Govt body to probe wholesale-retail price gap: Commerce minister

Commerce, Industries, Textiles and Jute Minister Khandaker Abdul Muktadir today said the government will form a fact-finding committee to examine the unusual price gap between wholesale and retail markets.

At a discussion on the supply and price situation of essential commodities amid the US-Israel war on Iran, he said the government is closely monitoring the supply and pricing of essential goods.

He, however, said there is no reason for panic in the domestic market over the recent tensions in the Middle East.

Earlier in the day, the minister visited the wholesale market at Khatunganj.

He said an unacceptable gap is often observed between wholesale and retail prices in the domestic market.

"To identify the underlying causes, the government will form a fact-finding committee comprising representatives of traders, officials from the administration, and, if necessary, professionals from other sectors. The committee will review the issue in detail and submit recommendations," he added.

Addressing concerns over the Middle East situation, the minister said most of the commodities currently available in the market had been imported before the war escalated.

He added that the government also has adequate fuel reserves.

The minister said, "If international prices fluctuate, the government will take necessary policy measures to minimise the impact on consumers."

Bangladesh still depends heavily on imports for many commodities, he said, noting that increases in global prices, exchange rates, or transport costs often affect domestic markets.

He also said, "The government remains vigilant so that prices do not rise unreasonably due to internal mismanagement or market manipulation."

Referring to the edible oil market, the minister said supply remains adequate, though attempts to create artificial shortages at the retail level may occur in some areas, which do not reflect the overall market situation.

Later in the afternoon, following a meeting with business leaders at the Chattogram Circuit House, the minister said the government plans to set up a modern laboratory at the port to test imported goods and install new scanners to strengthen inspection capacity.

He also said a separate fact-finding committee will be formed to resolve long-standing issues at the port, including nearly 10,000 auction-eligible containers and imported vehicles that have been lying there for years.

According to the minister, the proposed committee will include the chairman of the Chittagong Port Authority and the chairman of the National Board of Revenue, and may also seek advice from the finance minister if necessary.

The discussion meeting was chaired by Md Abdus Salam, president of the association.

Special guests included Mahbubur Rahman and Mohammad Zahidul Islam Miah.

Wholesale traders, government officials, and media representatives were also present at the event.