PR no: 05-14072008 10 Rajab 1429 AH
14 July, 2008 CE
Press Release
Commodity prices will remain stable if we discard US and World Bank policies and establish
the Khilafah
Hizb ut-Tahrir, Bangladesh organized a seminar today at the national press club on the subject of
`Failure of Current Economic System to Ensure Food and Energy Security.‘ At the seminar Chief
Coordinator and Spokesman of Hizb ut-Tahrir in Bangladesh, Mohiuddin Ahmed said that the current
government is not taking any responsibility for its misdeeds. The government has stopped selling
subsidized rice to the poor. The government has also increased price of fertilizer and fuel. Yet they are
blaming farmers for the increased price of rice.
Regarding the government’s argument that price of rice and oil has increased globally, Mohiuddin
Ahmed said that according to statistics released by FAO, total production of food globally was 2.3
billion tonnes last year while human demand for food was about 1 billion tonnes. He added that the
USA is transferring her own economic crisis to the world and creating massive uncertainty in global
markets. Mohiuddin Ahmed further stated that Bangladesh never imported rice more than 20% of its
demand and generally rice import averages less than 10% of its demand. Hence the increase of price
of rice in the global market should not have a major impact in Bangladesh. In addition the government
needed to subsidize the agricultural sector to maintain price stability. Instead Fakhruddin government
has made agricultural production difficult by doubling the price of fertilizer in accordance with World
Bank prescriptions. The government is also holding onto dollar reserves to protect US interests
despite the fact that value of dollar is falling every day. These decisions are suicidal for the economy.
Mohiuddin Ahmed said if Bangladesh establishes the gold currency, subsidizes the agricultural sector,
and discards the policies of World Bank and USA, then the prices of essential commodities will remian
stable. These steps can only be taken by the Khilafah government which will alleviate the sufferings of
the people.
