Sugar wholesaler fined Tk 2 million for making Tk 24 million extra profit daily in Chittagong

A mobile court has fined a wholesaler Tk 2 million in Chittagong for selling sugar at Tk 58 a kilogram after buying at Tk 46 from the mill.

Hajji Mir Ahmed Traders of the port city's biggest wholesale market at Khatunganj was making Tk 12 profit per kg.

It meant it was making an extra profit of Tk 24 million daily from the sale of 2,000 tonnes, according to the mobile court.

Executive Magistrate Tahmilur Rahman, who headed the court, told bdnews24.com the firm, owned by one Abdus Salam's Mir Group, controls the entire wholesale of S Alam Sugar Mill.

"He buys 80 percent of the total sugar directly. He also buys the remaining amount through his agents," the magistrate said.

RAB-7 Squad Commander Jalal Uddin, who assisted the drive, said the employees of the firm did not cooperate with the RAB and were ‘rude’ as well.

"They tried to instigate the labourers against us," he alleged.

The magistrate said the owner of the firm signed a bond, promising not to make more than Tk 2 profit per kg.

Mir Group Managing Director Abdus Salam alleged his firm was actually buying the sugar at Tk 50 per kg, not 46.

"We also have to pay Tk 4 as labour charge and transport fare for every kg. Then the profit comes to Tk 4 per kg," he claimed.

He said the punishment was caused by a "misunderstanding".

Four other wholesalers buy sugar from Hajji Mir Ahmed Traders. They are M Hossain Traders, MG Trading, M Hossain Brothers and Bismillah Group.