Economy
Dhaka Stores Experience Sugar Shortage Amid Soaring Prices
The city of Dhaka is currently facing a shortage of sugar, as loose sugar was being sold on Wednesday (3rd May) in markets for Tk135 to Tk140 per kg, which is much higher than the government-fixed price due to short supply.
The government set a price ceiling of Tk104 per kg for loose sugar and Tk109 for packaged sugar on April 8, but consumers complained that the ceiling hardly worked. In the retail market, packaged sugar has been hardly available, and even for loose sugar, consumers have to pay Tk135 to Tk140 per kg, up from Tk120 to Tk125 a kg last week. During visits to different markets in the capital on Wednesday, no packaged sugar was seen in stores, and traders reported no supply of sugar since the Eid-ul-Fitr festival late last month.
Wholesale companies have failed to deliver citing short supply, and importers attribute the short supply to the high price of sugar in the international market affecting domestic supply. They are waiting for the government to decide if they would go for import at higher prices and have reduced imports due to higher prices. According to the government agency, Trading Corporation of Bangladesh (TCB), the price of sugar increased by 15 percent in a month while it increased by more than 62 percent in one year.
Salmat Sarder of Chadpur Store of Karwan Bazar stated that packaged sugar has not been available for a long time, and loose sugar purchased at the wholesale level is more than Tk130 per kg. Still, dealers are not giving purchase receipts. The scarcity of sugar has created challenges for consumers, and the government needs to address the issue by taking necessary measures to stabilize the sugar market and ensure fair prices for consumers.
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.
