Mahbubul Alam, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), on Wedneday called upon the traders and businesses to ensure supply chain stability and fair profits ahead of the Holy Month of Ramadan.
The FBCCI president made this call during a discussion with the retailers and wholesale traders, manufacturers, and importers of essential commodities at the FBCCI Icon in the capital's Motijheel area in Dhaka.
Mahbubul urged leaders of the market associations to be watchful against any attempts to manipulate prices through artificial crises. He stressed the need for a robust monitoring system to ensure consistency in product prices from wholesale to retail levels.
He warned of strict actions against those found guilty of creating artificial shortages or engaging in manipulative practices. "In the month of Ramadan, business activities must continue responsibly. Just as in other countries, fair pricing and discounts should prevail during festive seasons. Profiteering at the expense of consumers will not be tolerated," he said.
Mahbubul also echoed with the sentiment expressed by the State Minister for Commerce regarding market monitoring during Ramadan. He advocated for the involvement of market committee leaders rather than law enforcement agencies in overseeing price regulations.
In his closing remarks, FBCCI senior vice-president Md. Amin Helaly said that FBCCI is not for any dishonest businessman.
“Action will always be taken against those who create artificial crises for their own will.
FBCCI will also monitor the market during Ramadan," he added.
Earlier, mill owners, wholesalers, retailers, and other market associations have assured that there will be no shortage of edible Oil, sugar, pulses, gram, dates, and other products in the market during Ramadan. FBCCI vice presidents Md. Khairul Huda Chopol, Mohammad Anwar Sadat Sarker, Md. Munir Hossain, FBCCI directors, representatives of various government institutions including Bangladesh Bank, Bangladesh Food Safety Authority, Directorate of National Consumer Rights Protection, representative of corporate institutions, mill owners, retailers, wholesalers and retail business owners, business leaders and other dignitaries were present at the meeting.