Govt will create buffer stock of essentials, says State Minister Titu

A buffer stock is a strategy by the government to stock up goods to stabilise the market

The government will create a buffer stock of essentials while keeping the supply intact to ensure market stability, says State Minister for Commerce Ahasanul Islam Titu.

Generally, a buffer stock is a strategy to stock up on goods to stabilise the market. When there is no revenue shortage, the goods are bought and they are later sold during times of shortage.

"We made a long term plan. The TCB [Trading Corporation of Bangladesh] is thinking of creating a buffer stock. We'll create a buffer stock for one and a half to two months at least, or even for three months. Then we can keep the supply steady," said Titu during the inauguration of TCB sales for May on Tuesday morning.

“We're particularly monitoring the situation on edible oil. The TCB is working to import edible oil in bulk. Now we import it in bottles. I hope we'll be successful in doing so by next month," he said.

The state minister said they proposed to fix tariffs based on ‘on and off seasons’ for the essentials. "We're focusing on these dynamic issues so there's no supply crunch in the market."

He said consumers would be able to buy goods at a reasonable price when enough goods were available in the market.

In reply to a journalist's question, the state minister said that four ministries - commerce, agriculture, food, and fisheries and livestock - were already coordinating.

"If needed, we'll take help from the Ministry of Industries. All of the ministries will take initiatives using their capacity and, if successful, no vested quarters will be able to harm our consumers."

State Minister Ahsanul Islam Titu then inaugurated the TCB programme of subsidised sale of essentials to 10 million families holding TCB cards.