Economy
Sugar prices soar rapidly at a glimpse week
The crisis over sugar prices is not ending in any way as per kilogram of sugar is being sold at Tk 90 to Tk 95 in retail markets in Dhaka on Friday, 14 October.
Many traders have stopped selling sugar as the wholesale price is more than the fixed retail price.
Visiting some wholesale shops at Kawran Bazar, the correspondent witnessed per kilogram of sugar being sold at Tk 90 to Tk 95 which was Tk 84 to Tk 88 in the previous week.
Earlier on September 22, the government fixed the retail price per kilogram of packaged refined sugar at Tk 89 from the then price of Tk 95.
And the retail price per kilogram of loose refined sugar has been fixed at Tk 84.
The price per bag of sugar increased by Tk 250 to Tk 300 compared to that of the previous week, buyers claimed.
Though the sugar price has not increased at the mill gate, the transportation cost contributed to increasing the sugar price, according to a number of traders.
Apart from the transportation cost, the sugar price went up due to the syndication of a group of dishonest dealers which result, the traders have to buy sugar at a higher price and affecting the retail market, said the traders.
“We bought a sack of sugar at Tk 4,200 to Tk 4,300 in the last week but we bought a sack of sugar at Tk 4,500 two days ago. But the price of packaged sugar did not see any hike”.
Orthosongbad/NR
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
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