The government is unable to control the market due to a lack of adequate data and information, said Dr. Khondaker Golam Moazzem, Research Director of the private research organization Center for Policy Dialogue (CPD). He explained, “Even when production levels are sufficient, there can still be shortages in the market. We also fail to accurately calculate demand. This needs to be within the government’s framework. The government must have comprehensive and coordinated data and information.”
He made these comments on Sunday during a policy conclave organized by Bonik Barta at Pan Pacific Sonargaon in the capital, under the title “Reasonable Prices for Food Items: Exploring Market Oversight Strategies.”
Dr. Moazzem presented the main paper at the conclave on “Integration of Food Supply Chains in Bangladesh: Digitalization for Efficiency, Transparency, Traceability, Legal Accountability, and Accessibility.”
He further emphasized the need for legal reforms in government regulation of the market. “The system must change where a distributor supplies only one person’s goods,” he said.
During the discussion, SM Nazir Hossain, Vice President of the Consumers Association of Bangladesh (CAB), urged businesses to avoid “hurting consumers’ pockets” during the upcoming Ramadan. He said, “The government lacks adequate data, but it is essential for them to have it. However, it is even more crucial for our businesses to adopt a certain practice. The products for this Ramadan are sufficient in supply, yet businesses may still raise prices or create artificial shortages. Our approach to consumption must change in this regard.”
Sabbir Hasan Nasir, Managing Director of Shopner, stated that increasing VAT would lead to a loss of customers for institutional businesses. He remarked, “There is no VAT in the retail market, but we are required to pay 5 to 7.5 percent VAT. This will push customers toward the retail market and discourage institutional businesses.”
The conclave, which was moderated by Bonik Barta Editor Dewan Hanif Mahmood, was attended by Chief Guest Sheikh Bashiruddin, Trade Advisor, and other notable guests including National Board of Revenue (NBR) Chairman Md. Abdur Rahman Khan, former professor and economist of Jahangirnagar University Anu Muhammad, and Additional Secretary (Exports) Md. Abdur Rahim Khan from the Ministry of Commerce, among others.
LND/SAKIB
