DHAKA: The state-run Trading Corporation of Bangladesh totters far behind the requisite speed in procuring essential items to keep prices in tolerable levels while the holy Ramadan is only four weeks away.

Though only four weeks to go before the month of fasting and religious festivals, the TCB has procured only 20 percent of its targeted provisions for the month.     

Sources in the Commerce Ministry said the TCB has set a target to procure 25,000 metric tonnes of lentils, 25,000 MT sugar, 72,000 MT soybean oil, 15,000 MT palm oil and two thousand metric tonnes of gram for trading at fair prices during the month of Ramadan.

The state trading agency decided to procure the items in June from local markets and import from other countries.  It sought a bank guarantee of Tk 500 crore. The sources said the government last year gave the TCB bank guarantee amounting to Tk 186.85 crore.

The sources said the agency floated tenders and contacted local growers. Some of the goods have reached its warehouse and agreements have been signed for the rest.     

TCB chief officer (trade) Al-Amin Mohammad Mostafizur Rahman said 3,000 metric tonnes of lentils have already been purchased and process is on to procure another quantum of 10,000 metric tonnes. 

The official said 10,000 metric tonnes of sugar out of the targeted 25,000 MT is expected arrive by July 14.  About the targeted soybean, the official said, about 18,000 metric tonnes is now in hand.

The TCB will sell these goods through 1,700 dealers across the country and in the capital from trucks. He hoped all their targeted items would reach Bangladesh before the start of Ramadan.

BDST/1735, JULY 11, 2010