Sunday, 21 Apr, 2024


FBCCI for action against market manipulators during Ramadan

News Desk |
Update: 2024-02-28 20:54:09
FBCCI for action against market manipulators during Ramadan

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged market committee, business association and all concerned to take stern action against those who will create artificial crisis in the commodity market and indulge in extortion during the holy month of Ramadan.

Mahbubul Alam, president of the apex trade body, was talking to reporters following a meeting on the stock, import, supply and market situation of the daily commodities ahead of the month of Ramadan, held at the FBCCI auditorium in Dhaka on Wednesday (Feb 28).

Alam also called upon the traders to ensure a smooth supply of food products and earn fair profits during the holy month.

“Stern measures should be taken to stop the extortion on the way of transporting goods. You (businessmen) will inform us if there is extortion anywhere during the transportation or loading and unloading of goods. We will be vocal against extortionists. If necessary, I will talk to the higher authority of the government,” he also said.

Alam urged the leaders of various market associations to be careful so that no one can increase the prices of daily commodities by creating artificial crises in the market ahead of the upcoming Ramadan.

“Artificial crisis is created following a disruption of the supply chain. The monitoring system should be strengthened so that there is no abnormal difference in the prices of products from the wholesale market to the retail level,” he also said.

He said, “Ramadan is the month of purification. You (businessmen) do business throughout the year, you will also do it in the month of Ramadan. In other countries of the world, discounts are given on the occasion of Ramadan. It should be practiced in our country.  Don't overcharge for any products. You earn a fair profit in the month.  FBCCI will not support any dishonest businessman.”

While speaking at the event, producers and suppliers of different food products have also assured that the prices of essential items will remain under control as there is enough stock of food grains in the country at present.

BDST: 2054 HRS, FEB 28, 2024

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