Commerce minister asks tanners to fix hide price by Friday

Commerce Minister Tofail Ahmed has directed tanners to fix the price of raw hide within Friday amid demands to link its price to the market.

"We (the government) do not want to fix the price. Fix a price so that the people can get a good bargain and one that also benefits you in the trade," he told a meeting with the representatives of the leather industry on Tuesday.

The government has taken steps so that raw hides are not smuggled out of the country, even after Eid, the minister said.

"The home ministry has instructed police and BGB to keep a strict vigil on the borders for at least 30 days after the Eid to check outbound smuggling of raw hides."

Tofail said that the price would be announced in a press conference on Friday.

Last year, the government had fixed prices of rawhide and skin.

Tanners bought cow hide at Tk 85-90 per square foot in Dhaka and at Tk 75-80 per square foot in rest of the country.

The price of goat hide was fixed at Tk 50-55 per square foot and that of Baqra goat at Tk 40-45 per square foot.

Price of buffalo hide was finalised at Tk 40-45 per square foot.

But the government had let the market determine rawhide prices in 2012 and now wants to return to that policy.