Traders’ willingness and government’s strong monitoring will ensure stable price during Ramadan: DCCI Seminar
DHAKA, April 15 (NsNewsWire) — Dhaka Chamber of Commerce & Industry (DCCI) organized a seminar on “ensuring rational price of essential commodities along with favorable law & order situation during the month of Holy Ramadan” at DCCI on 15 April, 2018. Minister for Home Affairs Asaduzzaman Khan, MP was present as the chief guest while President of Consumers Association of Bangladesh (CAB) Ghulam Rahman was present as special guest.
DCCI President Abul Kasem Khan in his welcome address said that according to TCB, prices of essential commodities have been increased to 17.51% between April and May in 2017. The reasons behind this price spiral were traditional supply chain management, unabated stocking, lack of market monitoring, extortion in transportation sector, excessive traffic congestion, increase of transportation cost. This year the average inflation rate is 5.82% and the food inflation is already 7.13%. He said people now a days may change their food habit specially in the month of Ramadan as it will help sustainable commodity price in the market. He said if government reduces tariff and duty on essential consumer products, traders will be able to reduce the prices of those goods. He also urged the law enforcement agencies to strongly handle extortion in transportation sector as well as manage traffic jam in the city and highway. Before Ramadan, speedy Customs clearance of essential commodity items mostly used in the month of Ramadan in the ports can ease the price hike.
Home Minister Asaduzzaman Khan, MP urged the businessmen to do their business in an ethical manner throughout the year specially during the month of Ramadan. Law enforcement agencies will not spare any unscrupulous traders if found, he said. He also said that government will show zero tolerance to the extortionists no matter he or she is a police member or civilian. He said that if a policeman is found guilty or corrupt, government stands strong against him and take tougher action immediately. Regarding highway traffic congestion, he requested drivers to abide by all traffic and road safety rules to avoid checking of highway police. Due to checking in the highway, it sometimes create gridlock which is true he said. He requested the drivers of heavy vehicles not to carry over loaded goods as it destroys the roads. He also said that the law and order situation during the month of Ramadan this year will be under control like the previous years. Mobile Court will also be in operation this year to protect contaminated food and ingredients, he said.
President of Consumers Association of Bangladesh Ghulam Rahman said sometimes we see that despite of stable price in the international market only due to uneven price of Dollar, essential commodities in the local market have seen upward trend. He said huge traffic jam, container congestion in the port are some of the reasons behind price spiral. Besides, we have to ensure strong market monitoring system under the government’s initiative. Several mobile courts have been in operation during the month of Ramadan, but we need to make them synchronized and let them work in a result-oriented coordinated manner. He said that import of plum oil is no less than the import of soya bin oil in the country every year. “But where these plum oil goes”, he said. Regarding this he suggested to reform import duty structure of plum oil and soya bin oil. Proper market research needed for identifying real need of essential goods, he said.
Professor of Department of Criminology, University of Dhaka Dr. Zia Rahman presented the keynote paper. he said, in the month of Ramadan we see ‘unholy nexus’ or hidden syndicate who actually try to manipulate the open market situation. These unholy nexus create a gap of demand and supply of essential commodities. He also said that we have to implement ‘Protection of Consumer Rights Act’ and ‘Bangladesh Safe Food Act’ properly. He also urged for establishing ‘Fair Price Monitoring Cell’ to monitor the unscrupulous traders to ensure due punishments. He said if government can specify the real demand of essential commodities well ahead of Ramadan, importers would be able to open their LCs according to the real demand and this is how we can control the market. He said “Price Monitoring & Forecasting Cell” under Ministry of Commerce can play vital role to identify demand and supply gap in the market.
DCCI Directors Md. Alauddin Malik, SM Zillur Rahman, former Senior Vice Presidents Alhaj Abdus Salam, MS Shekil Chowdhury, former Vice President Md. Sirajuddin Malik, fomer Director Alhaj Sharfuddin, Convenor Shamsunnahar, Secretary General of Bangladesh Edible Oil Merchants Association Md. Abul Hashem, Secretary General of Pulse traders association Shafiqur Rahman took part in the open discussion session. The speakers said that the supply of pulse, sugar and edible oil is quite adequate, so there is no reason of price hike of these products in the upcoming Ramadan. They also urged for market research for identifying supply and demand. They also demanded for separate ferry Ghat for specially essential goods laden vehicles. Md. Abul Hashem urged the government to give single digit loan to the wholesalers of essential goods. Transportation cost is increasing day by day which hampers the stable price, he said. Speakers also urged to strengthen Trading Corporation of Bangladesh (TCB). MS Shekil Chowdhury said we are against the unethical businessmen and we need to create transparent market monitoring mechanism for sustainable supply of goods.
DCCI Senior Vice President Kamrul Islam, FCA gave vote of thanks. DCCI Vice President Riyadh Hossain, Directors Hossain A Sikder, Imran Ahmed, KMN Manjurul Hoque, Engr. Md. Al Amin, Mohammad Bashir Uddin, and Secretary General AHM Rezaul Kabir were also present. Press Release