PM hasn't said anything to me regarding 'syndicates' involved in price hikes: Tipu Munshi

Commerce Minister Tipu Munshi today (30 August) said the prime minister did not say anything to him regarding "syndicates" allegedly involved in hiking prices of necessary commodities in the market. 

"After the prime minister's press conference on Tuesday [29 August], she did not say anything to me about the 'syndicates', even though I was with her for about an hour and a half," the minister said after the opening ceremony of the "US-Bangladesh Business Council" at the capital's Hotel Intercontinental today morning. 

Earlier on Tuesday, responding to a journalist's remark – about how some seasonal syndicates are involved in price hikes of various products, regarding which the commerce minister said no action can be taken against these individuals – the prime minister said, "I will confront the commerce minister."

When asked about this, Tipu Munshi said, "This is what the prime minister said. How can I speak about what she was thinking when she said that, or what the context was?"

"I don't know exactly what the prime minister said. I never said such things as 'there is a syndicate, or that I will break the syndicate.'"

Tipu Munshi said, "I have said, when the price of goods increases, we try to control it. Sometimes we have problems due to lack of manpower. I said that. I don't know what questions were asked yesterday, or in what context she said this.

"I have said in Parliament that some traders try to take advantage. People's sufferings will increase if jail-oppression measures are taken against them. We try to control the market through negotiation. When the price of eggs increased, I said I would arrange imports to increase the supply if necessary," he said. 

Asked why Sri Lanka was successful in controlling inflation but Bangladesh was not, he said, "The situation of Sri Lanka and our country is not the same." 

"Sri Lanka's main source of income is tourism, which has strengthened. Besides, it is a small country. We are a big country. The prime minister said austerity measures should be adopted," Tipu Munshi said.

He said more than three tomatoes cannot be bought at a time, even in London. In Germany, there is no oil in shops. "Our efforts are going on even amid the global recession."

Asked if there is no syndicate in the market, Tipu Munshi said millions of people in rural areas produce eggs. Many people create syndicates together, so "how can I speak on that matter? But I won't say they don't take chances."

The commerce minister said US businessmen are interested in doing FDI in Bangladesh, but they have raised questions on some issues, including the tax structure. "We asked them to invest in economic zones. There is a tax holiday of 15 years if you invest there."

Asked whether US businessmen were worried about political unrest before the election, the minister said they did not say anything about it.