• Monday, Dec 06, 2021
  • Last Update : 01:15 am

FBCCI to businesses: No excess profit on essential items

  • Published at 08:47 pm October 17th, 2021
Karwan Bazar
Buyers crowd grocery shops at Karwan Bazar to purchase essential commodities on April 11, 2021 Mehedi Hasan/Dhaka Tribune

He said the Covid-19 pandemic has affected the earnings of almost all people, triggering the price hike of essentials, which ultimately added to the woes of ordinary people

Amid soaring prices of essentials, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jasim Uddin on Sunday urged businesses not to make excessive profit on essential goods considering the situation.

He said the Covid-19 pandemic has hit the earnings of almost all people, triggering the price hike of essentials, which ultimately added to the woes of ordinary people.

The FBCCI president said this at a views-exchange meeting with importers, wholesalers and traders at the FBCCI office.


Also Read - Basic food keeps seeing a price hike


“Of course, you will make profit from your businesses, but do not do so in excess,” Jasim said.

He expressed concerns at the discrepancies in pricing of similar goods based on areas and markets.

“Suppose a 1kg cucumber is sold for Tk10 at Karwan Bazar while it sells for Tk50 in Gulshan area,” Jasim said urging business people to stop this practice.

He said that blame is often passed on to the business community as a whole but every businessman is not a profit monger. 

“There are some dishonest businesses who always try to cash in on the situation,” the FBCCI president added.


Also Read - Global fuel price hike is causing prices of essentials to go up in Bangladesh


The consumers of the country have been suffering from the soaring prices of essentials, such as sugar, edible oil, and vegetables amid the onslaught of the coronavirus pandemic.

Besides, he said, the price hike of energy and commodities and depreciation of local currency have been fuelling the inflationary pressure on consumers.

Many of the businesses that attended the meeting said extortion by vested quarters contributed to the price spiral of many items.

A businessman who attended the meeting told UNB that he has to pay a toll of Tk9,000 per truck for the van to reach Dhaka from Bogura.

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