Courtesy: The Financial Express
Link to the news is here.
The market intelligence system, revived by commerce ministry after a gap of 16 years, has started monitoring the prices of essentials, official sources said on Tuesday.
Three intelligence teams, formed under the directive of the commerce ministry, have prepared working plans about the city's main wholesale hubs -- Moulvibazar, Babubazar, Karwanbazar and Shyambazar, they said.
Besides, three such teams, one each in Chittagong, Rajshahi and Khulna, will also be formed immediately to start similar activities, according to the commerce ministry directive.
The directive said the teams will prepare confidential reports on supply and stocks of nine food items such as rice, wheat/ata, pulse, soybean, milk powder, onion, potato, salt and sugar.
Directive has also been given to the teams to submit recommendations in case of big gap in prices between wholesale and retail markets.
The government will take necessary measures and future steps as per teams' suggestions.
The teams will pay visit to the markets twice -- one in working day and the other in holiday-- in a week, added the directive.
Commerce ministry officials said revival of the market intelligence has been taken in line with the election pledge made by the present government to keep the price of essential commodities within the reach of common men.
It will help the ministry enhance its role in market monitoring, they said.
Consumers Association of Bangladesh (CAB) is, however, not so upbeat about the intelligence teams and their objectives in curbing the prices of essential commodities, said its president Borhan Ahmed.
"Despite the vigilance the upward trend in price of many essentials might continue," he said.
"You need something real effective measure to break the cartel of dishonest traders and prevent toll collection from markets and transports," he said.
A market intelligence unit under the same ministry existed until 1992.
It was abolished in early 1900s when the country became a member of the World Trade Organisation (WTO)- a multinational organisation preaching free market economy.
Despite being members of the WTO many countries including India, Malaysia and China have such intelligence units, sources said.
The commerce ministry recently gave some additional responsibilities to Bangladesh Foreign Trade Institute (BFTI) to prepare research works on the local market.
It will design its future strategies on the basis of BFTI research work to monitor the local market.
Link to the news is here.
The market intelligence system, revived by commerce ministry after a gap of 16 years, has started monitoring the prices of essentials, official sources said on Tuesday.
Three intelligence teams, formed under the directive of the commerce ministry, have prepared working plans about the city's main wholesale hubs -- Moulvibazar, Babubazar, Karwanbazar and Shyambazar, they said.
Besides, three such teams, one each in Chittagong, Rajshahi and Khulna, will also be formed immediately to start similar activities, according to the commerce ministry directive.
The directive said the teams will prepare confidential reports on supply and stocks of nine food items such as rice, wheat/ata, pulse, soybean, milk powder, onion, potato, salt and sugar.
Directive has also been given to the teams to submit recommendations in case of big gap in prices between wholesale and retail markets.
The government will take necessary measures and future steps as per teams' suggestions.
The teams will pay visit to the markets twice -- one in working day and the other in holiday-- in a week, added the directive.
Commerce ministry officials said revival of the market intelligence has been taken in line with the election pledge made by the present government to keep the price of essential commodities within the reach of common men.
It will help the ministry enhance its role in market monitoring, they said.
Consumers Association of Bangladesh (CAB) is, however, not so upbeat about the intelligence teams and their objectives in curbing the prices of essential commodities, said its president Borhan Ahmed.
"Despite the vigilance the upward trend in price of many essentials might continue," he said.
"You need something real effective measure to break the cartel of dishonest traders and prevent toll collection from markets and transports," he said.
A market intelligence unit under the same ministry existed until 1992.
It was abolished in early 1900s when the country became a member of the World Trade Organisation (WTO)- a multinational organisation preaching free market economy.
Despite being members of the WTO many countries including India, Malaysia and China have such intelligence units, sources said.
The commerce ministry recently gave some additional responsibilities to Bangladesh Foreign Trade Institute (BFTI) to prepare research works on the local market.
It will design its future strategies on the basis of BFTI research work to monitor the local market.
