Dhaka, Dec 03 (V7N) — The government will initiate legal action against traders who increased the price of edible oil without approval from the Ministry of Commerce, said Commerce Advisor Sheikh Bashiruddin.

He made the remarks at a press briefing at the Secretariat on Wednesday afternoon.

The Commerce Advisor stated that traders raised the price of edible oil without informing or seeking consent from the Commerce Ministry, which is a clear violation of regulations.

He further said, “The government purchased edible oil from traders at a rate 20 taka lower than the market price. Yet they are selling it at a price 20 taka higher. If there is any logical reason for the price hike, it can be discussed. But the Commerce Ministry will not accept any unreasonable move.”
He added that traders will be officially asked to explain the price increase.

At the same briefing, Consumers Association of Bangladesh (CAB) President AHM Shafiquzzaman said that raising the price of edible oil by 9 taka without notifying the ministry is illegal and violates consumer rights.

He also criticized the current market surveillance system, saying market monitoring is still not being conducted properly.

END/SMA/AJ