OMS of sugar in Dhaka from tomorrow
Star Report
As sugar price continues to rise hitting Tk 62 per kilogram, the government yesterday decided to sell a ton of sugar daily in each of the 90 wards in Dhaka city from tomorrow in a bid to stabilise the market. Ward commissioners will supervise the open market sale (OMS) of sugar at Tk 41 per kilogram in their respective areas and report to the commerce ministry as there are allegations against the Trading Corporation of Bangladesh (TCB) officials that they are not carrying out their duties properly, ministry sources said. The OMS will also be expanded to all the divisional headquarters. "Sugar price is going up everyday and we are worried about it," Barkat Ullah Bulu, adviser to the commerce ministry, told newsmen after a meeting at the ministry. The government will take stern actions against those who are involved in hoarding, the adviser warned adding, if necessary Rapid Action Battalion (Rab) might also be deployed to prevent market manipulation. Bulu said engaging ward commissioners in OMS operation does not mean that it will be politicised. "Whether the commissioners represent Awami League, BNP or Jatiya Party will not be considered." Commerce Minister Altaf Hossain Choudhury, Md Barkat Ullah Bulu and other commerce ministry officials yesterday held several meetings with dealers and importers to find ways to stabilise the market. Blaming rising price of sugar on the international market and a scarcity of supply for the volatility in the domestic market, the adviser to the commerce ministry said sugar price on the global market has gone up to over US$ 520 per metric ton from less than $180 a few months ago. The ministry will convene an inter-ministerial meeting shortly to decide whether tax on sugar import will be cut to ease the market, which now stands at 73 per cent, he said. Bulu said the country has become almost totally dependent on imported sugar as local production has come down to only 1.25 lakh metric tons against an annual demand of 12.5 lakh metric tons. The government has already ordered to import 25,000 metric tons of sugar and is going to invite bids again to buy another 15,000 metric tons, he said. Sale of sugar through the dealers of Bangladesh Sugar and Food Industries Corporation (BSFIC) will be stopped as there are also allegations that the dealers are selling it at much higher rates on wholesale markets than the government's fixed price. The factory rate of sugar per kilogram is Tk 35 and the dealers are supposed to make Tk 1 profit per kilogram after all necessary expenditures.
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