No syndicate will exist in country: Titu

State Minister for Commerce Ahsanul Islam (Titu) on Sunday assured that no syndicate will be able to remain in the country.

"I am not familiar with the term syndicate. No syndicate will be able to exist in the country. Businessmen have to work with transparency and accountability. We will tell them that if they do business with transparency and accountability, we will support them. But if they try to embarrass the government by any kind of manipulation, we will take strong action," he said. 

Titu, the newly-appointed state minister of the commerce ministry, said this while talking to journalists after a meeting at the Commerce Ministry conference room in the city. 

He informed that commodity prices would be regulated through smart market management.

"I don't believe in syndicates, but a few big companies import consumer goods. These institutions must be brought on the right track," he added. 

From now on, he said, if these institutions engage in any manipulation, they will be strictly prevented from doing the exploitation. 

He further added, "This will not be done through coercion or oppression, but this can be done by ensuring the proper supply of goods from the production and import stages to the consumer level, and keeping commodity prices within the public's purchasing power."

/MHK/