Kitchen market management shake-up coming in March: State Minister Titu

Significant changes are coming to kitchen market management, starting 1 March, according to State Minister for Commerce Ahsanul Islam Titu. 

These reforms aim to ensure transparency, price stability and improved market efficiency.

The state minister made the announcement on Wednesday during a luncheon meeting organised by the Metropolitan Chamber of Commerce and Industry (MCCI) at its office in the capital's Motijheel.

At the meeting, the state minister unveiled a plan to launch a dedicated website providing real-time information on product prices, quantities, and supply chain details. Additionally, rice sacks will carry labels displaying production and pricing data, ensuring producer and consumer transparency.

He highlighted the government's commitment to tackling market manipulation. He vowed to eliminate price disparities between different markets. Online price boards will display real-time pricing across markets, deterring price gouging and unfair practices.

Responding to concerns about harassment by the Consumer Rights Protection Department, the state minister outlined a shift in strategy. Instead of relying on enforcement, the government will prioritise increasing product supply to stabilise markets and naturally discourage manipulation.

Looking forward, Titu announced plans to organise a global fair for Bangladesh's SME sector in 2025, aiming to connect them with markets in 23 countries. Product diversification and Geographical Indication certification will be promoted to enhance competitiveness.

The state minister drew attention to the government's efforts to cultivate a business-friendly environment and urged business organisations to reciprocate by adhering to regulations, including timely tax payments and audit submissions. He emphasised the importance of collaboration to achieve shared goals.

'Keep prices low during Ramadan'

State Minister Titu urged businesses to lower prices of essential goods during Ramadan, drawing parallels with practices in Muslim countries worldwide, including Mecca and Medina, where price reductions are common.

He expressed the hope that Bangladeshi businessmen would follow suit, particularly in Dhaka, Gazipur, and industrial areas, to maintain a stable market.

Titu highlighted government efforts to regulate prices, ensure adequate supply, and monitor the market during Ramadan. The government plans to provide essential items such as rice, lentils, oil and dates to one crore cardholder families twice through the TCB, a measure aimed at reducing the burden on the public.

He also addressed issues concerning middlemen's benefits, vowing to address them and increase TCB supplies to meet demand, while ensuring price stability in the market.

Businessmen's proposals

MCCI Chairman Kamran T Rahman emphasised the urgency of enacting new company laws to facilitate business operations and address the challenges posed by the current gas and electricity crisis and rising commodity prices. He suggests increasing subsidies on goods and reducing import duties.

Ahsan Khan Chowdhury, CEO of Pran-RFL Group, advocated involving businessmen in regulating essential goods markets and enhancing competitiveness in import-export.

Nihad Kabir, former MCCI president, stressed the need for effective annual budgets, product diversification, and a year-round campaign against unethical business practices.

MCCI Senior Vice President Habibullah N Karim proposed empowering the WTO cell to ease business regulations. A businessman named Shahjahan suggested promoting the jute industry through packaging laws.

Mirza Nurul Gani, president of National Association of Small & Cottage Industries of Bangladesh, stressed the need for marketing support for SME products, emphasising seamless integration with e-commerce.

Almas Kabir, former president of Bangladesh Association of Software and Information Services, highlighted tax obstacles hindering IT exporters and freelancers from contributing to the economy and suggests prioritising domestic IT products for mega projects.

'Don't bow to foreign pressure'

State Minister Titu advised businesses not to succumb to foreign pressure, citing examples of countries lecturing Bangladesh on democracy while avoiding discussing recent elections in Pakistan.

He highlighted Bangladesh's comparatively better election management despite facing ongoing crises, criticising Western countries' historical actions and selective focus on human rights. Titu emphasised Bangladesh's resilient leadership, asserting its ability to withstand external pressure.