TCB in soup
Photo: STAR
The Trading Corporation of Bangladesh, the sole government trading body that secures imports for the country from the private importers, is having a tough time with the importers. They struck deals with TCB that they would supply essentials during the month of Ramadan and made a back track with their promised deal with the alibi that the prices they had quoted in their bids were much lower than the existing price currently in effect in the market. Eleven importers have signed agreement with the TCB to supply one lakh twelve thousand tons of sugar from which six companies have expressed their inability to supply the sugar. In addition to that, four companies, signed contracts with TCB to supply nineteen thousand six hundred tons of soybean oil, has also conveyed their inability of supplying the oil. They even have told the TCB that it can forfeit their performance guarantee money due to breach in contract. It is learnt from the reliable sources that the importers can yield hefty profits even after the deduction of guarantee money. This shows how prices of essentials are increasing in an unabated manner. Our ministry of commerce seems totally handicapped to either contain or control the prices or these influential importers' syndicate. This is just the two examples of how these importers monopolize the market defying government directives. Though it may sound ludicrous but the bare fact is that “who will bell the cat”?
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