Dhaka, Oct. 14 -- Commerce Adviser Sk Bashir Uddin on Tuesday said businesses have increased edible oil prices without the government's approval, which is beyond their authority. "The government has not raised edible oil prices, nor has it given any permission to businesses to do so. Businesses do not have the authority to increase prices without the ministry's approval. If there are price discrepancies, the government will take necessary measures," he said while speaking at an event in Purbachal on the recent hikes in soybean and palm oil prices.

Bashir Uddin said edible oil is a regulated product under the Ministry of Commerce and only the ministry has the authority to fix its prices. "The Tariff Commission determines edible oil prices...