Bangladesh News

Newly appointed Finance Minister AMA Muhith yesterday said they would form a price commission to keep prices of essentials under control and crack down on unscrupulous business syndicates.

After joining office on the first day Muhith said his maiden task would be to control the prices of commodities. They would do this by implementing the six-point programme on their election manifesto, he added.

Muhith became the finance minister for the second time. Yesterday he came to his Secretariat office at around 12noon and discussed his plans with journalists.

He said there are price commissions in many countries including our neighbouring one and there is no hindrance to forming one of our own either.

The task of the commission is to monitor market prices and intervene, if necessary, to bring down prices.

“There are two types of syndicates — one is for running businesses and another is illegal syndicate, which is formed to raise prices abnormally. We’ll try to enter new people in the syndicate so that the illegal syndicate cannot play with prices,” the minister said.

He added the illegal syndicates, built up with political patronisation, play an evil role to hike commodity prices. “Our government won’t give any political patronisation to any such syndicates. We’ll break up such evil syndicates.”

He went on to say, “We’ll increase production and build up good stock to lower prices.”

The new finance minister also dwelt on some other plans. “The budgetary allocation will be divided district-wise,” he said. He also plans to merge the revenue budget and development budget but added that it would take time.

A striking force would be formed to take quick decisions on different matters so that the global crisis does not have a negative impact here, the minister said.

He said, “I have taken over the charge of the finance ministry after 26 years. The size of the budget was only Tk 4,600 crore then. Now the budget size is Tk 99,000 crore. Many changes have taken places in the meantime. So I will have to have a good grasp of the changes which may take a few days.”