POST TIME: 17 October, 2021 09:47:24 PM
No trader will be allowed to manipulate market: FBCCI President
BSS, Dhaka

No trader will be allowed to manipulate market: FBCCI President

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin today blasted a section of dishonest traders for soaring prices of essential commodities and said none will be allowed to tarnish the image of the entire business community.

   "We, the business community, are contributing to the economy, industrialization, employment, poverty alleviation but due to a handful of dishonest businessmen, our image is being tarnished . . . such ill activities would not be allowed to continue," he said while speaking at a discussion meeting on "stock, import, supply and price situation of essential commodities" at the FBCCI office here.

   Mentioning about the recent abnormal price hike of onion, the FBCCI chief said onions are being sold at wholesale level at different prices in the
Shyambazaar. In the retail market also, the price difference from one market to another is Taka 10 to 15 per kg, which is abnormal, he said, adding that a few businessmen are responsible for this unethical practice.

   "We will definitely do business but we will not do anything that will ruin the image of the entire business community," he added.

   He said the government is sincere in keeping the market stable and for this reason, the government has reduced the customs duty on onion import and within a few hours after the decision, the onion price dropped.

   President of Bangladesh Shop Owners' Association Helal Uddin and senior vice-president of FBCCI Mostofa Azad Chowdhury Babu said prices of some commodities went up due to some reasons including higher power bill, extortion and downpour in India that hampered transportation of onion from India to Bangladesh.  

   FBCCI President Md Jashim Uddin assured of taking further steps in this regard.

   He urged the traders to inform the FBCCI if they face such problems and said that the standing committee of the FBCCI would begin working within a week to solve the problems of the businessmen.

   Also present at the meeting were FBCCI's Vice President MA Momen, Vice President Md Aminul Hoque Shamim, Vice President Habib Ullah Dawn, FBCCI's Director Rezaul Karim Rejnu, CIP, and FBCCI's Former Vice President and Other Directors and FBCCI Chief Executive Officer Mohammad Mahfuzul Hoque.

  Among others, representatives from rice and onion importers, warehouse owners and business leaders of various market associations in the capital were present at the meeting.