FBCCI hosts discussion meeting with traders

FBCCI President Calls for Supply Chain Stability and Fair Profits Ahead of Ramadan

February 28, 2024, Dhaka: Mahbubul Alam, President of the The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade organization of the country, has called on the traders to ensure the Supply Chain Stability and Fair Profits ahead of the month of Ramadan.

The FBCCI president made this call during a discussion meeting with the retailers and wholesale traders, manufacturers, and importers of essential commodities held on Wednesday (February 28, 2024) at the FBCCI Icon in Motijheel, Dhaka.

Mahbubul Alam urged leaders of the market associations to be watchful against any attempts to manipulate prices through artificial crises. He stressed the need for a robust monitoring system to ensure consistency in product prices from wholesale to retail levels. He warned of strict actions against those found guilty of creating artificial shortages or engaging in manipulative practices.

'In the month of Ramadan, business activities must continue responsibly. Just as in other countries, fair pricing and discounts should prevail during festive seasons. Profiteering at the expense of consumers will not be tolerated,' he said.

Mahbubul Alam echoed the sentiment expressed by the Commerce Minister regarding market monitoring during Ramadan. He advocated for the involvement of market committee leaders rather than law enforcement agencies in overseeing price regulations.

In his closing remarks, FBCCI senior vice-president Md. Amin Helaly said, FBCCI is not for any dishonest businessman. Action will always be taken against those who create artificial crises for their own will. FBCCI will also monitor the market during Ramadan, he added.

Earlier, Mill owners, wholesalers, retailers, and other market associations have assured that there will be no shortage of edible Oil, sugar, pulses, gram, dates, and other products in the market during Ramadan.

Among Others, FBCCI Vice President Md. Khairul Huda Chopol, Mohammad Anwar Sadat Sarker, Md. Munir Hossain, FBCCI directors, representatives of various government institutions including Bangladesh Bank, Bangladesh Food Safety Authority, National Directorate of Consumer Rights Protection, representative of corporate institutions, mill owners, retailers, wholesalers and retail business owners, business leaders and other dignitaries were present at the meeting.