Businessmen responsible for price hike: CAB

Staff Reporter :
Consumers Association of Bangladesh (CAB) President Ghulam Rahman said the price hike of the daily commodities is the ultimate result of the businessmen’s overgreediness which made our life difficult to bear.

The CAB President said the people from lower, lower middle and middle class are suffering most and it is hard to imagine that what kind of life they are living.

The former bureaucrat said the savings of the people are dying, people are living with borrowing.

He made the comments in a shadow debate competition titled ‘market monitoring to protect consumers right’ organised by debate for democracy as a chief guest held at Bangladesh Film and Development Corporation (BFDC) on Thursday.

The CAB president said that 62 per cent of the cabinet members are businessmen.

Even though businessmen have predominance over politicians in parliament and government, it is not reflected in policy formulation and implementation, monitoring.

Bangladesh Bank fixed interest rates and currency exchange rates on the advice of donors, but inflation continues to rise.

The government should prioritise curbing inflation.

Businessmen have become Frankensteins, he added.

Ghulam Rahman said, they have to be stopped with a strong hand.

Consumers caught in the fire of commodity prices cannot be relieved by market monitoring alone.

The government says there is no syndicate.

But if a few traders control the market together, is it not a syndicate?