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Joint forces to combat mkt manipulation from Jan 18 PDF Print E-mail
Tuesday, 15 January 2008

Staff Correspondent

The army-led joint forces will start monitoring the prices of essential commodities and check market manipulations from January 18.

A meeting between law enforcers and representatives of traders on Sunday decided that the joint forces would try to check price manipulation of major essentials, including edible oil. Colonel MA Halim, director training of the Bangladesh Rifles, presided over the meeting.

The meeting decided that at first the joint forces would monitor wholesale and retail markets in Dhaka and later spread the drive across the country.

It was also decided that millers, wholesalers, and retailers of edible oil must have to carry invoices from now on and show them to investigators assigned to check hoarding and unjustified trade margins.

The meeting asked millers and wholesalers to abstain from hoarding and delaying delivery of goods for more than 15 days.

It discussed the recent crisis in rice supply and continued rise in the prices of edible oil, flour and other major essentials, further intensifying the consumers' sufferings.

The meeting also decided that law enforcers would not harass any genuine businessman but only run against market manipulators.

Leaders of the Bangladesh Edible Oil Wholesalers' Association, representatives of oil millers and leaders of various retailers' associations of Dhaka markets attended the meeting.

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