Govt withdraws sugar price hike move

The government reversed course on its plan to raise the price of sugar in light of the impending start of the holy month of Ramadan and the suffering of people.

According to a media release from the Industries Ministry on Thursday night, the retail price per kilogram (kg) of sugar would be sold at the former rate of Taka 140. 

The maximum retail price of the state-owned mills producing sugar was set by the Bangladesh Sugar and Food Industry Corporation (BSFIC) earlier in the morning at Taka 160 per kg, an increase of Taka 20 per kg.

According to the announcement, the BSFIC's sugar production's sale price was set to reflect both the local and global market prices for the commodity.

/MHK/