The government of Bangladesh has unveiled plans to tackle the disruptive influence of middlemen in the commodity market and curb unjustified price surges by introducing an innovative mobile application. This app aims to provide transparency by listing producers, importers, and wholesale traders of essential daily items.

Through the app, users will gain insights into import quantities, marketing activities, and stock levels of participating entities. By facilitating real-time access to such information, the government hopes to ensure adequate supply of all essential commodities, prevent hoarding practices for excessive profit, and eliminate intermediaries from the distribution network.

Sources within the Ministry of Commerce revealed that efforts are underway to implement smart market management strategies to address market destabilization caused by price manipulation and hoarding tactics employed by middlemen. The proposed online system for daily commodity market management is expected to mitigate such challenges. Plans include the requirement for retailers to obtain licenses from district administrations to operate via the app, with clear identification of wholesalers, retailers, and importers, overseen by district commissioners to monitor market dynamics.

The government underscores the need for proactive measures to maintain market stability, emphasizing the collaborative efforts of various government agencies in conducting regular market inspections. Rather than relying solely on punitive measures, authorities stress the importance of smart market management to stabilize prices effectively. State Minister for Commerce Ahsanul Islam Titu highlighted instances where essential products were sold below government-fixed prices, indicating adequate market supply during Ramadan.

Titu emphasized the rational pricing of agricultural products, incorporating production and transportation costs to ensure fair returns for sellers. He urged citizens to report any unfair practices or price hikes to the designated government hotline or consumer protection agencies.

Echoing Titu's sentiments, Shafiqul Islam Lal Mia, owner of Sukkur Traders, expressed support for initiatives to bring order to market operations and restore stability, emphasizing the cooperative role of businesses in achieving these objectives.

As the government moves forward with its plans to introduce the online app and enhance market oversight, stakeholders remain hopeful for positive outcomes in combating market distortions and ensuring fair pricing for consumers.