Government plans AI-based market monitoring and strategic stockpiling to control market

PNN News Desk. Dhaka

The government has taken new initiatives to ensure transparency and stability in the market of essential commodities, said Khandaker Abdul Muktadir. He stated that initiatives have been taken to prevent syndicates and artificial shortages, including building strategic reserves, implementing AI-based supply chain monitoring, and strengthening the Trading Corporation of Bangladesh (TCB).

He made these remarks as the chief guest at the inauguration ceremony of TCB’s truck sale program for Eid-ul-Azha held at Agargaon in the capital on Monday.

The Commerce Minister said that ensuring food security for low-income and marginalized people is the government’s main objective. For this purpose, subsidized food distribution activities across the country are being expanded further. He said that around 22.8 million people received assistance from TCB during the last Ramadan. This time, the government plans to increase that number to around 28.8 million.

He also said that compared to last year, food supply through TCB has been increased by about 40 percent ahead of Eid-ul-Azha. According to the government plan, truck sale operations will be launched quickly in case of special situations or market pressure.

Khandaker Abdul Muktadir said that due to inconsistencies in the previous beneficiary list, a new list has been prepared after verification. Currently, around 8 million genuine beneficiaries have been included, and another 2 million families will be gradually added.

He also mentioned that a new policy is being formulated to ensure transparency in dealer appointments for TCB. According to him, making the system technology-driven and accountable will make TCB operations more effective.

Regarding market management, the minister said that the entire supply chain from import to retail is planned to be brought under AI-based digital monitoring. This will allow the government to receive fast and accurate information about market conditions and make necessary decisions accordingly.

Special guest at the event was Ministry of Commerce Secretary (Routine Charge) Md. Abdur Rahim Khan. TCB Chairman Mohammad Faisal Azad delivered the welcome speech.