Star Business Report

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The Trading Corporation of Bangladesh (TCB) can now import basic commodities on an emergency basis, without waiting for any permission from the higher authorities of the government, after it was exempted from the public procurement rules until May 2021.

The decision came in a meeting yesterday of the cabinet committee on economic affairs chaired by Finance Minister AHM Mustafa Kamal.

In the event of a sudden price hike of basic commodities in the market, the TCB has to intervene to cool down the market.

But because of the delays in getting the permission to import the commodities, the state-run agency fails to arrest the price spiral, Kamal said.

But now, thanks to being excused from the public procurement rules, the TCB can now import essential commodities like edible oil, onion, garlic, ginger and lentils on an emergency basis and sell those directly in the market.

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