The increase in the price of goods has made the life of the lower class and middle class miserable. People's savings have bottomed out or run out. They are taking loans. Excessive profit and excessive greed of traders causing price hikes, said Consumers Association of Bangladesh (CAB) president Golam Rahman.
He came up with the remarks at a debate programme on market monitoring to protect consumer rights organised by the National Directorate of Consumer Rights Protection (DNCRP) and Debate for Democracy at Bangladesh Film Development Corporation (BFDC) in the capital on Thursday.
He said that 62 per cent of the cabinet members are businessmen; they have predominance over politicians in parliament and government. It is not reflected in policy formulation, implementation and monitoring.
Bangladesh Bank fixed the interest rates and currency exchange rates on the advice of donors, but inflation continues to rise. The government should prioritize curbing inflation. Businessmen have become Frankenstein, he added.
He also added, “They have to be stopped with a strong hand. Consumers caught in the fire of commodity prices cannot be relieved by market monitoring alone. The government says there is no syndicate, but if a few traders control the market together.”
DDNCRP Director General H. M. Safikuzzaman was present as special guest while chairman of Debate for Democracy Hasan Ahmed Chowdhury Kiran presided over the event.
Hasan Ahmed Chowdhury Kiran said, “Syndicate is a name of fear for the common people of the country. Sometimes it seems that not only the common customers but also the government is becoming hostage to this syndicate.”
Despite receiving reports of price gouging allegations against some corporate companies, no action was taken by the authorities concerned. It may seem that the political weakness of the government is behind not controlling the syndicates of big corporate institutions, he added.
