ACC’s probe to rice crisis

The ACC move is the most welcome to identify the culprits and their corrupt mechanism and, therefore, free our rice market from their clutches

The Anti-Corruption Commission (ACC) has formed a three-member committee to probe allegations of illegal stockpiling of rice by hoarders. The move comes in the wake of falling rice prices discouraging traders and importers to help the market get back to its normal state. However, following repeated environmental disasters, this year’s rice market had appeared to be the most volatile in recent years. Taking advantage of the situation a sinister group of importers and traders have evidently exploited the situation. The ACC move is the most welcome to identify the culprits and their corrupt mechanism and, therefore, free our rice market from their clutches.

The ACC formed the committee following an application submitted by an individual, alleging that a section of unscrupulous businessmen, with the assistance of some dishonest government officials, had hoarded food items to create an artificial crisis in the market in order to embezzle crores of Taka through illegal hoarding. The group of money-hungry traders and businessmen has also violated the Essential Commodities Act-1995 and the Essential Articles (Price Control and Anti-Hoarding) Act-1953 by hoarding and misappropriating a huge amount of money by creating an artificial shortage of food grains in the market, as the application revealed. Many thousands of sacks full of illegally hoarded rice by now have been seized from all across the country.

It was indeed an eye-opener to the sinister nature of quick profiteering illegally. The rice price is soaring due to a manmade crisis. Legal action should be taken against the illegal hoarders in an exemplary manner to deter its recurrence in the future. For years, we have known about illegal hoarding practice of traders to create artificial crisis in the market to raise prices of rice and wheat. But this is for the first time that use of government facility to hoard private traders' stock has come to light.

Finally, we have recently witnessed a huge amount of  mixed reaction among the political leaders and businessmen on the topic of the artificial rice crisis and urge all quarters, meaning businessmen and politicians, to come under a single platform to fight corruption in our food sector.

ACCs probe to rice crisis

The ACC move is the most welcome to identify the culprits and their corrupt mechanism and, therefore, free our rice market from their clutches

The Anti-Corruption Commission (ACC) has formed a three-member committee to probe allegations of illegal stockpiling of rice by hoarders. The move comes in the wake of falling rice prices discouraging traders and importers to help the market get back to its normal state. However, following repeated environmental disasters, this years rice market had appeared to be the most volatile in recent years. Taking advantage of the situation a sinister group of importers and traders have evidently exploited the situation. The ACC move is the most welcome to identify the culprits and their corrupt mechanism and, therefore, free our rice market from their clutches. The ACC formed the committee following an application submitted by an individual, alleging that a section of unscrupulous businessmen, with the assistance of some dishonest government officials, had hoarded food items to create an artificial crisis in the market in order to embezzle crores of Taka through illegal hoarding. The group of money-hungry traders and businessmen has also violated the Essential Commodities Act-1995 and the Essential Articles (Price Control and Anti-Hoarding) Act-1953 by hoarding and misappropriating a huge amount of money by creating an artificial shortage of food grains in the market, as the application revealed. Many thousands of sacks full of illegally hoarded rice by now have been seized from all across the country. It was indeed an eye-opener to the sinister nature of quick profiteering illegally. The rice price is soaring due to a manmade crisis. Legal action should be taken against the illegal hoarders in an exemplary manner to deter its recurrence in the future. For years, we have known about illegal hoarding practice of traders to create artificial crisis in the market to raise prices of rice and wheat. But this is for the first time that use of government facility to hoard private traders stock has come to light. Finally, we have recently witnessed a huge amount of mixed reaction among the political leaders and businessmen on the topic of the artificial rice crisis and urge all quarters, meaning businessmen and politicians, to come under a single platform to fight corruption in our food sector.