The price monitoring committee chief of the country's apex trade body, Kamal Uddin Ahmed, Thursday said syndicates among businessmen are active in Bangladesh 'in limited scale' resulting in artificial hike of commodity prices across the country.
"Syndicate takes place in limited scale," he said during a meeting arranged by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to sort out ways for containing the price hike of essentials in the coming Ramadan.
The meeting chaired by FBCCI president Annisul Huq decided on opening of fair-price shops in every district by the chamber bodies to provide commodities at reasonable prices.
But the meeting could not figure out the total number of fair price shops to be operated by the district chamber bodies during Ramadan.
"We will sit again on August 11 next when retailers and wholesalers would also be present," said the FBCCI president adding, "The number of outlets and a relevant action programme would be decided then."
Speaking on the occasion FBCCI director Jalaluddin Ahmed said the price gap of commodities between retail and wholesale levels is extremely high.
If one kg eggplant is sold at Tk 10 in wholesale market it is resold at over Tk 20 per kg in the retail market, he said as an instance.
"This happens mainly because the price monitoring committees in retail markets fix up prices of different commodities and ask the retailers not to sell them at prices lower than their fixed prices," said Ahmed who represented three such committees in three different retail markets.
If one wants to sell one's commodity at a price lower than the committee-fixed price he faces trouble from the committee, he alleged stating his experiences while working as a committee member.
Deputy General Manager of S Alam Group Kazi Salahuddin Ahmed also echoed the same view indicating presence of syndicate in the market.
"We wanted to supply commodities at reasonable prices considering the misery of the people of lower-income group. But others asked us not to sell items at our desired rate which is lower than that of others," the S Alam Group senior official alleged.
He said S Alam Group markets edible oil and sugar in the local markets.
During the meeting the FBCCI president was critical about the business people who increased the prices of essentials immediately after their hike in the international market but did not reduce the prices when the prices declined globally.
"The businessmen usually argue that they cannot reduce the prices instantly after fall in international market due to stocks of items purchased at higher prices," said an FBCCI leader.
But to have ideas on stocks the businessmen must have to maintain memos on their purchases and sales, he suggested.
The FBCCI president also urged the businessmen to keep the prices as low as they can during the upcoming Ramadan.
Responding to his call the businessmen said they would not increase the prices of essentials rather reduce these during Ramadan. They however did not agree to make commitment in this connection.
District leaders of chamber bodies, FBCCI leaders and businessmen took part in the meeting.
