Effective market oversight urged to protect consumers and businesses

Stakeholders and market observers at a dialogue have emphasised the need for effective market surveillance to protect the interests of both consumers and businesses.

They said consumers across the country continue to suffer due to a range of issues plaguing the market, including absence of effective supervision, artificial crises, and low product quality.

Insecurity in the transportation of goods, extortion, and a complicated import process further exacerbate the situation, they pointed out.

Additionally, the lack of proper storage facilities, distrust among the traders and consumers, and lack of fair competition, especially in the essential commodity market, have intensified the sufferings for the buyers as well as sellers, they added.

Dhaka Chamber of Commerce & Industry (DCCI) organised the multi-stakeholders dialogue on 'Consumer and business protection through market monitoring' at its office in the city's Motijheel area on Saturday.

Administrator of Dhaka South City Corporation Md. Shahjahan Mia, Director General of Directorate of National Consumer Rights Protection (DNCRP) Mohammed Alim Akhter Khan, Member of Bangladesh Competition Commission Dr. Md. Akhtaruzzaman Talukder and Member of Bangladesh Food Safety Authority Dr. Mohammad Shoeb spoke at the event presided over by Acting President of DCCI Razeev H Chowdhury.

Razeev Chowdhury said that despite continuous expansion of the country's economic activities, consumers, especially small and medium enterprises, are constantly facing challenges due to price manipulation, artificial crisis, low quality of products, complex regulations and various forms of harassment in the market. These issues are eroding consumer confidence, while ethical businesses struggle to survive in an increasingly unfair competitive environment.

To deal with the prevailing situation, he laid emphasis on the formulation and effective implementation of an integrated framework of market supervision and the creation of an accountable and competitive market monitoring system.

DNCRP Director General Alim Akhter Khan said that the involvement of middlemen often leads to price hikes in the market, and emphasised the need for coordinated efforts by government agencies to ensure effective market control.

He said although the issue of effective market supervision is very important, but the reality is that 19 offices under his directorate currently have no officers. So with limited workforce, it is hard to monitor the huge market.

Dhaka South City Corporation (DSCC) Administrator Shahjahan Mia said that the reputation of ethical businesses is sometimes tarnished by the actions of a small number of dishonest traders.

He urged ethical businessmen to take a proactive role in identifying and taking action against such misconduct.

Dr. AkhtaruzzamanTalukder said that ensuring a fair competition in the market will bring benefits not only to the consumers but also to the traders. Making adequate information available and regular research, related to the supply and actual demand of products, can play an effective role in preventing unfair competition in the market, he added.

Trade body representatives, DCCI Directors Md. Zamsher Ali, Enamul Haque Patwary, former Senior Vice President Abdus Salam also spoke. DCCI Vice President Md. Salem Sulaiman was also present.

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