Dhaka: Bangladesh Nationalist Party (BNP) on Friday alleged that a syndicate of ruling party-backed traders is making quick money by pushing up the prices of essentials in this Ramadan.

"An illegal business syndicate belonging to the ruling party is taking away thousands of crores of taka from people by shooting up the prices of rice, pulses, salt oil and fruits in this Ramadan," said BNP senior joint secretary general Ruhul Kabir Rizvi.

Speaking at a press briefing at BNP's Nayapaltan central office, he also said though Commerce Minister Tofail Ahmed assured people that the essential prices would not go up during Ramadan, there is nothing on the market that doesn't see price hike."

The BNP leader said it is a big question whether the Commerce Minister has failed to live up to his assurance or mocked with people.

He voiced concern over the hike in coarse rice as it is selling at Tk 48-50. "Rice is selling in Bangladesh at the highest price in the world. People have been going through immense sufferings with the soaring rice prices."

Rizvi also criticised Finance Minister AMA Muhith for his strict stance on excise duty on bank accounts and 15 percent uniform VAT, saying he has taken the move to create a scope for the ruling party men to plunder public money.

He said the government is trying to pick the pockets of grassroots people by imposing the excise duty on bank accounts with balance over Tk 1 lakh. 'It's a suicidal decision."

The BNP leader said common people will be affected badly following the imposition of the excise duty a 15 percent uniform VAT.