Govt to go tough on price hike and hoarding: State Minister of Commerce

DE Online Desk
State Minister for Commerce Ahsanul Islam Titu on Thursday called upon businesses not to increase prices of essentials, especially oil and sugar, during holy Ramadan by creating an artificial crisis and hoarding.
He also warned that the government would not hesitate to be strict on those who try to raise the prices of goods by hoarding ahead of Ramadan.
He was speaking as chief guest at the inaugural ceremony of the TCB product sale programme for the month of January among 10 million (one crore) family card holders from low-income group across the country.
The Trading Corporation of Bangladesh (TCB) organised the programme in Mohammadpur of the capital on Thursday.
The state minister said that the government won’t allow the creation of an artificial crisis in the market by keeping illegal stocks of products. The government will take strict action against those who will try to destabilise the market by unfairly increasing the price of goods in the pursuit of higher profits.
Titu also said, “It is not our intention to intimidate or fine. Our objective is to ensure that all products reach to consumers easily from the manufacturers and exporters through the retailers.”
Establish a smart market management and those who do honest business will be given all kinds of support by the government, he said amid a warning that action will be taken against traders who take advantage of price hikes.
Tapan Kanti Ghosh, Senior Secretary of the Ministry of Commerce spoke as a special guest on the occasion. In addition, TCB Chairman Brigadier General Md Ariful Islam and Councilor of ward no 29, Dhaka North City Corporation Salim Ullah (Salu), among others, spoke at the function.