Commerce Secretary Md. Mofizul Islam on Tuesday urged the traders of different specialised business associations to keep stable the prices of essential items ahead or during the month of Ramadan.
He also warned of taking stern action against the ones who will try to make the commodities market volatile.
The secretary also said that the stock of all essential items is plenty at this moment and there is no reason of price spiral in the upcoming month of Ramadan.
He made the remarks at a discussion meeting, organised by Dhaka Chamber of Commerce & Industry (DCCI) at the DCCI auditorium in the capital. Leaders of specialised business associations took part in the open discussion session.
The speakers of this session requested the government to identify the reasons of the price gap between the wholesale and retail markets.
However, the businessmen agreed that the stock of essential commodities is in good condition now and said there is no reason of price hike in the month of Ramadan, starting in next month.
The traders sought the government's help to control extortion and transportation cost.
Speaking on the occasion, the commerce secretary said that due to volatile nature of our market, sometimes price spiral of essential commodities is seen during the month of Ramadan. He also called upon the businessmen to do business in an ethical manner.
DCCI president Osama Taseer, in his welcome address, said that the country has seen price spiral of some of the essential items like chick-pea, sugar, rice, milk, edible oil, dates and grass-pea in the previous years.
Price hike especially in the month of Ramadan may fuel inflation, he commented.
He appreciated the TCB's role due to its selling essential commodities in the open market to break the monopolistic nature.
DCCI Senior Vice President Waqar Ahmad Choudhury gave concluding remarks while Vice President Imran Ahmed, Directors Deen Mohammed, Enamul Haque Patwary, Mohammad Bashiruddin, among others, were present.
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