The New Nation - Internet Edition

BSS, Dhaka

Commerce Minister Lt Col (retd) Faruq Khan yesterday asked leaders of the business community to avoid market distortions and help bring prices of essentials further down.

He told reporters after a meeting with the leaders of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and the owners of several big business houses that the price situation should further improve and become affordable to common people.

The business delegation met the Minister at his secretariat office yesterday afternoon. FBCCI president Annisul Haque led the delegation.

Faruq Khan said business played significant role in establishing the democratic government and time has come it should play important role in helping the newly-elected government in facing the market challenges.

He said the business has also many problems and the government would work with them to resolve it. He said he would routinely sit with the Chamber leaders and the leaders of specific business groups and organisations to take the issue further down to the roots to wipe out market distortions.

The Minister said the government would take all steps to save people from the impact of soaring market prices and its distortions.

The FBCCI president said the new government has come with the mandate to bring down prices and the business would lend all support to it in this matter. He said the new government is also trying to know the problems of the business to solve them.

Referring to the price situation in the market, he said the prices were higher last year because the global commodity market was on the high side. It fell over the past couple of months leading the import cost of essentials to come down with it.

Annisul Haque said prices of soybean oil has drastically fallen in the market over the past couple of days as the import of cheaper edible oil reached the domestic market early this month.

FBCCI Director Rouf Chowdhury said there nothing as such in the market and the idea is all but a ghost tale to heap unnecessary blame on business.

The business leaders also tried to dispel the notion that an unholy syndicate is dominating the market.