The country's shop owners have strongly criticised the Directorate of Agriculture Marketing (DAM) for its recent move to fix fair retail prices of 29 products.
In a press conference held in Dhaka, Bangladesh Dokan Malik Samity (BDMS) president Md Helal Uddin said the price fixing by the DAM was inconsiderate and whimsical.
Secretary general Zahirul Haque Bhuiyan, district representations, leaders of different city markets of BDMS, the biggest platform of shop owners, were also present there.
The DAM recently fixed prices of various items, including fish, meat, egg, pulses and vegetables, alongside rates set by commerce ministry for commodities like dates, sugar and soybean oil.
However, Mr Helal said it was impractical to fix prices in a free market economy, adding that such measure was absurd and pointless.
He urged immediate suspension of the notification, emphasising the importance of consumer satisfaction and the necessity for the government to understand the dynamics of market forces.
The BDMS head suggested that the DAM start selling products at the prices it fixed involving its manpower.
Only through this process that they could realise how much small traders make by their daylong hardship, he went on to say.
Mr Helal placed a seven-point demand to the prime minister with an eye to addressing the current situation and ensuring an environment conducive for businesses.
Their demands also include suspending the reckless and meaningless price-fixing notification for 29 products.
The shop owners also demanded ensuring accurate statistics on import and production of essential goods, raising capacity of the Trading Corporation of Bangladesh to import and distribute products.
Reformation of market management and unification of consumer staples under a single authority, ensuring an efficient supply system in line with market demand, reduction in taxes on essential commodities, and providing businesses with a stress-free business environment were other demands.
In a notification on March 15, the DAM fixed prices of 29 products from producer to retail levels.
DAM director general Md Masud Karim said they have fixed the price following section 4(i) of the country's Agricultural Marketing Act 2018.
The law has given the DAM the power for 'determination and implementation of the lowest and reasonable price of agricultural produce'.
According to Mr Karim, all logical factors have been considered while fixing the price from the producers' end to retail level.
However, only onion out of the twenty-nine items, was being sold at the DAM-fixed rate of Tk 65 or below per kilo, according to market sources.