The New Nation - Internet Edition

Staff Reporter

Leaders of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday urged the government to remove the abnormal price gap between the wholesale and retail markets in the city.

They also stressed the need for conducting regular market monitoring by government agencies to keep the prices of essentials within the purchasing power of the common people.

The FBCCI's observation came while a delegation of the apex trade body led by its president visited the different city markets yesterday. Annisul Huq, president of FBCCI called upon the administration to re move startling price gap of essentials between wholesale and retail markets in the city.

"It is not only possible for the FBCCI or the media to monitor the prices of essentials regularly rather the government has such mechanism to carry on regular monitoring," he expressed his opinion with the media after visiting Gulshan-2 and Mohammadpur kitchen market.

Mentioning the dissimilarities of prices he said some commodities were selling at Karwan Bazar at 20-25 percent higher rate than that of Shyam Bazar.

Huq said the prices of essential commodities in retail markets might remain unchanged compared with the last week's prices.

He said that the retailers charge the prices 20-25 percent higher than wholesale prices from customers. The profit margin of the retailers should be around 10 to 15 percent, said the president of FBCCI.

"The business body would meet importers of soybean oil tomorrow with a view to keeping the food prices within the buying capacity of middle income group," he informed.

Retailers informed the FBCCI president that the wholesalers of Karwan Bazar did not provide them voucher of their purchased commodities, about which the president said that the retailers need to be provided with vouchers.