8 edible oil importers sued for ‘manipulating market’
The Bangladesh Competition Commission has filed a case against eight companies importing edible oil from the country for restricting or controlling the market.
Following an independent inquiry, the commission filed the lawsuit against the companies on Wednesday (13 May) in a bid to ensure proper market competition.
Notices have also been sent to the companies to take part in the hearing of the case, reports Prothom Alo.
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The companies and their brands are City Edible Oil Limited (Teer), Bangladesh Edible Oil Limited (Rupchanda), Meghna and United Edible Oil Refinery Limited (Fresh), Bashundhara Oil Refinery Mill (Bashundhara), Shabnam Vegetable Oil Company Limited (S Alam), Prime Edible Oil Limited (Prime) and Globe Edible Oil Limited (Royal Chef).
Bangladesh Competition Commission Chairperson Mofizul Islam said, "If there are allegations of formation of syndicate or attempt to control the market not only in edible oil but also in any other product, we will take action against them according to the law (after inquiry)."
Commission sources said the government agency has the power to sue on its own under the law.
A hearing is scheduled for 18-19 May on the inconsistencies found in the preliminary investigation against the companies.
