Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade organisation of the country urged market committee leaders to oversee and monitor price regulations, stressing that profits should be fair.
He stated, “We do business to make a profit, but that profit must be fair.” He emphasised that during Ramadan, business activities should continue responsibly, with fair pricing and discounts prevailing.
He urged this during a meeting with retailers, wholesale traders, manufacturers and importers of essential commodities at the FBCCI office in the capital Dhaka on 28th February.
FBCCI senior vice-president Md Amin Helaly reiterated that FBCCI was against any dishonest business practices. He assured that action would be taken against those who create artificial crises. FBCCI will monitor the market during Ramadan to ensure stability.
Mahbubul Alam advised traders to maintain a stable supply chain and equitable profits throughout the month of Ramadan. To put an end to extortion in the delivery of commodities, strict regulations would be required.
He asked businesspeople to notify the FBCCI of any extortion that occurs while goods are being transported. He promised that no one will be spared in their fight against extortionists. They will talk to the Government about the problem if necessary to find a solution.
Alam also issued a warning against trying to use manufactured crises to influence prices and pledged harsh punishment for those found guilty.
The meeting was also attended by FBCCI vice presidents Md Khairul Huda Chopol, Mohammad Anwar Sadat Sarker, Md Munir Hossain, FBCCI directors, representatives of various government institutions, mill owners, retailers, wholesalers, business leaders and other dignitaries.
