Commodity Prices Decline, Expected to Fall Further: Adviser

Commerce Adviser Sheikh Bashir Uddin

He made the remarks while addressing a gathering of imams and khatibs after Iftar at the Jamia Madania Baridhara auditorium, during an event organized by Hefazat-e-Islam Bangladesh Dhaka Metropolitan on Wednesday evening.

The adviser pointed out that wealth inequality played a significant role in sparking the July uprising, stressing the need for addressing inequality through concrete actions and effective policymaking. "We must tackle inequality through our policies and actions. The roles of Qardh al-Hasan (interest-free lending) and Zakat are essential to reducing this wealth disparity," he emphasized.

Sheikh Bashir Uddin explained that Zakat, an Islamic practice for wealth distribution, is not a form of charity but rather an individual responsibility. He called on imams and khatibs to inspire people to pay Zakat, ensuring a more equitable distribution of wealth and helping reduce poverty. The adviser also highlighted that Zakat can help prevent hoarding, which exacerbates wealth inequality.

He further mentioned that the Trading Corporation of Bangladesh (TCB) conducts annual activities worth Tk 12,000 crore, with the government's subsidy accounting for Tk 4,500 crore. However, he noted that corruption in various sectors, including economic, social, and political spheres, has severely impacted the effectiveness of these initiatives. In particular, he pointed out the extreme level of corruption within TCB’s activities meant to support marginalized populations.

In his address, Sheikh Bashir Uddin appealed to religious leaders of all faiths, not just Islam, to support the proper selection of one crore marginalized families eligible for TCB’s assistance. "Your support is crucial in ensuring justice and fairness in society," he said.

The commerce adviser also discussed the government's efforts to preserve rawhide and maintain fair pricing. He urged that salt be provided to madrasas and orphanages to help preserve the skin of sacrificial animals. “Your responsibility will be to clean and preserve the skin with salt rather than selling it immediately on the day of sacrifice,” he said, adding that holding onto the skin for seven days would help secure a fair price.

Highlighting the importance of the leather industry, he referred to leather as a national asset and a significant source of income for madrasas and orphanages. Sheikh Bashir Uddin assured that the ministries of industries and commerce are taking necessary steps to further develop the leather sector.

He also noted that when leather from outside Dhaka arrives in the capital after Qurbani, the increase in supply often leads to a drop in prices. The adviser reassured the public that measures will be implemented to prevent such issues from arising this time.

The event was attended by Hefazat-e-Islam Dhaka Metropolitan President Muhammad Junaid Al Habib, General Secretary Muhammad Mamunul Haque, and leaders of various levels of Hefazat-e-Islam, alongside numerous khatibs and imams from mosques across the city.