Dhaka: Commerce Minister Khandakar Abdul Muktadir has announced that the government has intensified regular market monitoring efforts to address the price discrepancies between wholesale and retail markets. The Ministry of Commerce is taking steps to prevent unscrupulous practices from distorting market dynamics.
According to Bangladesh Sangbad Sangstha, special task forces have been established at the district level to ensure consistent market monitoring and conduct regular inspections. These efforts are part of a broader strategy to curtail market manipulation and ensure fair pricing for consumers. The minister communicated these initiatives while responding to a written query from opposition member Mohammed Kamal Hossain in the House.
Nationwide efforts are being spearheaded by the Directorate of National Consumer Rights Protection, focusing on combating overpricing, hoarding, and fraudulent activities. The government is actively taking legal actions, including fines and other punitive measures, against those imposing unjustifiably high retail prices.
In Dhaka, four daily inspections are conducted by the Directorate of National Consumer Rights Protection, supplemented by two additional checks by the Ministry of Commerce. If any abnormal price gaps are detected, immediate corrective actions are carried out through mobile courts and task forces.
District-level task forces are actively monitoring to ensure that market prices remain reasonable and to reduce the gap between wholesale and retail prices. The Bangladesh Competition Commission is also working to prevent anti-competitive behaviors such as syndicates and collusive price-fixing to maintain fair market competition.
The minister highlighted the government’s efforts to improve supply and import processes, addressing banking complexities and ensuring smooth supply chains. These measures aim to mitigate price increases driven by global market trends, exchange rate changes, and rising transportation costs.
The Trading Corporation of Bangladesh (TCB) is intervening directly in the market by selling essential commodities at subsidized rates, targeting low-income groups. Under this programme, items like rice, soybean oil, sugar, and lentils are made available at reduced prices.
The minister reaffirmed the government’s commitment to maintaining market stability and ensuring that the prices of essential commodities remain affordable for the general populace.