President M Abdul Hamid today asked the
government to take stern actions against fraudulent business syndicates
responsible for the price hike of essential commodities.
The President said, "You (businessmen) must be careful. The government needs
your cooperation so that the image of the whole business community is not
tarnished by some corrupt people."
He came up with the instructions while virtually addressing the "National
Export Trophy-2017-18" from Bangabhaban this afternoon.
He added: "In a market economy, the prices of essentials' are determined by
the state considering the supply and demand of products. But, now it is not
the lack of coordination between the supply and demand; rather products'
prices are being increased by some dishonest syndicates. It is not desirable
Citing examples of several countries across the world, President Hamid said
with the advent of various festivals in Bangladesh, including Ramadan and
Eid, the prices of some products go up sharply. But, in many countries, the
prices of products usually go down on the occasion of national, religious and
"As soon as the festivals come here, a section of small and giant traders
wait how the people's pockets can be cut capitalizing the festivals," he
The President carefully advised all concerned to adopt a pragmatic plan
collecting accurate data on demand, production, stocks and shortages of goods
so that no vicious circle can aggravate human misery through manipulation.
The event was jointly organised by the Ministry of Commerce and the Export
Promotion Bureau (EPB) with Commerce Minister Tipu Munshi in the chair at the
Radisson Blu Water Garden Hotel here.
Mentioning the role of traders in trade and investment in the free market
economy, the President said the government never wants to interfere in
anyone's business, but when the public interest is hampered by the greed for
huge profits, the government is compelled to intervene in the matter.
Terming doing business as a good profession in the eyes of Islam, Abdul Hamid
said, "As a trader, producer, investor or exporter, you (businessmen also
have a responsibility towards the society. We shouldn't think of only our own
benefit without thinking of the suffering to mass people."
The president said, "People want you to do business at a reasonable profit.
We must give up the mentality of becoming rich overnight and set a shining
example of honesty and dedication in every aspect of the business. "
This is their (people) expectation so that the people do not fall prey to
your (businessmen) excessive profits, said Abdul Hamid.
Recognizing the contribution of exporters in keeping the country's economy
dynamic, the President said the National Export Trophy entitled "Bangabandhu
Sheikh Mujib Export Trophy" was a matter of dignity and it would inspire
other exporters as well in days to come.
The President said in the "Eighth Five-Year Plan, the country has adopted an
export-led growth strategy for economic development and a development plan
with utmost importance on exports.
"By increasing exports, we will be able to create more jobs, attract new
investment and, above all, increase national income also", President Hamid
The President also called upon the people concerned to focus on boosting
Senior Secretary of the Commerce Ministry Tapan Kanti Ghosh, FBCCI president
Md Jasim Uddin, 'Bangabandhu Sheikh Mujib Export Trophy award winner ASM
Rafikul Islam Noman, managing director of Zaber and Zobaer Fabrics Limited
also spoke on the occasion.
EPB Vice-Chairman AHM Ahsan delivered the welcome address.
Parliament members, dignitaries, business leaders, and high civil and
military officials were present at the function.
Some 66 trophies - - gold, silver and bronze categories---were handed over to
66 companies at the ceremony for their outstanding performance in the export
Source: Bangladesh Sangbad Sangstha (BSS)