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Rejoinder, our reply
Mushtaq Hussain, managing director of the Golden Fibre Trade Centre Ltd (GFTCL), has sent a rejoinder to a news report titled "Govt loses but they gain" published by The Daily Star on November 17, 2016.
Following is the text of the rejoinder sent in his company letterhead pad and signed by him.
(A) Mushtaq said his company, GFTCL, has been exporting BJMC-manufactured jute goods to different parts of the world like all other 110 enlisted traders. As the exporters of BJMC goods, local traders are not entitled to have any price discount or commission. We found the very words "Nexus of UnscrupulousTraders" disrespectful.
(B) In the report, quoting BJMC officials, the reporter wrote that GFTCL managed to buy 100 bags for $84 when 100 bags were being sold for $100. Also the BJMC director was quoted as saying that the BJMC never got the right price, whereas some traders earned 10-20 percent profit. It is an utter lie and misrepresentation of fact.
(C) Hie GFTCL has got no role to play to fix the BJMC's published price and traders like GFTCL are in no way related to gigantic loss that the BJMC incurred over the years. It is entirely the BJMC's internal affair. The GFTCL cannot dictate the BJMC's operational efficiency, productivity, cost minimisation, pilferage, wastage, mishandling and misappropriation.
(D) Because of the GFTCL's marketing efficiency, prudence, intelligence and professionalism, it became the largest BJMC's buyer. Complying with the BJMC's regulations, it has been exporting jute goods from the BJMC. In the last five years, the company exported around Tk 650 crore worth of BJMC-manufactured jute goods to Sudan.
(E) Although the GFTCL has been performing spectacularly in the export market, disregardingall our credentials and business reputation, Mr Amin Abdel Latif (Bangladesh's consul general in Sudan) in connivance with the beneficiary of the then BNP regime started conspiring against us to monopolise the market. Meantime, Mr Amin Abdel Latif, a Sudanese, minted money and earned windfall profit. It is after long six years, ice has started melting and found a room to approach the authority in 2009.
OUR REPLY
Nowhere did The Daily Star report say that Mushtaq's GFTCL is not an enlisted exporter with the BJMC. Also, the report did not term him as an "unscrupulous trader". It is BJMC officials who said they are a fully-fledged business organisation and are able to market and sell their goods directly.
But influential quarters always prevented them from doing so.
Moreover, Mushtaq himself admitted how a group of people controlled BJMC-manufactured products and made money for years. He said the then jute minister of the BNP government in 1991 had given a Gazipur-based businessman the sole agency of the BJMC's jute products and if other exporters, including enlisted ones, wanted to buy BJMC goods, they had to go to that businessman, who was dubbed "mini BJMC" at that time.
Then a group of Indian jute traders were able to influence the BJMC and had bought its goods in late 1990s and early 2000s. Later, a Sudanese businessman, Amin Abdel latif, who is also honorary consul general of Bangladesh in Sudan since 1991, got strong influence in the BJMC. Also, in the rejoinder Mushtaq said Amin minted money and earned windfall profit from BJMC.
On selling the BJMC-made bags at lower price than the market price, a top BJMC official showed a sale document that 100 B Twill bags were sold at $84 last year to a local buyer when the international market price was around $100. It was not the GFTCL that bought the goods at $84 last year. We are sorry for the inadvertent mistake though the report published his comment as, "He ]Mushtaq] refuted allegations that he bought jute goods from the BJMC at lower than the marketprices".
The report never said that the GFTCL has a role to fix price of the BJMC's products.
However, The Daily Star corrects the GFTCL's last five years' export figures to Sudan at Tk 650 crore, instead of Tk 600 crore.