In a groundbreaking move aimed at curbing the chaos caused by middlemen in the commodity market and combating unjustified price hikes, the government has unveiled a pioneering app. This app is designed to provide users with a comprehensive database listing producers, importers, and wholesale traders of essential daily necessities.
Through this innovative platform, users can effortlessly track import quantities, marketing activities, and stock levels of various commodities. By offering transparency in the supply chain, the app aims to ensure the availability of all essential commodities in the market while thwarting hoarding attempts for undue profit and eliminating middlemen from the system.
Sources within the Ministry of Commerce have revealed that the government is actively pursuing the development of smart market management solutions. This initiative includes efforts to eradicate the presence of middlemen, who often manipulate prices, create artificial shortages, and disrupt market stability to serve their own interests.
To realize this vision, the Commerce Ministry is set to introduce an online system for managing daily commodity markets, with the new app playing a pivotal role. Businesses operating through this platform will be required to obtain licenses from district administrations, with strict oversight to verify the authenticity of wholesalers, retailers, and importers.
Furthermore, the government plans to enforce market regulations through mobile courts, focusing on maintaining market stability rather than instilling fear among stakeholders. Regular raids and inspections conducted by various government bodies aim to address pricing discrepancies and ensure compliance with regulations, with a focus on retailers facing penalties for violations.
State Minister for Commerce, Ahsanul Islam Titu, emphasized the government’s commitment to stabilizing prices and ensuring the availability of essential goods. He highlighted initiatives to establish rational pricing mechanisms and encouraged public vigilance to monitor market dynamics.
Market participants, such as Shafiqul Islam Lal Mia, owner of Sukkur Traders, expressed support for efforts to bring order to market management, emphasizing the importance of stability for businesses.
The introduction of this app marks a significant step towards fostering transparency, efficiency, and fairness in the commodity market, signaling a promising shift towards a more equitable trading environment.
