At least 70 persons died in a blaze at Chawkbazar on Wednesday, just the way a similar fire at Nimtali in Old Dhaka nine years ago killed more than 100.
In both cases, it was the flammable chemicals that caused more causalities, said the Fire Service.
There has been a recommendation to shift the chemical warehouses to another place which was never implemented.
The government will form an investigation panel on the incident, he said.
"The government will form an investigation panel and take necessary measures. It stood beside the victims in the 2010 fire and never played the role of a silent audience. We'll take measures to prevent the repeat of such incident and rehabilitate the victims."
The government will provide necessary assistance to the fire victims, he said.
Dhaka South Mayor Mohammed Sayeed Khokon will be given necessery assistance in removing the warehouses of all kinds of chemicals in Old Dhaka, said Home Minister Asaduzzaman Khan.