File Photo

DHAKA, Jan 7, 2025 (BSS) – Commerce Adviser Sk. Bashir Uddin today said that the government is working to further simplify trade and commerce in the country while all practical cooperation would be ensured in this regard.

The Commerce Adviser said this while chairing a meeting on the stockpile and import of rice situation held at the Ministry of Commerce Conference Room at Bangladesh Secretariat today.

Food Adviser Ali Imam Majumder attended the meeting as an invited guest, said a Commerce Ministry press release.

Mentioning that the government would try to resolve any problem faced by the businessmen, the Commerce Adviser said that there is a big gap in the prices of rice in the wholesale market and the retail market while the government wants to solve it by knowing the real reason. 

“We want to ensure a normal market environment,” he added.

Bashir said that the prices of most commodities have come down. Although the price of rice in the market has increased slightly, but, it will decline very soon, he hoped.

Food Adviser Ali Imam Majumder said that the government's food stock is now over 1.2 million tons while one lakh tons of rice would come from Myanmar this month.
 
He informed that efforts are underway to procure rice from other neighboring countries on G2G basis while the government has also taken initiative to procure rice from multiple sources instead of relying on imports from a single source. 

Majumder mentioned that rice is being provided regularly to low-income people through the state-run TCB as some 50,000 families are receiving 30 kgs of rice each under the food-friendly program. 

In addition, the regular operations of the Ministry of Food like OMS are going on.
 
Aditya Majumder of Majumder Agro Food Industries said that banks are not willing to open LCs as they have to open LCs at a hundred percent margin. “This is hindering the businessmen from importing rice,”

At this time, he sought cooperation from the two advisers to reduce the LC margin and ensuring dollar supply. 

Rice trader Nazir Pradhan suggested the government to procure rice through local and international tenders to keep the rice market stable. 

Bangladesh Bank Deputy Governor Dr. Md. Habibur Rahman said that the banks have been instructed to provide overall cooperation in opening up of LCs.

 “If there is any negligence in opening LCs for importing food products, it will be investigated,”

He also mentioned that there would be no more problem in opening LCs as expatriate income has increased. 

Secretary of the Food Ministry Md. Masudul Hasan, Chairman of the Bangladesh Trade and Tariff Commission Dr. Moinul Khan, Commerce Secretary (Routine Duty) Md. Abdur Rahim Khan, TCB Chairman Brigadier General Md Mostofa Iquebal also spoke.