‘Stock sufficient, no reason for price hike in Ramadan’

Staff Correspondent

19 April, 2019 12:00 AM printer

CHATTOGRAM: Commerce Secretary Md Mofizul Islam said there is no reason to price hike in the upcoming Ramadan as stocks of commodities require in the holy month are sufficient in the country.

He said this at a meeting while exchanging views with the local businessmen and officials of administration at the conference room of Deputy Commissioner’s Office on Wednesday.

The Secretary Mofizul in his speech said that it is not their aim to award financial penalty of crores of taka to the businessmen.

“We want that the consumers get the products at fair price,” he said.

“The businessmen will make profit. But, illegal hoarding and syndication are offence. If the offences take place, there has no alternative to strict enforcement of law,” said the secretary.

“I came here to request the businesspeople to satisfy consumers through selling goods at fair price after making less profit,” he said.

Mofizul also warned that stern action will be taken if anyone tries to adulterate food during the Ramadan.

The traders at the meeting said that the price increases due to rise in demand during the Ramadan.

The businessmen are not only responsible for the price hike as transportation problem, huge profit by retailers and panic buying by the consumers also contribute to it to a larger extent, they said.

Decision for carrying out market monitoring activities and mobile court in the Ramadan was also taken at the meeting.

Chattogram Additional Deputy Commissioner Kamal Hossain presided over the meeting also attended by the Chattogram Additional Divisional Commissioner Shankar Ranjan Saha, Chittagong Chamber of Commerce and Industry President Mahbubul Alam, former Director Mahfuzul Hoque Shah, BSM Group Chairman Abul Bashar, Khatunganj Trade and Industry General Secretary Syed Sagir Ahmed and Consumers Association of Bangladesh Central Committee Vice President SM Nazer Hossain among others.