If government machinery like regulatory bodies and monitoring cells were active, hoarders couldn't have the courage to stockpile essentials for pocketing extra profits, says the High Court regarding steep price rises.
Such observations came Monday during the hearing on a writ petition in the High Court bench of Justice Farah Mahbub and Justice S M Maniruzzaman-at a time when prices of most commodities, particularly daily necessaries, have marked sharp rises.
"Laws, regulations and organizations, everything is there, but there is no implementation of those. If the machinery is activated, the hoarders will not get courage. It requires an effective initiative," the court says.
The writ petition was filed seeking directive upon the relevant bodies of the government to form a monitoring cell and to formulate policies for controlling the galloping price of soybean oil on the market.
Deputy Attorney-General Pratikar Changma, who appeared for the state, pleaded that it would not be right for the court to issue a rule following the writ petition because the government has already taken some initiatives for controlling the market.
The court asked the state lawyer to show how they were defining the anti-competition alliances. The law was enacted in 2012, however, there is no enforcement of the law yet, said the court.
In reply the state lawyer said, "The government is taking initiatives. The government is active and the market is already under control."
In this perspective, the court, addressing the state attorney, said, "The Competition Act suggests the closure of monopoly business. However, the government is not formulating any rule for implementing the suggestion. Unfortunately, there is no enforcement of the law. That has been happening all the time. If you were strict, the market could not be such unrestrained."
The court also feels that if the government side took some advance steps, the people would not have to suffer. "This is because the monopoly business has been hostage in the hands of a particular group," it says.
However, it reminds, the law suggests the formation of a regulatory body to stop this. "If there was a regulatory body, the petitioners might not have to come to the court. We want this body to be formed," the court says, indicating free play of certain business oligopolies.
Mr Changma said, "An initiative is under process to form a regulatory body for controlling the market. The government is working. The government is taking measures so that no one can control the market monopoly. The government has taken initiative to form a taskforce to control the market."
After completing the hearing the High Court fixed Tuesday for further proceeding on the petition.
Earlier on March 6, three Supreme Court lawyers-Monir Hossain, Syed Mohidul Kabir and Mohammad Ullah-filed the writ petition seeking HC directives to form a monitoring cell and to formulate policies for controlling the price of soybean oil.
They submitted the petition as a public-interest litigation based on a published report over the recent price hike of soybean oil.
The three lawyers on March 3 brought the report to the attention of the High Court bench for its direction over the issue. Then the court asked them to file a writ petition and accordingly the lawyers filed the writ petition.
