Commodities in Bangladesh cost higher than South Asian average: CPD
DOT Desk: Most products and services are being sold in Bangladesh at a price higher than the South Asian average, says the Centre for Policy Dialogue (CPD), reports TBS.
According to findings of a CPD research, the price of half a kilogram of bread is Tk62 in Bangladesh, highest in the South Asia region. Whereas, half a kg of bread cost Tk45 in Pakistan and Tk48 in India and Nepal. Even the cost of bread in Sri Lanka (Tk50) is substantially lower than that in Bangladesh.
The CPD disclosed this information during a press conference titled “Slowdown in global economy and challenges for Bangladesh: How to tackle?” held in the organisation’s office in the capital on Thursday (20 October).
Several necessities, whether they are produced locally or imported from a more developed country, are more costly in Bangladesh than in other developing or developed nations, said Executive Director of CPD Dr Fahmida Khatun. She said that the poor and low-income populations in the country are facing hardships due to ongoing inflationary pressure. So, she recommended removing advance income tax (AIT), advance tax (AT) and regulatory duty (RD) on all imported essential food items to help people manage their livelihood.
She also recommended that the Minimum Wage Board should consider increasing the minimum wages in all industries so that workers earning minimum wages may at least afford basic food. The think tank said that the consumers in Bangladesh have to pay Tk684 for 1kg beef, highest in the region and substantially above the global average of Tk549.
The CPD report said that a kilogram of beef costs Tk375 per kg in Pakistan, around half of Bangladesh’s Tk684. Also, beef costs Tk580 per kg in India, Tk465 per kg in Nepal and Tk545 per kg in Sri Lanka. The Global Report on Food Crises 2022 has mentioned Bangladesh as one of the countries which are at risk of facing a food crisis, says the report. Dr Fahmida Khatun also said that out-of-pocket expenditure for health is the highest in Bangladesh.