Government haven't strict against extortionists and hoarders in price control: CPD

The interim government has failed to take significant steps to address irregularities such as extortion, hoarding, and irrational price-fixing of essential commodities, even as inflation remains persistently high, according to the Centre for Policy Dialogue (CPD).

"It is a matter of regret. Steps taken by the interim government have so far failed to bring down prices of essential commodities," said CPD Executive Director Fahmida Khatun during a briefing at the think tank's office on Tuesday.

The CPD organized the briefing to present its assessment of the state of Bangladesh's economy for the fiscal year 2024-25.

While the CPD acknowledged government efforts to sell certain key commodities through agencies like the Trading Corporation of Bangladesh to alleviate pressure on consumers amid high inflation, it criticized the lack of effective measures to tackle systemic issues driving price hikes. Inflation in Bangladesh has remained above 9 percent since March 2023.

"High and rising prices of essential food commodities and inflation have consistently posed challenges," the CPD said in its report. The think-tank said food inflation, in particular, is a major contributor to overall inflation, exacerbating the economic strain on households.