Traders take crucial decision to check price hike
Monday, 26 July 2010
Our Correspondent
CHITTAGONG, July 25: Trade body leaders, food grain importers, businessmen and millers today unanimously decided to stop sale of D/O (delivery order) of consumer goods including sugar through brokers or dealers to check price hike at least for two months.The trade leaders and industrialists also urged the government to equalise the duty on import of refined and raw sugar that may facilitate sale of adequate quantity of sugar to meet the extra demand of the holy Ramadan.
The trade body leaders termed today's decision of selling D/Os directly to the traders as "unprecedented".
The suggestions came at a meeting of traders, producers and importers with Chittagong Chamber of Commerce and Industry at the CCCI auditorium Sunday morning.
The opinion exchange meeting chaired by the CCCI president MA Latif MP was attended by representatives of trade associations, wholesalers and mill owners of the port city.
The meeting also decided that the D/Os sold to the traders should bear the "date of issue" and "the date of delivery" and the issuers must comply with the date of delivery and volume of goods failing which the issuers are bound to pay the bank interest thus incurred.
The D/O issuers will mention its capacity to make delivery of the volume of goods in a day and in form the CCCI about it regularly, the leaders said.
The CCCI leaders also requested the importers and millers to sell goods at the rate which was 15 days back from now for the interest of the common people.
Leaders said that the decisions were taken in view of the fact that vested interest groups every year raise the prices of essential for making money at the cost of the sufferings of the common men.
CCCI senior vice president MA Salam, vice president SM Shafiul Huq, director SM Abu Tayab and FBCCI director SM Nurul Huq among others addressed the meeting.
CHITTAGONG, July 25: Trade body leaders, food grain importers, businessmen and millers today unanimously decided to stop sale of D/O (delivery order) of consumer goods including sugar through brokers or dealers to check price hike at least for two months.The trade leaders and industrialists also urged the government to equalise the duty on import of refined and raw sugar that may facilitate sale of adequate quantity of sugar to meet the extra demand of the holy Ramadan.
The trade body leaders termed today's decision of selling D/Os directly to the traders as "unprecedented".
The suggestions came at a meeting of traders, producers and importers with Chittagong Chamber of Commerce and Industry at the CCCI auditorium Sunday morning.
The opinion exchange meeting chaired by the CCCI president MA Latif MP was attended by representatives of trade associations, wholesalers and mill owners of the port city.
The meeting also decided that the D/Os sold to the traders should bear the "date of issue" and "the date of delivery" and the issuers must comply with the date of delivery and volume of goods failing which the issuers are bound to pay the bank interest thus incurred.
The D/O issuers will mention its capacity to make delivery of the volume of goods in a day and in form the CCCI about it regularly, the leaders said.
The CCCI leaders also requested the importers and millers to sell goods at the rate which was 15 days back from now for the interest of the common people.
Leaders said that the decisions were taken in view of the fact that vested interest groups every year raise the prices of essential for making money at the cost of the sufferings of the common men.
CCCI senior vice president MA Salam, vice president SM Shafiul Huq, director SM Abu Tayab and FBCCI director SM Nurul Huq among others addressed the meeting.