Commerce adviser Sk Bashir Uddin on Tuesday highlighted the challenges faced by the government in stabilising the prices of essential commodities, citing a lack of accurate data on production and demand.

He noted that these discrepancies continued to hinder effective policymaking.

Speaking as the chief guest at the ERF-PRAN Media Award 2024 ceremony, held at the Economic Reporters Forum auditorium in Dhaka, the adviser attributed the issue to inflated statistics introduced by the previous government.

At the event, 10 journalists were honoured with the ERF-PRAN Media Award across three categories: print, online, and television.

Bashir said that the recent increase in edible oil prices would burden consumers, and the government was examining ways to help them offset the added costs through price adjustments in other commodities.

The government has raised the price of edible oil in response to the realities of both international and local markets, he said.

‘We do not aim to set the price of any commodity; rather, we strive to ensure market competition to guarantee the availability and stable prices of all items,’ the adviser said.

He mentioned that the government was considering importing edible oil directly from the international market to facilitate open market sales through the Trading Corporation of Bangladesh.

He also highlighted widespread irregularities in the issuance of TCB family cards and dealership licences across the country during the past regime, revealing that the interim government had cancelled 57 lakh family cards out of a total of one crore cards due to irregularities.

The commerce ministry aims to resolve the issue within 4-6 weeks, the adviser added.

PRAN-RFL Group chairman and chief executive officer Ahsan Khan Chowdhury said that the group introduced the award to promote news reporting on economic development.

He said that despite its vast potential, Bangladesh continued to lag in the agricultural sector.

Ahsan said that increasing production could be the way to make agricultural products more affordable for consumers.

Chief adviser’s press secretary Shafiqul Alam attributed the price hike of certain commodities to misinformation from the previous administration and the ongoing transformation of the country’s economy.

He urged reporters to disseminate accurate information so that the interim government could make the right decisions, saying that the present government is committed to ensuring easy access to information for all.

The awards were distributed among five journalists in the print category, two in the online category, and three in the television category.

In the print category, Ziadul Islam of Daily Amader Shomoy and Alamgir Hossain of The Daily Shomayer Alo shared the first prize.

The second prize went to Jasim Uddin Haroon and FH Humayun Kabir of the Daily Financial Express, while Shahanuare Shaid Shahin of The Daily Kaler Kantho won the third prize.

In the online category, Ibrahim Hossain Ovi of Jagonews24.com received the first prize and Mizanur Rahman Chowdhury of The Daily Jugantor earned the second prize.

In the television category, Tauhid Hossain Papon of Jamuna TV claimed the first prize, while Tawhidur Rahman of ETV and Horipodo Saha of Independent TV shared the second prize.

Bangladesh Journalist Welfare Trust managing director Mohammad Abdullah, ERF president Refayet Ullah Mirdha and general secretary Abul Kashem also spoke at the event.