FBCCI's move to contain price hike of essentials in Ramadan
Monday, 3 August 2009
FE Report
The county's apex chamber body will monitor the city's kitchen markets during the month of Ramadan to keep prices of essentials stable in the holy month, FBCCI sources told the FE Sunday.
Both retailers and wholesalers raise the prices of essentials during the month of Ramadan taking advantage of a high demand for essentials in the holy month.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) leaders said they will mainly concentrate on whether any retailer or wholesaler is involved in price manipulation during Ramadan.
"We will monitor prices of essentials and try to stop price manipulation during the month," said Kamal Uddin Ahmed, chief of FBCCI Price Monitoring Cell.
Mr Kamal said FBCCI teams will conduct month-long regular visits to the kitchen markets in the city.
The FBCCI team led by its president Annisul Huq had visited different city markets last year.
FBCCI price monitoring team said the prices of essentials excepting lentil (mashur daal) will remain stable as there are adequate stocks in the country.
Mr Kamal however said: "We will ask for cash memos from the wholesalers during our drives to check whether the retailers are selling it within the acceptable profit ratio."
Citing his experiences in the last year's market monitoring, Mr Kamal said they found that a number of 'Adaratdars' (wholesalers) did not give cash memos to the retailers.
"We hope the government will extend help so that the FBCCI monitoring team ensures the issuance of cash memos."
The FBCCI will organise a meeting of all the leading wholesalers and importers of the city with commerce minister Faruk Khan on Thursday.
FBCCI leaders said it will also meet with the city's retailers and wholesalers before Ramadan to be acquainted with the market situation and discuss ways and means to contain the price hike during Ramadan.
The county's apex chamber body will monitor the city's kitchen markets during the month of Ramadan to keep prices of essentials stable in the holy month, FBCCI sources told the FE Sunday.
Both retailers and wholesalers raise the prices of essentials during the month of Ramadan taking advantage of a high demand for essentials in the holy month.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) leaders said they will mainly concentrate on whether any retailer or wholesaler is involved in price manipulation during Ramadan.
"We will monitor prices of essentials and try to stop price manipulation during the month," said Kamal Uddin Ahmed, chief of FBCCI Price Monitoring Cell.
Mr Kamal said FBCCI teams will conduct month-long regular visits to the kitchen markets in the city.
The FBCCI team led by its president Annisul Huq had visited different city markets last year.
FBCCI price monitoring team said the prices of essentials excepting lentil (mashur daal) will remain stable as there are adequate stocks in the country.
Mr Kamal however said: "We will ask for cash memos from the wholesalers during our drives to check whether the retailers are selling it within the acceptable profit ratio."
Citing his experiences in the last year's market monitoring, Mr Kamal said they found that a number of 'Adaratdars' (wholesalers) did not give cash memos to the retailers.
"We hope the government will extend help so that the FBCCI monitoring team ensures the issuance of cash memos."
The FBCCI will organise a meeting of all the leading wholesalers and importers of the city with commerce minister Faruk Khan on Thursday.
FBCCI leaders said it will also meet with the city's retailers and wholesalers before Ramadan to be acquainted with the market situation and discuss ways and means to contain the price hike during Ramadan.