Exercise moderation, sell goods at fair prices

Commerce Minister Tipu Munshi has called on traders to exercise moderation during Ramadan and sell products at fair prices.

Businessmen all over the world offer discounts and make less profits during social or religious festivals but Bangladesh is an exception, he told an event organised by the Directorate of National Consumers Right Protection (DNCRP) at the Bangabandhu International Conference Centre in the capital marking the World Consumer Rights Day on Wednesday.

He said businessmen should not do business only to make profits.

“They have humanitarian responsibilities as well. They should not make profits in a way that increases the suffering of people,” Tipu said.

He also said consumers should not rush to buy products after seeing attractive discounts or enticing advertisements.

They should be aware of their rights before buying products, said the minister.

“If a company offers a motorcycle at Tk 50,000, you should understand that there is a problem. If the production cost of a motorcycle is Tk 1 lakh, how can it be sold at a price lower than that? Consumers should think about this,” he explained.

“We want a participatory market where both consumers and businessmen will act consciously,” added Tipu.

Senior Commerce Secretary Tapan Kanti Ghosh directed the DNCRP to ensure coordination among various government organisations while conducting mobile court operations in kitchen markets.

He said there are many organisations, including Bangladesh Standards and Testing Institution and Bangladesh Food Safety Authority (BFSA), as well as the local government to carry out mobile court operations. “If all of them raid the same market or shop, it will become difficult for traders to do business. Coordination is needed in this regard,” he said.

He further said the rights of both consumers and traders should be protected.

Consumers Association of Bangladesh President Ghulam Rahman said consumers in developed countries are treated as kings of the market because business expansion, profitability, and government stability depend on their behaviour.

The interests of consumers were not prioritised as much as the profits of businessmen were when the free market culture began in Bangladesh in the 90s, he said.

“After that, many laws were passed in the country to protect the interests of consumers. Many institutions, such as DNCRP, BFSA, and Bangladesh Competition Commission, were set up to enforce the laws.

“However, these institutions are not yet as strong and effective as they need to be to protect the interests of consumers,” Ghulam explained.

Acting president of the Federation of Bangladesh Chambers of Commerce and Industry Mostofa Azad Chowdhury Babu said traders are mostly blamed when prices go up but the real picture is different.

There was a spike in commodity prices last year as supply chains had been disrupted due to the Russia-Ukraine war, he said.

“Before that difficulty could be dealt with, gas and electricity prices were increased several times in Bangladesh. This increased production costs, which ultimately impacted consumers,” he explained.

The business leader urged the authorities concerned to either privatise the closed government sugar mills or restart them with the help of foreign funding.

At the programme, the commerce minister handed over prizes and crests to the winners of an essay competition organised on the occasion of the World Consumer Rights Day.

In his welcome speech, DNCRP Director General AHM Shafiquzzaman explained consumer rights in detail and the activities of the directorate.