Market committees should be proactive to prevent corrupt traders: FBCCI

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) urged local market committees to take a proactive stance against dishonest merchants attempting to inflate profits during Ramadan.

Md Amin Helali, FBCCI's senior vice-president, made this call at a meeting between the FBCCI's market monitoring committee and leaders from the Mohammadpur Town Hall kitchen market committee today (27 March).

"Unethical businessmen and those who enable them should be identified and penalised," Helali, also the convener of the FBCCI market monitoring committee, said at the meeting. "Report any unscrupulous traders to FBCCI, and we will work with the government to take strict action against them."

The FBCCI senior vice-president said FBCCI is monitoring the market to ensure stability during Ramadan, fulfilling the private sector's responsibility.

"We will collaborate with various government agencies throughout this period," he added. "However, consumer behaviour also needs to change. But consumers also need to change their buying habits. A month's Ramadan shopping should not be done in a day."

Md Amin Helali, expressed concern about the rise of unlicensed businesses operating in the market. He said these outsiders are manipulating prices and disrupting market stability. Controlling the "invisible force" of the market, he believes, is crucial for maintaining normalcy.

Abdul Jabbar Mandal, assistant director of the Directorate of National Consumer Rights Protection, said market committees or traders' associations establish surveillance systems within their markets to maintain stability in commodity pricing.

"However, during the visit, I saw brown sugar being sold at Tk180 per kg ( governemnt set price Tk140) at the shop of Shahjahan Khan, general secretary of Mohammadpur Town Hall Kitchen Market Traders Association," Abdul Jabbar Mandal said. 

Mohammadpur Town Hall Kitchen Market Traders Association President Md Lutfar Rahman Babul pledged their cooperation with the government and FBCCI in controlling market activities.

Following the meeting, FBCCI's market monitoring committee members visited the kitchen market.

During the visit, they observed following discrepancies between market prices and prices set by the Agriculture Marketing Department:
Broiler chicken was sold for Tk200-210 per kg (government-set retail price: Tk175.30), beef was sold for Tk750 per kg (government-set retail price is Tk664.93) Lentils (good quality) at Tk135-140 per kg (government-set retail price: Tk130.50) and Mung dhal at Tk190 per kg (government-set retail price: Tk165.41).