Traders’ edible oil price hike has no legal basis: Adviser

Commerce Affairs Adviser Sheikh Bashiruddin has said that the process by which traders raised edible oil prices has no legal basis.

He made the remarks while responding to reporters’ questions at the Secretariat on Wednesday (3 December).

Without any official announcement, importing and marketing companies have quietly increased the price of soybean oil at the consumer level, this time by Tk 9 per litre.

Commenting on the issue, the adviser said, “The government had no knowledge of the oil price hike. We only learnt about it half an hour ago. The companies have collectively taken this step, which is unacceptable in any way.”

When asked about the government’s next course of action, he said, “We will discuss the matter and decide on further steps. There is no legal basis for this price increase.”