17 Oct 2021, 21:02
Update : 17 Oct 2021, 21:04

No trader will be allowed to manipulate market: FBCCI President

  DHAKA, Oct 17, 2021 (BSS) - 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

   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.


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