In a first kind of its initiative in Bangladesh, Chattogram Deputy Commissioner (DC) Mohammad Zahidul Islam Mian has urged traders to reduce the prices of essential commodities ahead of Eid-ul-Azha, saying festivals should bring relief and happiness to people rather than financial pressure.
Speaking at a meeting with leaders of different business associations at Khatunganj and Riazuddin Bazar on Thursday, the DC said prices in many countries around the world decrease during major festivals through special sales and discounts.
"In Europe and North America, festival discounts or festive sales are a common culture. But in Bangladesh, we often witness the opposite - prices of essential commodities rise during festivals. We need to move away from this mindset and build a humane and responsible market system," he said.
Calling Chattogram the economic and commercial capital of Bangladesh, Zahid said the city should lead the way in creating a positive example.
Responding to the DC's appeal, top traders from Khatunganj, Riazuddin Bazar and other major business bodies are expected to jointly announce a three-day special discount programme on essential commodities through a press conference on May 18.
Many observers see the initiative as the beginning of a new humanitarian market culture in Bangladesh.
It may be recalled that Mohammad Zahidul Islam Mian made a similar appeal to traders while serving as DC of Narayanganj. However, the initiative is now being pursued on a much larger scale in Chattogram.
The DC said the interim government is working to build a humane Bangladesh, but some dishonest traders create artificial shortages during festivals by hoarding essential commodities in pursuit of excessive profit.
"As a result, ordinary people are forced to buy products at inflated prices," he said.
Welcoming the response from traders of Khatunganj and Riazuddin Bazar, Zahid said, "Chattogram traders have shown that they stand beside ordinary people."
He also urged traders to introduce special discounts for at least three days before Eid-ul-Azha to create a new market culture where festivals are associated with relief instead of price hikes.
Business representatives attending the meeting welcomed the proposal.
Representatives of the Consumers Association of Bangladesh (CAB) called for strict monitoring to prevent hoarding, syndicates and the spread of substandard products in low-income areas during Ramadan and Eid seasons.
Leaders of BGMEA, BKMEA and other business organisations also expressed support for the initiative, saying Chattogram could set a national example through collective efforts.
