Wednesday, 5 October, 2022

Unilever, City Group sued for unusual price hike

  • Staff Correspondent
  • 23 September, 2022 12:00 AM
  • Print news

Eleven individuals and companies, including Unilever Bangladesh Managing Director Zaved Akhtar and Kazi Farms Managing Zahedul Hasan, have been sued for an abnormal hike in the prices of food items and other essential commodities in the country.

Bangladesh Competition Commission (BCC) has filed the case against the individuals and companies.

Rashid Agro, Belcon Group, City Group, Bangladesh Edible Oil Limited and Paragon Poultry have been sued on a charge of creating an artificial crisis of essential commodities on the markets, BCC officials said.

Unilever Bangladesh Managing Director Zaved Akhtar, Kazi Farms Managing Zahedul Hasan, and Egg Traders Association President Mohammad Aamanullah have been sued for anomalies in the market prices.

BCC Secretary Abdus Sabur told reporters on Thursday that a case has been filed against 11 individuals and companies on a charge of illogically increasing the prices of essential commodities.

“Action will be taken against them as per law,” the official said.

The companies have been called to appear before the BCC in hearing on September 26.

It is known that the case has been filed according to section 15 and 16 of the Competition Commission Act.

Section 15 states that anybody will be penalised if he or she influences market and create a one-sided situation.

The market of rice, oil, flour, eggs, chicken, soap, detergent and toothpaste has been volatile in the country for several months. The Directorate of National Consumer Rights Protection has recently held meetings with manufacturers and marketers of these products, where allegations of abnormal price hikes have been raised.