Only political govt can rein in market syndicates: Finance Adviser

Bangla Press Desk:   Finance Adviser Salehuddin Ahmed warned that the recent volatility in rice prices cannot be resolved by administrative steps alone, saying that only an elected political government has the authority and legitimacy to rein in influential market players.

He made the comments on Monday while briefing reporters after a meeting of the Cabinet Committee on Government Purchase at the Bangladesh Secretariat. 

The meeting approved several major procurement proposals, including petroleum imports, large consignments of urea and MOP fertiliser, the construction of three key roads, and the import of non-basmati rice.

The Adviser said fertiliser prices in the global market, storage projections and transparent tendering were all considered before approving the new consignments. 

He noted that competitive bidding had helped reduce costs in several cases.

On rice prices, he acknowledged that the supply situation is comfortable but the market remains fragile. “There is enough rice in the country. Yet prices rise suddenly because a few large players move together. Distribution channels, especially wholesale and retail, play a big role. These issues cannot always be controlled by district administration,” he said.

He added that “a political government can handle this better because it has deeper grassroots networks, party workers and moral authority to push back against unhealthy market behaviour.”

Election and referendum budget

Responding to questions about the cost implications of holding the national election and referendum on the same day, the Adviser said the government has already asked all ministries to submit revised budget requirements by late December.

He said the Election Commission may incur additional expenses—especially for overseas voting arrangements starting this month—but added that contingency funds are available and “there is no reason to worry about budgetary support for the polls.”

Body cameras for law enforcement

On procurement of body cameras for police and other security agencies, he confirmed that the Home Ministry has been authorised to move ahead using its allocated funds. The exact quantity will be decided by the ministry based on operational needs.

Rice imports and market stability

The Ministry of Food will move ahead with importing non-basmati rice through competitive international tenders. While many past consignments arrived from India, the Adviser stressed that suppliers will be chosen purely on price, quality and timely delivery.

Pressed again on price manipulation, he reiterated that administrative raids alone cannot stabilise the rice market. “A political government can intervene more effectively. They can communicate with traders in a way that the bureaucracy cannot.”

BP/TD