26/02/2008 (The New Nation, Bangladesh) - After a three and half hour long meeting with the importers and wholesalers the government Monday fixed a high price for edible oil further increasing the burden on the common people.

Per kilogram (kg) of soyabean oil will be sold at Tk 106.50 and palm oil at Tk 99.50 at retailers end until March 9, the meeting decided in the absence of representatives from retailers level. At present per kg of soyabean oil is selling between Tk 110 and Tk 115.

President of the Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association MA Rouf Chowdhury on February 13 at a meeting in commerce ministry pledged not to raise edible oil price until February 24. But he raised the price by Tk 250 per 40 litres within two days of the meeting.

In the face of criticism from a cross section of people Rouf Chowdhury remained absent in Mondays meeting at the commerce ministry.

Commerce Adviser Dr Hossain Zillur Rahman told newsmen that price of edible oil will be re-fixed again on March 9.

He said the government fixed price of edible oil to free people from the unstable price situation. The government will closely monitor market price of essentials, the adviser said.

He informed newsmen that a high-powered committee has been formed to give the monitoring activities an institutional shape. Commerce adviser will head the committee, which will comprise the commerce secretary, director general of Bangladesh Rifles, representatives from National Board of Revenue, Bangladesh Bank and importers.

He said out of nine core food items, rice, pulse, wheat and edible oil price will be monitored by this committee.

Commerce Secretary Firoz Ahmed, BDR DG Major General Shakil Ahmed, City Group chairman and one of the big importers of the country Fazlur Rahman, general secretary of Moulavibazar Edible Oil Bebshayee Samity Abul Hashem and representatives from different importing company were present, among others, on the occasion.