Will erase notion of syndicate-controlled market: Muktadir

Commerce Minister Khandaker Abdul Muktadir on Saturday said the market in Bangladesh will no longer be controlled by syndicates, vowing to eliminate the very notion of syndicate-driven pricing.

“Such a concept — that markets are controlled through syndicates — will be erased from Bangladesh,” he said.

The minister made the remarks on Saturday while inaugurating the country’s first direct farmers’ sales centre, Krishoker Haat, at Tilagarh in Sylhet city.

The initiative, organised by the district administration and the Department of Agricultural Extension, aims to allow farmers to sell their produce directly, breaking the syndicate system.

Speaking at the event, he also said the entire supply chain for import-dependent commodities would be brought under an AI-based model to stabilise prices. This, he added, would make market monitoring easier and help maintain stability.

The commerce minister further said the scope of the Trading Corporation of Bangladesh (TCB) would be expanded. He noted that the government currently provides Tk3200 to Tk3300 crore in subsidies annually for TCB operations, which would be reduced, while its activities would be widened.

He also said deputy commissioners in all districts would take steps to ensure that farmers across the country can sell their produce directly to consumers at least one day a week.