Bangladesh is on the verge of bankruptcy. There is a shortage of many essential items here even before Ramadan. People are facing the most shortage of edible oil. The situation is such that the prices of edible oil have started skyrocketing.
However, the caretaker government of Bangladesh says that this problem is temporary. It will be resolved soon.
The situation has become more serious since Mohammad Yunus became the caretaker Prime Minister in Bangladesh. Sheikh Hasina left the post of Prime Minister after the crisis in Bangladesh last year. With this, she also left Bangladesh.
Mohammad Yunus became the caretaker Prime Minister after Sheikh Hasina, but now the situation does not seem to be improving even with him.
Why did the oil prices increase?
Bangladesh’s oil industry says that the prices of edible oil have increased amid supply concerns. Retailers and refiners say that the prices of edible oil have increased due to distributors. In such a situation, the suspicion is growing that a part of the local supply is being exported illegally.