'Only political govt can control commodity prices successfully'

Finance Adviser Dr Salehuddin Ahmed on Monday said controlling commodity prices by engaging administrative officials is difficult while a political government is more successful in this regard.

"You can't resolve these (price controls) by involving administration. This can be done by a political government," he said.

He went on: "They (political governments) have the ability for moral suasion. They can give their voice. They have activists. They have such a set-up. But controlling prices by sending deputy commissioners and upazila nirbahi officers is difficult."

The adviser was responding to questions from newsmen after presiding over a meeting of the Advisers' Council Committee on Government Purchase at Bangladesh Secretariat.

Asked why rice prices are showing an upward trend in this paddy harvesting season and whether any unscrupulous businesses are behind this, Mr Ahmed said rice prices do not depend entirely on the supply factor.

"Apart from supply, rice prices also depend on distribution channels-the wholesale and retail markets," he said.

The adviser also suggested that the businesses should act responsibly.

"In other countries, commodity prices do not go up abruptly. Prices go up due to valid reasons. But in Bangladesh, you will see, they (traders) raise prices in a planned way despite having a huge stock of rice," said the adviser.

Replying to a question on the budget for holding national elections, he said, there is nothing to be worried about funds.

"After the announcement of schedule they (Election Commission) may not seek additional funds. If some emergency fund is needed, that can be managed. They have their own fund, the finance ministry is there. So, nothing to be worried about," said the adviser.

syful-islam@outlook.com