is very unfortunate for us.”

He vowed to take stern action against the traders who will be involved in increasing the prices of essentials to cause misery to public life.

Source:The Daily Star

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