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The Financial Express

FBCCI asks traders not to make excessive profit on essential items

| Updated: October 18, 2021 09:00:11


File photo used for representational purpose. (Collected) File photo used for representational purpose. (Collected)

Amid the soaring prices, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jasim Uddin has urged businesses not to make an excessive profit on essential goods considering the situation.

He said the Covid-19 pandemic hit the earning of almost all people triggering the price hike of essentials, which ultimately added to the commoners’ woes, reports UNB.

The FBCCI president said this at a views-exchange meeting with importers, wholesalers and traders at the FBCCI office in the capital on Sunday.

“Of course, you’ll make profit from your businesses, but do not do excesses,” Jasim told the businesses.

He expressed concerns about the discrepancies in the pricing of similar goods based on areas and markets.

“Suppose a one-kg cucumber is sold at Tk 10 at Karwan Bazar while Tk 50 in Gulshan area,” Jasim said urging the business people to stop this practice.

He said often blame is passed on to the business community as a whole but every businessman is not a profit monger. “There are some dishonest businesses who always try to cash in on the situation,” the FBCCI president added.

The consumers of the country have been suffering from the soaring prices of essentials, such as sugar, edible oil, and vegetables amid the onslaught of the coronavirus pandemic.

Besides, he said, the price hike of energy and commodities and depreciation of local currency have been fuelling the inflationary pressure on consumers.

Many of the businesses that attended the meeting said extortion by vested quarters contributed to the price spirals of many items.

A businessman who attended the meeting told the correspondent not to be named that he has to pay a toll of Tk 9,000 per truck for the van to reach Dhaka from Bagura.

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