The Ministry of Commerce (MoC) has started an intensive market monitoring drive to curb price manipulations during the upcoming Ramzan.
“The ministry has been conducting 14 market monitoring teams in the capital started from June 13. It will continue up to the last day of Ramzan,” a senior MoC official told The New Nation On Wednesday.
The teams comprising officials from the ministry of agriculture, home and industries, both the city corporations, FBCCI, local administration, Dhaka Metropolitan Police (DMP), Directorate of National Consumers Rights Protection (DNCRP) have been visiting the markets. “The market monitoring including mobile courts is expected to shield the traders’ bid to hike commodity prices artificially, a common practice by market ‘cartels’ during the holly month of Ramzan,” the official said.
Besides, separate teams will also conduct such drives at the divisional headquarters and district levels to curb the efforts of price hike by dishonest traders.
“The divisional and district administration will also conduct regular market monitoring drive and mobile courts operations and examine supply situation so that market prices remain stable,” he added.
The monitoring teams have started visiting the city’s kitchen markets and examine the price lists at the wholesale and retail level, check food adulteration, proper weighting, price tags on packed commodities and BSTI authorization for marketing a product.
“If the traders found guilty, they will be penalized or face detention as per the rules of Consumers Rights Protection Act,” he said. The official said the government intelligence agencies would also submit report on market scenario to the MoC on every Thursday till the last day of Ramadan.
He also expressed satisfaction over the present demand, supply and stock situation of essential commodities and hoped that the market would remain stable during the fasting month. Apart from the MoC’s efforts, the Ministry of Home Affairs has already held meetings with the key commodity importers of the country to ensure supply of essential during the month of Ramzan. It also asked the district administrations to take necessary measures to stop toll collection while carrying goods to the capital during the fasting month. “We have already taken measures to stop any attempt of price manipulation by the dishonest traders,” a senior Home Ministry official said.
He added: As part of the initiative the ministry has also intensified market monitoring engaging intelligent agencies.
“Any attempt of price manipulation would be foiled and the manipulators would be taken to task if any one is found guilty,” he said. Meanwhile, prices of most commodities started soaring in the market well ahead before the holly Ramzan, causing frustration to the consumers.
The country’s Muslim devotees are preparing for Ramzan fasting, starts from 27th of the current month.
Despite adequate supply, prices of edible oil, sugar, onion, gram, dates, potato, eggs, broiler chicken and vegetables have already marked rise in the city’s kitchen market.
“A business syndicates comprising big importers are raising prices of commodities when their prices are declining in the international market,” alleged a trader at Moulvi Bazar, which house the city’s largest wholesale commodity market.
Traders said cartels are dictating prices of the commodities from behind the scene with a view to making windfall gain making the commodity market volatile well ahead of the Ramzan.
