Fact-finding body to probe price gaps in wholesale and retail markets: Muktadir

The Ministry of Commerce will form a fact-finding committee to investigate the unreasonable price gaps between wholesale and retail markets, Minister Khandkar Abdul Muktadir announced today (15 March).

The statement came during a review meeting titled "Middle East Conflict: Supply and Price Situation of Essential Commodities", held at the Khatunganj Trade and Industries Association conference hall, following a field visit to the Khatunganj wholesale market.

Addressing the gathering, the minister noted that in many cases, the price difference between wholesale and retail is unacceptable. "To identify the root causes, a fact-finding committee will be formed comprising business representatives, government officials, and, if necessary, other professionals. The committee will conduct an in-depth review and provide recommendations," he said.

The minister highlighted Bangladesh's continued reliance on imports. "It is natural for international price hikes, rising dollar value, or increased transport costs to affect domestic markets. However, the government remains vigilant to ensure that internal mismanagement or regulatory lapses do not cause unreasonable price surges," he added.

Regarding imported fruits, Muktadir emphasised that some, such as apples, grapes, and oranges, should remain affordable for the general population. The government is prepared to take policy measures to maintain prices within the reach of ordinary consumers. However, he noted that there is no need to reduce tariffs on luxury fruits that are excessively expensive.

The minister also stressed the importance of the private sector in driving business within a free-market economy. "The government's role is to ensure a favourable environment for trade and investment and to guarantee that markets operate smoothly. At the same time, authorities must ensure that businesspeople are not unduly harassed during market monitoring," he said.

Addressing traders in the context of Ramadan, Muktadir urged them to prioritise public interest by supplying goods at fair prices, calling it a socially positive example. He noted that edible oil markets have remained relatively stable this Ramadan, a positive development compared to previous decades, and thanked wholesalers, retailers, and other stakeholders for their cooperation.

The minister, however, expressed concern over instances where traders charge excessive prices under the pretext of limited sales despite adequate edible oil supply. He said his visit to Khatunganj was partly to hear the views of traders on this matter.

The meeting, chaired by Md Abdus Salam, president of Khatunganj Trade and Industries Association, also featured special addresses by Mahbubur Rahman, secretary of the Ministry of Commerce, and Mohammad Zahidul Islam Minya, deputy commissioner of Chattogram District. Present were wholesale market leaders, government officials, and media representatives. After the session, Minister Muktadir held further discussions with regional and district administration officials and business leaders.