The state-owned consumer watchdog Bangladesh Competition Commission has filed 11 cases against eight individuals and organisations for raising abnormal prices by creating an artificial crisis in the market of daily essential rice, flour, flour, eggs, broiler chicken as well as soap and toiletries across the country.
The individuals and organisations include Abdul Rashid of Kushtia Rashid Agro Food Products for rice, Belal Hossain of Naogaon Belcon Group Private Limited, Bangladesh Edible Oil Limited; City Group of Industries for Flour; Paragon Poultry for Eggs, President of Egg Traders-Artdar Multipurpose Cooperative Society Amanullah, Managing Director of Kazi Farms Group Kazi Jahedul Islam; Kazi Jahedul Islam, Managing Director of Kazi Farms Group for Poultry, Paragon Poultry Limited; Javed Akhtar, Managing Director of Unilever Bangladesh Limited for toiletries products.
According to sources, recently an abnormal instability was found in the daily essential commodity market due to the reported ‘manipulation’ of these companies and individuals.
This brought huge trouble in common consumer’s life. Over the situation, the commission filed ‘self-motivated cases it preserved as right.
When asked about this, Chairman of Bangladesh Competition Commission Mofizul Islam told that the commission has filed a case against several companies that have created a crisis and raised abnormal prices of rice flour, eggs, broiler chicken and toiletries.
The cases will be heard continuously from September 26, he said.
According to commission sources, the cases have been filed against them under section 15 and 16 of the Competition Commission Act.
Article 15 of the commission states that if anyone influence the market and create a one-sided situation, they will be punished. And in section 16 said that the crime of manipulating the price of a product by exploiting the opportunity to be at the top in the marketing or production of a product is also punishable.