Commerce Minister Khandaker Abdul Muktadir announced on Sunday that the ministry will form a fact-finding committee for investigating the “unreasonable” price disparities between wholesale and retail markets.
The minister made the announcement while speaking as the chief guest at a review meeting titled “Middle East Conflict: Review of Commodity Supply and Price Situation” held in Khatunganj, Chattogram.
Prior to the meeting, Muktadir accompanied by Commerce Secretary Mahbubur Rahman, inspected the price situation at the Khatunganj wholesale market.
Minister Muktadir noted that unacceptable price gaps are often observed between the wholesale and retail levels.
To identify the actual causes, the proposed committee will include business representatives, administration officials, and other professionals as required. The committee is tasked with conducting a deep review of the situation and providing necessary recommendations.
Addressing the economic landscape, the minister acknowledged that as Bangladesh remains an import-dependent nation, it is natural for domestic prices to be affected by international price hikes, the rising value of the dollar, or increased transport costs.
However, he emphasised that the government remains vigilant to ensure that prices do not rise unreasonably due to internal management or control issues.
Regarding the import of fruits, the minister stated that the government may consider policy measures to keep common fruits like apples, grapes, and oranges within the reach of the general public. Conversely, he remarked that there is no necessity to reduce duties on expensive luxury fruits.
Muktadir highlighted that in a free-market economy, businessmen are the primary drivers of trade, and the government’s role is to ensure a favourable environment for business and investment while ensuring markets operate without hindrance.
He also directed relevant officials to ensure that businessmen are not subjected to unnecessary harassment during market monitoring.
In light of the holy month of Ramadan, the minister urged the business community to prioritise public interest and ensure the supply of goods at fair prices as a positive example for society. He noted that the edible oil market has remained relatively stable this year compared to recent decades, for which he thanked both wholesale and retail traders.
However, the minister expressed concern regarding some instances where extra prices were charged under the pretext of limited sales despite adequate supply, stating that his visit to Khatunganj was intended to hear the opinions of businessmen on such matters.
The meeting was presided over by Md Abdus Salam, president of the Khatunganj Trade and Industries Association. Commerce Secretary Mahbubur Rahman and Chattogram Deputy Commissioner Mohammad Zahidul Islam Mia attended as special guests. Wholesale business leaders, administration officials, and media representatives were also present.
Following the discussion, Minister Muktadir held a separate exchange of views with Chattogram divisional and district administration officials alongside business leaders.
