The Directorate of National Consumer Rights Protection (DNCRP) has fined Abdul Monem Sugar Refinery on Sunday for selling sugar at a higher price than the government fixed rate.
While monitoring the market situation of sugar and edible oil, DNCRP found that Igloo brand sugar produced by Abdul Monem Sugar Refinery in Karwan Bazar was being sold for Tk 108, which is Tk 13 more than the government fixed price of Tk 95.
An explanation was sought from Abdul Monem Sugar Refinery in regards to the elevated pricing, agency sources say.
Abdul Monem Sugar Refinery later admitted to supplying sugar to the market at a higher price before re-fixing the price of sugar in a written explanation. DNCRP fined the Abdul Monem Sugar Refinery Tk 1 lakh under the Consumer Rights Protection Act, 2009 on Sunday for this.
The Government re-fixed the price of sugar on Thursday last. The new price of packet sugar is Tk 108, an increase from the previous price of Tk95 per kg. Loose sugar is now Tk102 per kg, which was Tk 90 per kg.
The government raised prices of sugar in the first week of October by Tk 6 per kg in an apparent move to catch up to the market.
