Some businesses are making outrageous profits by controlling supply, pricing: CAB
Some businesses are making outrageous profits by controlling the supply and pricing of all commodities, says Ghulam Rahman, president of the Consumers Association of Bangladesh (CAB).
"These business syndicates are looting thousands of crores of taka from the consumers' pockets by creating a supply crisis of daily products," said Ghulam while reading out a written speech at a press conference on rising commodity prices and what to do at the National Press Club on Tuesday (11 July).
"The current situation of commodity prices in the market did not reach this level in a day, it cannot be controlled immediately either," Ghulam said.
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He added syndicates are controlling the prices of edible oil, sugar, onion, ginger, green chillies etc as they please. "Due to the lack of competition in the market, these companies are determining the price and supply of products and making ridiculous amounts of profit."
