FBCCI calls for amending Essential Commodities Act

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin on Wednesday urged the government to amend the Control of Essential Commodities Act as the current one was very old.

The Control of Essential Commodities Act is a very old one. As the country has been developing fast over the recent years and the trend will continue the Essential Commodities Act should be amended, Jashim said this at a discussion.

The discussion was organized by Moulavibazar Babosayee Samity on stocks, imports, supplies and price situation of daily essential commodities.

He also said FBCCI had already discussed with the Commerce Ministry and Consumers’ Right Protection Department in this regard.

The FBCCI Chief also urged the shop owners’ associations to control the retail market price and called traders to decrease the prices during festivals like other countries.

The whole world is going through an unusual situation right now. At such times, traders need to be more responsible and do business honestly.

The forthcoming budget is a very crucial one under the present situation of the world. Giving relief to the people and curbing the inflation should be the priorities in the upcoming budget, he said.

He added that tax and duty burden on daily necessary goods should be removed and the revenue can be collected from imposing extra tax on luxury items.

President of Bangladesh Paikari Garom Masola Babosayee Samity Md. Enayet Ullah said there is no shortage of spices in the market ahead of Eid-ul-Adha and hence there is no fear of price hike.

The President of the Moulavibazar Babosayee Samity Syed Md. Bashir Uddin said, if anyone attempts to manipulate the market ahead of Eid, the association will take punitive actions as per the rules.

FBCCI Senior Vice-president and Convenor of the FBCCI Market Monitoring Committee Mostofa Azad Chowdhury Babu, FBCCI Director Abu Motaleb, Harun ur Roshid, Former President of Moulvibazar Babosayee Samity Alhaj Abdur Razzak, General Secretary of the present Committee Azmol Hossain Bablu also spoke on the occasion.