In a bid to control the soaring prices of essential goods, the interim government, under the leadership of Dr Yunus, has vowed to take a hardline approach, said Asif Mahmud Sajib Bhuiyan, the adviser to the Ministries of Youth and Sports and Labour and Employment
He issued a stern warning that corporate traders involved in price syndicates could be arrested under the Special Powers Act if necessary.
Speaking at a discussion with the Bangladesh Secretariat Reporters Forum (BSRF) on Tuesday (15 October), the adviser highlighted the role of these syndicates in artificially inflating prices.
Addressing the media, Asif stated that the recent spike in vegetable prices was due to crop damage caused by floods. However, the increase in the prices of other commodities is largely attributed to manipulation by syndicates, which the government is working to dismantle.
He warned corporate traders, noting that while the flood is responsible for the rising vegetable prices, the syndicates are behind the price hikes of other essential goods. The current consumer protection laws are not robust enough to effectively penalise the culprits, he remarked, prompting the government to adopt tougher measures.
Asif also mentioned that the same players involved in market manipulation in the past are still active and maintaining connections with political parties. He urged these political parties to cooperate in addressing the issue. At the local level, numerous arrests have been made of extortionists who contribute to price instability.
The adviser acknowledged the ongoing economic challenges, stating that the financial situation had deteriorated under the previous government, leaving the banks in poor condition. Despite these difficulties, the current government is working to stabilise the economy.
Regarding labour issues, Asif Mahmud assured that the Ministry of Labour and Employment is actively working to address the 18 demands raised by workers, and no significant unrest is reported at present. The government aims to create a favourable environment for attracting investment and buyers.
Asif also emphasised the importance of ensuring security for all athletes, not just Shakib Al Hasan.
He clarified that there are no legal impediments preventing Shakib from returning to the country, and any court orders are matters to be resolved within the judiciary.
