Chattogram: Commerce, Industries, Textiles and Jute Minister Khandaker Abdul Muktadir today announced the formation of a Fact-Finding Committee to investigate the unacceptable price gap between wholesale and retail markets. He stated that the Ministry of Commerce will establish this committee to identify the actual causes behind the irrational price differences often observed between the wholesale and retail levels.
According to Bangladesh Sangbad Sangstha, the Minister made this announcement while speaking as the chief guest at a review meeting titled ‘Middle East Conflict: Review of Consumer Goods Supply and Price Situation,’ held at the Khatunganj Trade and Industries Association conference room following his physical inspection of the Khatunganj wholesale market. The committee will consist of business representatives, members of the administration, and relevant professionals, with the primary objective of conducting a deep analysis of market disparities and providing necessary recommendations to the government.
Muktadir emphasized that as Bangladesh is an import-dependent nation, the domestic market is naturally sensitive to global fluctuations, particularly those exacerbated by the ongoing Middle East conflict. He highlighted three main external factors currently affecting prices: hikes in commodity prices on the international market, the appreciation of the US Dollar, and increased transportation and freight costs resulting from regional instability.
The Minister also addressed the issue of foreign fruit imports, detailing a policy stance that distinguishes between essential and luxury items. He identified fruits such as apples, grapes, and oranges as items that should remain accessible to the general public, noting that the government would consider policy interventions to keep the prices of these specific fruits within reach of consumers. However, he explicitly stated that there is no necessity to reduce import duties on high-priced luxury fruits.
Reflecting on the principles of a free-market economy, Muktadir described traders as the driving force of the economy. He defined the government’s role as a facilitator tasked with ensuring a favorable environment for trade and investment while keeping market operations smooth and natural. He issued a directive to officials to ensure that traders are not subjected to unnecessary harassment during routine market monitoring and supervision activities.
The Minister also called upon the business community to treat the holy month of Ramadan as a period of sacrifice and restraint, urging traders to prioritize public interest by ensuring fair pricing, which he noted would set a positive example for society. He provided a positive assessment of the edible oil market, stating that it has remained relatively stable compared to trends of previous decades. While thanking traders for this stability, he expressed concern regarding reports of artificial scarcity or overpricing in certain areas despite a sufficient supply of oil.
The review meeting was presided over by Md. Abdus Salam, President of the Khatunganj Trade and Industries Association, with special guests including Commerce Secretary Mahbubur Rahman and Chattogram Deputy Commissioner Mohammad Zahidul Islam Mia.