Policy measures introduced by the Bangladesh government in control the price hike.

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Discuss policy measures introduced by the Bangladesh government in control the price hike.The Bangladesh government has introduced several policy measures to control the ongoing price hikes, particularly in essential commodities. These strategies aim to address both supply-side constraints and inflationary pressures while protecting vulnerable populations. Key measures include:

1. Monetary Policy Adjustments

  • The Bangladesh Bank has adopted a tighter monetary policy to curb inflation. Recently, it raised the policy rate to 8%, making borrowing costlier to reduce money supply and demand-side inflation​
    Prothomalo
    ​
    bdnews24.com
    .
  • Adjustments to the interest rate corridor were also made, such as altering repo and reverse repo rates, to better manage liquidity and exchange rate stability​
    bdnews24.com
    .

2. Support for Imports of Essential Goods

  • To stabilize market supply, the government facilitated the import of essential items like edible oil, sugar, and lentils on credit, especially before Ramadan, to prevent shortages and price spikes​
    Prothomalo
    .

3. Subsidies and Social Safety Nets

  • Increased allocation for subsidies in critical sectors like agriculture and energy has been proposed. Additionally, expanding social safety net programs is emphasized to protect low-income groups from the adverse effects of inflation​
    Centre for Policy Dialogue (CPD)
    ​
    The Daily Star
    .

4. Anti-Price Manipulation Measures

  • The government has tasked regulatory authorities to investigate and penalize price manipulation by "invisible syndicates" operating in the supply chain of essential goods​
    Prothomalo
    .

5. Fiscal and Administrative Interventions

  • Plans include reducing unnecessary public spending to ensure fiscal space for addressing inflation. This includes prioritizing food production projects and streamlining foreign-funded infrastructure programs to prevent further economic strain​
    Centre for Policy Dialogue (CPD)
    ​
    The Daily Star
    .

6. Market Monitoring

  • Enhanced market monitoring mechanisms are being implemented to ensure fair pricing practices by wholesalers and retailers​
    Prothomalo
    .

These measures collectively aim to reduce inflation, stabilize markets, and protect disadvantaged groups from the economic burden of rising prices. However, critics note that delayed actions and systemic inefficiencies may weaken their overall impact​

The Daily Star
​
bdnews24.com
.

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