Govt initiates step to enlist reputed int'l suppliers

The government has made a move to prepare a list of renowned international suppliers for ensuring smooth supply of key essential products in the market to face any crisis or price spiral in future.

To this effect, the commerce ministry is working on the issue at the request of the Trading Corporation of Bangladesh (TCB), sources say.

It is expecting to assign commerce counsellors under Bangladesh missions abroad for sending a list of such suppliers in their respective countries.

When contacted, TCB chairman Brigadier General Md Ariful Hassan said, "In order to stabilise the market with adequate commodity supplies for controlling the price rise, regular procurement of products from reputed international suppliers has been undertaken."

The move will have a positive impact on the local market, as well as increase the supply of essential products and stabilise domestic market if it is implemented, he expects.

The items include sugar, edible oil (super palm, palm oil), onion, lentils, gram and date.

Under the process, the commercial counsellors will invite Letter of Interest (LoI) from the product exporters concerned.

Necessary qualifications of the items exporters such as previous experience of the organisation, turn over, liquid assets, tender capacity, joint venture information, complaints against him (if any), trade licence, chamber of commerce certificate, export registration certificate will be verified and vetted and then sent to the TCB through the commerce ministry, according to a document.

Some local traders and importers said the plan will be very effective to supply of essentials in time of need in the local market. But it will be managed properly. Otherwise, the aims and objects of the government will be failed.

A buffer stock of such products will be built up to offset the shortage of kitchen items to be collected through the state-run TCB, an official says.

Under the move, the TCB will be able import essential goods or procure them from international markets to help keep the commodity market stable in future, especially during the holy month of Ramadan, a commerce ministry source say.

He, however, say local private sector importers also avail the facility to import necessary goods.

Currently, the TCB sells essential commodities every month at subsidised rates to keep the commodity market stable.

The prices of commodities may go up in the domestic and international markets. So, the government always wants to prepare to successfully intervene in the market in the coming days, he adds.

"The ministry is working and taking necessary measures to ensure an adequate supply of these products in the market during the fasting month," says an official who deals with the issue.

Usually, the common people suffer a lot due to an unusual hike in the prices of major essential items during Ramadan and Eid-ul-Azha.

According to the Prime Minister's instructions, the sales of edible oil, sugar and lentil pulses at affordable prices are going on among 10 million low-income families under TCB family cardholders.

The TCB needs 20 million litres of edible oil, 20,000 tonnes of lentil and 10,000 tonnes of sugar per month.

Besides, the TCB is required chickpeas and dates during the holy month of Ramadan.

On the other hand, onions and potatoes are bought and sold at affordable prices as emergency need.

Sometimes, the TCB cannot sell many products, including sugar, to its cardholders' families. To offset the unusual situation, the move will help the state entity.

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