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Editorial

Govt to fix prices of 9 commodities

Ensure exemplary punishment for profit-mongers


Bangladeshpost
Published : 31 Aug 2022 08:26 PM

The government will fix the prices of nine essential commodities to ease public sufferings. The products are rice, flour, flour (fine), edible oil, sugar, lentil, onion, mild steel (MS) products and cement. 

The commerce ministry has noticed that the prices of these commodities have gone out of purchasing capacity recently as some greedy traders are still taking unfair advantage of the Russia-Ukraine war, sanctions and counter sanctions alongside the ongoing Covid-19 situation. So, the Bangladesh Trade and Tariff Commission, an autonomous national statutory body, which is responsible for protection of domestic industry and regulation of import, determines the reasonable price of edible oil. Similarly, the fair price of some other products will be fixed within the next 15 days after sitting with the traders, Commerce Minister Tipu Munshi on Tuesday said. 

If the price of any other products increases illogically, the government will also fix the price of the product. If anyone is found charging more than the prescribed prices, legal action will be taken against him. The person or businessman accused in the case can be jailed for three years. 

Immediate action should be taken 

against the greedy traders and fraudulent

 business syndicates responsible for the

 price hike of essential commodities

Different organisations including Directorate of National Consumer Rights Protection (DNCRP) continued conducting regular operations against the ill-practice. However, it failed to do the job and stabilise the market. In case of violation of the price fixed by the government at any level, authorities concerned have been instructed to take legal action and fine the person or business. All agencies, in charge, at the field level, including the DNCRP, and Bangladesh Competition Commission, have been given a clear order to file a case if a trader is found to be manipulating the govt-approved fixed rate.

We applaud the government’s steps to bring down prices of essentials to keep them within tolerable level of ordinary consumers. But the government will have to intensify the market monitoring to oversee whether traders sell the daily essentials at a price fixed by it. 

Immediate action should be taken against the greedy traders and fraudulent business syndicates responsible for the price hike of essential commodities. W condemn the heinous activities and demand exemplary punishment of the greedy traders and fraudulent business syndicates.

When country faces any crisis or sets to celebrate any festival, a section of greedy traders sketch a blueprint that how the people’s pockets can be cut cashing the crisis and festivals as well. We believe if the government brings these dishonest traders to book and ensure exemplary punishment for them the commoners will not suffer from price hike.