Extortions, syndicates still control market: Sarjis Alam

Businesses continue to face extortion as before, and syndicates still control the markets, Sarjis Alam, chief coordinator of the Jatiya Nagorik Committee, said today.

"From our brief experience working in this sector, we have observed that in the major wholesale markets of the capital, product prices rise multiple times solely due to extortion," he stated.

Political parties control these extortion practices and syndicates; therefore, restoring a fair market system requires only the goodwill of major political parties, he explained.

"The culture that has developed in the country means that no matter how much effort we put in, a fair market system cannot be established without political goodwill," Alam emphasized.

He made these remarks at a discussion on fair pricing of food commodities and market supervision strategies, organised by Bonik Barta, a Bangla daily, at the Sonargaon Hotel in the capital.

"We have observed that businessmen use their influence in various ways whenever they get the opportunity. However, the time has come to speak openly about everyone's roles and responsibilities. We must all have the courage to do so," Alam said.

"Currently, our market system is largely based on compromise and cooperation. Instead of competing, major companies have established their own territories or boundaries through mutual understanding," he noted.

A few large companies control a significant portion of the import trade, he added.

Despite prior assurances, law and order have not improved as expected under the interim government, Alam further stated.

People want to see the commitments made by the government translated into action, he said.

Bangladesh is now standing at a critical juncture. "I hope the 24 advisers of the interim government will take at least 24 actions that will be remembered by the people."

He also pointed out that, over the last 15 years, major commodity importers and conglomerates have used phone calls to control the release of goods from mother vessels to lighter vessels as a strategy to set inflated prices for essential commodities.