Commerce Adviser Sheikh Bashiruddin has said that there is no legal justification for the recent increase in edible oil prices by traders.
Speaking to reporters at the Secretariat on Wednesday, he said importers and distributors had quietly raised the retail price of soybean oil by BDT 9 per litre without any official announcement.
When asked for his reaction, Sheikh Bashiruddin said, “The government had no prior knowledge of the price hike. We only learned about it half an hour ago. The companies acted collectively to raise the prices, which is completely unacceptable.”
Asked what steps the authorities would take next, the trade advisor added, “We will discuss and determine the appropriate course of action. There is no legal basis for this price increase.”
