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Sunday, May 29, 2022

Bangladesh subsidizes food after massive price hikes

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After violent protests against rising food prices, the Bangladeshi government launched a subsidy program. By the end of the fasting month of Ramadan in six weeks, about 10 million of the South Asian country’s 170 million people will receive a variety of basic necessities at discounted prices, Commerce Secretary Tapan Kanti said on Sunday. Ghosh.

Gosh blamed the Russian invasion of Ukraine for the price hike. This has pushed up crude oil prices and is now also affecting world commodity prices, he told the AFP news agency.

Already on the first day, hundreds of people queued at an industrial center on the outskirts of the capital Dhaka in scorching heat to grab subsidized food rations. One of those waiting, Mosharraf Hossain, expressed skepticism that the war in Ukraine was responsible for the huge price increases.

“Our country mainly produces rice, lentils and sugar,” he said. “Are we at war here? It’s all fraud.” Opposition activists accuse many merchants of greed for profits. After a series of protests, they are planning a national strike against massive price hikes at the end of March.


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