‘Ghostly’ sugar price proposal: Industries ministry seeks Tk 2,512 per kg!

The Ministry of Industries has drawn criticism for extreme irresponsibility and incompetence in fixing the price of government sugar. According to sources, an unrealistic and 'ghostly' proposal was sent to the Trading Corporation of Bangladesh (TCB), setting the per-kg price of sugar produced by state-owned mills at Tk 2,512.563.

Instead of ensuring essential commodities remain affordable, the proposal has triggered ridicule and astonishment even within the administration.

The mix-up

In a letter to the Ministry of Commerce on January 19, the Ministry of Industries said it was interested in selling 10,000 tonnes of sugar to TCB. The letter fixed the mill-gate price of a 50-kg sack at Tk 125,628.15, implying a per-kg rate of over Tk 2,500 -- nearly 20 times higher than current market prices of Tk 130-150 per kg.

Analysts said, "When ordinary people are reeling under rising prices, such a senseless proposal being sent from one ministry to another is not only laughable, but also a glaring example of administrative inefficiency."

Market insiders said the blunder raises questions about coordination and professionalism within the ministry, especially ahead of sensitive periods like Ramadan.

Senior officials later admitted the intended price was Tk 125,628 per tonne, not per 50-kg sack.

Ministry sources said the Bangladesh Sugar and Food Industries Corporation (BSFIC) aimed to distribute the surplus 10,000 tonnes of sugar through TCB to stabilise the market ahead of Shab-e-Barat, Ramadan, and Eid-ul-Fitr. In reality, the proposed price would have caused confusion and instability instead.

When contacted by The Financial Express, two senior officials at the Industries Ministry said the proposal had been sent due to an 'unintentional error'. "The price of one tonne of red sugar should have been Tk 125,628. We will quickly correct it and resend the matter to the Ministry of Commerce," one of them said.