No need for panic buying as there's ample supply: Tipu Munshi

Commerce Minister Tipu Munshi has urged consumers not to buy essential items beyond their necessity as there are sufficient stocks in the country to meet the demand for such items.

“Presently, there is the available stock of essential goods, so there is no need to go for panic buying of the commodities, “the commerce minister told at a press conference at his secretariat office on Wednesday.

He, however, said it is noticed that there is some sort of impact on the prices of essential items especially at the retail level in the last couple of days.

The commerce minister also mentioned that the prices of essential items will increase due to rumor.

"We have a sufficient stock of essential items to fulfill the demand in the coming days. We are prepared in aspect,” Mr. Munshi said.

He said Trading Corporation of Bangladesh (TCB) will introduce OMS (open market sale) of key essential items ahead of the fasting month of Ramadan.

Besides, the state entity already introduced a special OMS of four key essential items for 15 days to mark the birth centenary of Bangabandhu Sheikh Mujibur Rahman from March 17.

Currently, supplies of essentials commodities in the market remain 25/30 percent higher than that of the previous year.