The Trade Organisation (Amendment) Bill, 2023 was passed in Parliament on Thursday aiming to bring some changes in the existing law of 2022.

Commerce Minister Tipu Munshi moved the Bill and it was passed by voice vote.

As per the proposed law, in case of any problem to hold the election, the existing committee of any trade organisation can continue its operation for one year after expiry of its tenure in line with the draft law.

But now the committee can run operations for six months after the expiry of its tenure in such circumstances as per the existing law.

During the discussion of the Bill, Commerce Minister came down under fierce attacks from the opposition MPs for his failure to tackle the prices of essentials items.

Participating in the discussion of the Bill, Gonoforum MP Mukabbir Khan said that the Commerce Minister is a businessman, he understands business well.

“He denied the existence of the syndicate many times in Parliament. When people started saying that the commerce minister was the owner of the syndicate, he started telling the truth. He (Commerce Minister) said that the syndicate cannot be touched.”

Mukabbir Khan said that the Prime Minister is giving important advice to break the syndicate like keeping raw chillies dry, boiling eggs and keeping them in the fridge.

“We would have benefited greatly if we had received these suggestions earlier. Because when the thief escapes, intelligence increases.”

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Jatiya Party MP Shamim Haider Patwari said that common people are suffering due to the uncontrolled price spiral.

“Now is the time to protect the poor. This ministry can give things to people at cheaper prices. This can bring equilibrium in the market,” he said.

Shamim Haider said that due to the syndicate, the prices of goods increased.

Jatiya Party MP Roshan Ara Mannan demanded stern action against the traders behind the price spiral of essential commodities.

Jatiya Party MP Hafiz Uddin said that the Commerce Minister understands business very well as well as the syndicate.

“That's why he said that if anyone touches the syndicate, that person’s hands will be burned.”

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Another Jatiya Party MP Pir Fazlur Rahman said that he does not know why the Commerce Minister could not take punitive measurers against the syndicate.

In response to the opposition's criticism, Commerce Minister Tipu Munshi said that the issues of commodity prices and syndicates have come up in the discussion.

“It has been said that I myself am the leader of a syndicate. I am a businessman…I needed to say many times in this Parliament that I have been in politics long before I became a businessman. I started business 20 years after I started politics,” he said.

The Commerce Minister said that If doing business is a crime, then he is guilty of that crime.

Referring to the increase in prices due to global factors and failure to fix the prices of some products, the commerce minister said that the products produced in the country also sometimes increase.

“I don’t hesitate to admit that sometimes businessmen suddenly take advantage.”

Regarding the price spiral, he said that free market economy is a reality.

He mentioned that his ministry has fixed prices of onions and potatoes after discussion with the Agriculture Ministry.

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“We will strictly control that. We are constantly trying. But it is also a reality that businessmen are trying to take advantage. The Prime Minister is investigating everything.”