The government is considering import of sugar through the Trading Corporation of Bangladesh (TCB) and Bangladesh Sugar and Food Industries Corporation (BSFIC) to cool the overheated market, reports UNB.
The market intervening drive to bring down the skyrocketing price of sugar will begin soon, aiming to break the monopoly of a group of syndicated importers, Commerce Ministry officials said.
Sugar is now selling at Tk 58 per kg against Tk 35 about one and half months ago.
The Commerce Ministry has already held a series of meetings with the importers and other stakeholders to know the reason behind the sudden increase in the sugar price.
The ministry within a week will put forward a set of sug gestions to government high-ups recommending that either TCB or BSFIC be assigned to import a significant quantity of sugar from abroad and then release it to the market either on retail or wholesale basis.
Commerce Minister Altaf Hossain Chowdhury said this at a press conference arranged at his ministry's conference room to tell the press of the successful holding of the first ever-single country Bangladesh Trade Show in Sri Lanka.
"We're thinking to assign either TCB or BSFIC for importing sugar and subsequently selling it through the registered dealers to cool the overheated market," the minister said adding, "The ministry within this week will advise the government about the next course of action."