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‘Prices of 9 essential commodities to be fixed within next week’

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The government will set the prices of 9 essential commodities in the country in accordance with the world market and the new prices will be announced in the next week, said Commerce Minister Tipu Munshi.

“Government will publish a list setting the prices of 9 essential products in line with the situation in the global market. The new price list will be published in the next seven days,” the minister said while talking to reporters at the National Press Club on Friday, 16 September.

The retail prices of rice, egg, cement, rod, edible oils, sugar, flour, onion and lentil will be capped by the government on the basis of global price movement and local market supplies, the minister added.

Prior, the government said that it planned to widen its control over the market as commodity price volatility persists with prices of essential products – either locally produced or imported–- soaring unpredictably due to dollar shortage and fuel price hikes, it incorporates more items in the list of essentials and attempts to set prices with stern warning against violation.

Rashed Khan Menon, president of Workers Party, said the wages of the workers should be increased and rationing should be arranged for workers.

In today’s global context, introducing wage hikes and rationing is not only logical but also a matter of life and death, he added.

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Economy

Remittances Top $2bn in First 28 Days of September

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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.

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Economy

Yunus Pledges Swift Reforms and Election in Bangladesh’s Interim Govt

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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.

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Economy

Polythene Bags to Be Phased Out, Says Environment Adviser Rizwana Hasan

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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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