Goods worth Tk 200cr locked as warehouse owner goes missing

An owner of around 60 warehouses in Chattogram has been missing since Thursday, worrying importers and traders as they said goods worth Tk 200 crore remained stocked there.

Traders said Abdul Malek was last seen at his office in the city's Khatunganj, one of the largest wholesale markets in the country, where 35 importers stored 1.2 lakh tonnes of rice, wheat, flour, bitumen, cardamom, cumin and other spices and essential commodities.

All 60 warehouses situated at Khatunganj, Asadganj and Sadarghat are locked, said importers and businesspersons. Several traders fear this situation may create instability in the market as they cannot access the goods.

Ali Ahmed, general secretary of Chattogram Warehouse Commission Agents Association, said the association had been searching for Abdul Malek since Saturday.

Two of his employees, who used to handle the keys of the depots, are also missing, he said.

Seeing the warehouses closed, the workers are also not coming to work, the general secretary said. He mentioned that Malek had around 200 workers handling his operations at the warehouses.

"More than 35 importers and traders of spice, essential commodities and bitumen are in trouble due to the warehouse owner's sudden disappearance," he added.

About breaking open the doors, he said it may create untoward situations as traders keep variety of goods inside the depots, and the quantity of products continue to change as they keep on taking them out or adding more to the inventory. "We have informed the Chittagong Chamber of Commerce and Industry regarding the matter," Ahmed said.

Malek has been running those depots for almost 30 years with good reputation, he said. "We have contacted his family. They also don't know about his whereabouts."

Imported goods are stored in more than 1,000 warehouses in Chattogram, said importers. Later, they sell those to wholesalers. But since Thursday, many wholesalers have not getting required goods.

On Saturday afternoon, the warehouses were found shut, said importers.

The disappearance and subsequent closure have made traders anxious, said Abul Bashar Chowdhury, managing director of BSM Group.

Abdul Matin, a bitumen trader in Khatunganj, said most of the bitumen traders cannot sell their imported goods as those have been kept in Malek's warehouses. "It has created a crisis in the market as well," he said.

The trader said the price of bitumen has already gone up by Tk 50 per drum (50kg).

Mahbubul Alam, president of the CCCI, said, "After receiving complaints from traders, I have informed the police administration as well as the commerce ministry of the matter. Attempts are being made to find the warehouse owner."

Contacted, Kotwali Police Station Officer-in-Charge Mohammad Mohsin said they have taken into account the traders' concerns. A general diary was filed in this connection on Saturday.

Until yesterday, they were unable to trace the warehouse owner, said the OC.