Written by The Banking Post
Finance Adviser Dr Salehuddin Ahmed said on Monday that commodity prices cannot be effectively controlled through administrative mechanisms alone, arguing that political governments are better equipped to manage market volatility.
“You can’t resolve these issues by involving administration. This can be done by a political government,” he said after presiding over a meeting of the Advisers’ Council Committee on Government Purchase at the Bangladesh Secretariat.
He explained that political governments have moral authority, organisational networks and grassroots reach—tools that enable stronger market influence. “They 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,” he added.
Responding to a question about rising rice prices during the peak harvesting season, Dr Ahmed said the market does not depend solely on supply. “Apart from supply, rice prices also depend on distribution channels—the wholesale and retail markets,” he noted.
He stressed that businesses must behave responsibly, pointing out that abrupt price hikes are uncommon in other countries. “Prices go up due to valid reasons. But in Bangladesh, you will see they raise prices in a planned way despite having a huge stock of rice,” he said.
On queries regarding the budget for the upcoming national elections, the adviser said there is no financial concern. “After the announcement of schedule, they 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,” he assured.
