Commerce Minister Tipu Munshi on Monday said that it is possible to take actions against the market syndicate including jail and fine, but it will create a crisis.
“There is talk of a syndicate. It's just that big groups do a lot of business together. We need to focus - we can send them to jail and fine them. But it will be difficult for us to bear the sudden crisis. That's why we try to stay within the rules through discussion,” he told the parliament.
Referring to his involvement in politics long before business, Commerce Minister Tipu Munshi said: “One thing is coming up again and again, I am a businessman and businessmen are getting benefits from me. I will say one thing to those who are saying this - I don't know how many years of experience you have in politics. But I have been in politics for 56 years.”
“I have been in business for 40-42 years now. But no one turns around and says I am a politician,” the minister added.
Meanwhile, in the face of severe opposition criticism in parliament for his alleged failure to control price hike of essential commodities Commerce Minister Tipu Munshi on Monday offered to resign if the prime minister gives the responsibility of running the ministry to one of the opposition MPs.
Gonoforum MP Mokabbir Khan fired the first shot against Tipu Munshi during the discussion on the proposed cut motion on the Ministry of Commerce in the budget for FY24.
Jatiya Party MPs also criticized the commerce minister for the rising prices of daily products.
They also raised the question whether the “business” minister, Tipu Munshi, is involved with the market syndicate or not.
Rustam Ali Faraji of the Jatiya Party said in the discussion on the retrenchment proposal what the monitoring cell of the ministry does.
“Such a big ministry. If the minister does not have dynamism then the price will increase. If only one person works and everyone sleeps, then the country will not run. Market syndicates should be broken up. It is certainly possible if desired. But if you think the business belongs to me then it is sad for the country and its people.”
Jatiya Party's Shamim Haider Patwari said that even though the commodity prices have decreased in global markets in the last few months, it is not affecting the country.
“Inflation in Bangladesh was 6% now it seems to be 10%. It is growing. Inflation is eating the people's income.”
He mentioned that making the government budget and household budget is not the same thing.
He said that the budget of the government is decreasing and due to this rice, pulses, oil, chicken size, and meat pitches are getting smaller.
“The economy of Bangladesh is trapped in a vicious cycle of inflation. The government should take steps to overcome this," he said.
“There are syndicates. There is no doubt about it. That syndicates are powerful. But are they stronger than the government? I don't think they can be stronger than the government. If there is a syndicate within the government, it must be identified," he said.
He said that the minister has a vast business.
“He is a successful businessman. I believe that if he is given the freedom to act, then he can definitely control it," said he.
Gono Forum MP Mokabbir Khan said that the most unsuccessful ministry of the current government is the Ministry of Commerce.
“When you go to the market, you hear from people that the Ministry of Commerce is so unsuccessful that people call it a syndicate friendly ministry.”
Alleging the involvement of a syndicate of traders to increase the price of goods, Mokabbir said that many people said that the commerce minister was involved.
“Why don't you resign after all this?” Mokabbir asked the the commerce minister.
Mokabbir said that when the commerce minister says that the price of a product will decrease, the price of that product increases the next day.
He said that he knows that the minister will not give any answer.
Jatiya Party Member of Parliament Roshan Ara Mannan said that people get upset when they go to the market.
“The Ministry of Commerce is not monitoring the market properly. The commerce minister is a freedom fighter. Why can't he control the market ?”
Jatiya Party lawmaker Pir Fazlur Rahman said that the minister of state for industries said that people cry when they go to market, and the only reason is the syndicate.
“People also understand this. The Russia-Ukraine war alone should not be blamed for the rise in commodity prices. The syndicate has looted thousands of rupees in the egg market. Chicken eggs do not come from Ukraine.”
He said that the commerce minister has said that some traders are taking advantage of the product prices.
“Our commerce minister can not arrest the syndicate people who raise prices. He himself is a businessman. He knows which businessmen are doing it. So are these businessmen close to him, which is why he can't catch the syndicate businessmen?”
He demanded that the commerce minister should say publicly why he is not able to do that.
Pir Fazlu said that Tk1,500 crore has been looted in the onion market.
“A few companies are looting Tk17 crore daily in the sugar market. Thousands of crores of taka have been looted in the boiler chicken market in a month and a half. The commerce minister can't do anything.”