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TCB dealer, two others arrested over hoarding commodities for black market sales

The Rapid Action Batallion or RAB has arrested a dealer of the Trading Corporation of Bangladesh or TCB and two others on charges of illegally selling commodities allocated for the open market.

Chattogram Bureau

bdnews24.com

Published : 22 Mar 2022, 12:44 PM

Updated : 22 Mar 2022, 12:44 PM

In a drive early on Tuesday, RAB-7 carried out a raid on a warehouse in the Cement Crossing area in Chattogram and confiscated large quantities of cooking oil, pulses and sugar

The arrested people are Kamrul Islam Rashed, 39, Md Nurullah, 38, Jashim Uddin, 43. Rashed is listed as a TCB dealer, according to RAB.

Lt Col MA Yusuf, commander of RAB-7, said they stockpiled goods in the warehouse owned by Jashim to sell outside the open market for a bigger profit.

In a media statement, RAB said the oil was poured into large metal drums from the bottles, which contained TCB authentication, while sugar and lentils were unpacked and stored in separate sacks.

About 2,000 litres of soybean oil, over 1,000 kg of lentils and sugar were found at the warehouse.

Rashed introduced himself to RAB as a TCB dealer and revealed that he used to sell the stocked goods to Nurullah and Jashim through the black market.

RAB said that Nurullah and Jashim confessed to pouring the oil into the drums with the intent of selling them at higher prices.

Earlier in the day, Yusuf said they also found a large quantity of rice but are yet to determine if it had been allocated by the TCB.

RAB took legal actions over the incident while an investigation into how the goods are being stored and sold outside the open market is ongoing.

Earlier this month, the Directorate of National Consumers' Right Protection launched a campaign to monitor the commodity market as allegations of hoarding surfaced amid a price spiral.

Commerce Minister Tipu Munshi also vowed to take action against those who tamper with affordably-priced TCB products.

"In the month of Ramadan, the prime minister is providing subsidised food items so that people can buy them at affordable prices.

“If any unscrupulous trader manipulates the prices of these products, including food stocks, he will receive the maximum punishment," he had said on Sunday.

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