Businessmen will face 'stern action in case of dishonesty'

FE Report

Newly appointed Commerce Minister Lt Col (retd) Faruq Khan warned Wednesday the country's businessmen of facing stern consequences if they resorted to dishonesty.

"We will cooperate with the businessmen and create opportunity to do business with honesty and integrity. And at the same time we will be tough against the wrongdoers," he said while talking to journalists on the very first day of his office as a cabinet member.

Assuring the businesses of extending a helping hand, Mr Khan said: "We want to make an environment for doing better business for all unless they prove otherwise. We won't treat the businessmen on the basis of political identity."

"The businessmen will not have to pay ransom to do their businesses," he said expressing the hope that the businesses would perform their respective duties from now on.

The former army officer also stated the government's position against any kind of 'syndication,' which was blamed for the unprecedented price spiral in recent times.

"Syndicate exists if it is nurtured and we will not let this happen," he said responding to a question.

The commerce minister was also confident of bringing down the high prices of essentials on his inaugural day in office.

"Pulling down the prices of essentials would be the topmost priority for this government as newly elected Prime Minister Sheikh Hasina said so immediately after taking oath Tuesday last," he said.

"The prices of essentials have already started coming down and the indications of the last four or five days were very much positive," Mr Khan said.

This happened as the businesses have regained confidence along with the common people, he added.