Staff Reporter :
Asif Mahmud Shojib Bhuiyan, Labor and Employment Adviser, said on Wednesday that strict action would be taken under the Special Powers Act against those involved in syndicates inflating commodity prices.
Speaking at the BSRF views exchange meeting held at the Secretariat Media Center, the adviser emphasised that syndicates manipulating prices would face legal consequences, including the potential arrest of key figures from corporate entities responsible for intentional price hikes.
The event was organized by the Bangladesh Secretariat Reporters Forum (BSRF).
Adviser Asif highlighted several factors behind rising commodity prices, including supply-demand imbalances caused by crop losses due to floods and the influence of syndicates on other goods.
He confirmed that efforts were underway to dismantle these syndicates, pointing out that the Consumer Rights Protection Act had been weakened by previous governments.
He criticized the current enforcement of the law, stating that the small fines imposed by the Ministry of Commerce were insufficient to deter malpractice.
He suggested revising the law to reinstate its earlier capacity, which allowed for jail sentences for violations.
The adviser stressed the need to arrest key syndicate members under the Special Powers Act and indicated that the government had records of certain corporations involved in manipulating prices.
He also pointed out that direct sourcing from farmers by young entrepreneurs could help reduce prices, and the government plans to encourage this model in the coming days.
Regarding the state-run Trading Corporation of Bangladesh (TCB), he mentioned that operations had slowed after the removal of TCB dealers linked to the Awami League.
However, he assured that TCB’s efforts to provide goods at reasonable prices would soon be strengthened to put pressure on syndicates.
In response to a question, the adviser acknowledged that previous governments had allowed business interests to maintain syndicates through political connections. He added that efforts were underway to identify and dismantle these networks.
Regarding extortion in Karwan Bazar, he noted that while arrests had been made, replacements quickly filled the gaps.
He called for cooperation from political parties to eradicate such practices, stressing that without their support, the transformative changes many had sacrificed for would not be achieved.
The adviser announced an all-out campaign against both extortion and price-hiking syndicates.
He expressed concerns about the state of the economy, indicating that while the Finance Adviser was addressing challenges effectively, it could take up to 10 years to reverse the damage done over the past 16 years.
The dialogue was presided over by BSRF President Fasi Uddin Mahtab and moderated by BSRF General Secretary Masudul Hoque.
On another note, the Director General of the Directorate of National Consumers’ Rights Protection (DNCRP) said that corporate producers and farmers would directly supply eggs to warehouses at government-set prices starting Wednesday.
This announcement followed a meeting with egg producers and suppliers on Tuesday.
He said that from Wednesday, eggs would be sold at Tk 10.58 at the production level, Tk 11.01 wholesale, and Tk 11.87 retail, as per government-fixed prices. On September 15, the government had set new prices for chicken and eggs.
When asked if producers would honor their commitments, the Director General said: “We have clarified that there are two aspects: awareness and enforcement. If enforcement is required, we will act accordingly.
However, our primary goal is to ensure that products reach consumers at reasonable prices.
“Whether we’ve been 100% successful is something we will see over time.
Trust or distrust is a matter of ethics. If promises aren’t kept, it’s an ethical failure.”
Abdul Jalil, Director of the DNCRP, added: “Starting tomorrow (Wednesday), eggs from production hubs like Tangail, Mymensingh, Gazipur, and Kishoreganj will be directly delivered to the Tejgaon wholesale market by corporate producers and farmers, bypassing multiple intermediaries.
They have pledged to supply eggs at government-set prices directly to Karwan Bazar.”
