JS Body Seeks Halt to Sugar Exports
Tuesday, 15 September 2009

A parliamentary committee has recommended a halt to sugar exports, as the essential commodity continues to soar in price, the committee chairman said on Monday.

The standing committee on industry also decided to investigate sugar export policies of the past BNP and caretaker governments.

"We have recommended no export of sugar until the ongoing crisis is averted," chairman Tofail Ahmed told reporters after a meeting.

The decisions come on the instability of market prices of sugar.

The past caretaker government allowed Deshbondhu Sugar Mill to export sugar last year.

Ahmed said the committee decided to probe the deal since the sugar mill was allowed to export sugar without any tender process.

There are allegations that Deshbondhu Sugar Mill sold 800 tonnes of sugar out of 6,000 tonnes earmarked for export.

"We will probe whether the company exported or stocked the remaining sugar," he said.

The committee recommended the industries ministry making arrangement to recover any sugar stocked by the company to sell in the open market.

Ahmed said there was sugar of Tk 300 crore in stock when the previous Awami League government quit in 2001.

Later the BNP government allowed private companies to import sugar.

According to the Trade Corporation of Bangladesh sugar is being sold at Tk 60 to Tk 64 in retail markets. The price has increased in several phases since the beginning of Ramadan.

The price rose by 33 percent in the last one month.

Source: bdnews24.com

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