The government will take steps against extortion and monopolies to bring down prices of essentials and benefit consumers, said Finance and Commerce Adviser Salehuddin Ahmed yesterday.

"We will stop this," he said when allegations of extortion in the value chain of essential commodities, including perishables, were raised during a meeting with top officials of the commerce ministry.

He said he found out that an item changes hands four times at Dhaka's Karwan Bazar alone and traders are asked to sell the product at specific prices.

In exchange, the trader is given a "commission" or a certain amount of money, Ahmed added.

"I have also come to know that Tk 7,000 is collected from each truck…I have received a lot of complaints," he said.

Ahmed said when one group leaves, another group begins preparations to extort people.

However, he said it was not the responsibility of the commerce and finance ministries to take steps against extortion.

"We will talk to the ministry that is responsible for addressing this," he said, adding that extortion and monopoly must be ceased to provide relief to suffering people.

"This is very important," Ahmed said.

He directed the Trading Corporation of Bangladesh to start selling essential food commodities at subsidised prices in the open market immediately.

He said both the commerce and agriculture ministries have roles to play in containing inflation. The consumer rights protection directorate will monitor the market, he said.