Consumer Affairs Secretary Rohit Kumar Singh on Tuesday issued a stern warning to pulses traders urging them to make reasonable profits and not to "game the system" during the IPGA 2023 Conference in Mumbai. Singh emphasised that the government is closely monitoring the market, particularly the rising prices of tur.
He assured the industry that the government is there to help businesses seamlessly import and work with good traders, but warned that they will take action against traders who hold pulses for profiteering.
He further added that the government has information that traders are hoarding imported pulses, which is driving up prices.
"We are with the good ones, but if you try to game the system, then we are watching you," Singh said during his speech.
Singh stated that the government is committed to ensuring that the market remains stable and that consumers are not exploited by traders looking to make a quick profit.
#CommodityChampions | Consumer Affairs Secy Rohit Singh warns pulses trades to make reasonable profits. 'We are with the good ones but if you try to game the system then we are watching you,' he says. @Manisha3005 pic.twitter.com/blkadrvroO
— CNBC-TV18 (@CNBCTV18News) February 21, 2023
The warning comes as the prices of tur have been on the rise in recent months, causing concern among consumers. The government has been taking steps to address the issue, including imposing stock limits on pulses traders and increasing imports of pulses.
(Edited by : Pradeep John)
First Published: Feb 21, 2023 9:43 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
PM Modi visits Ram Mandir for first time since 'Pran Pratishtha', offers prayers before roadshow
May 5, 2024 8:59 PM
Visiting temples, obliging selfie requests, jabbing rivals – Kangana Ranaut is wooing voters on campaign trail
May 5, 2024 8:23 PM