The Ministry of Commerce wants to regulate e-commerce, including e-Valley

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The government wants to expand e-commerce in the country. E-Valley, a digital commercial company, has recently been accused of fraud. The Ministry of Commerce has started work to bring e-commerce including e-Valley under the rules.

Senior Commerce Ministry officials on Thursday (August 26th) held a discussion among themselves and urged e-commerce companies to operate within the rules. In order to promote e-commerce, it has been asked to keep a close watch so that no consumer is deceived. It has been decided to take necessary steps for these organizations to conduct business within the rules.

If you want to know about this, the director general of the WTO cell of the Ministry of Commerce and 'I will do e-commerce and build my own business' project director. Hafizur Rahman told Jago News that this is what the government wants e-commerce companies to do business within the rules. The allegations against these organizations are being controlled .

Meanwhile, the Ministry of Commerce to check the activities of the FTA Joint Secretary. Abdus Samad has formed a three-member committee headed by Al Azad. The committee has also started work.

E-Valley, a Bangladeshi digital commercial company, is doing business with an unusual 'cashback' offer of refund as soon as you buy a product. 100 to 150 percent cashback is being offered. Thousands of customers are being attracted by one glamorous offer after another. As a result, while a small number of customers benefit, most are being deceived.

E-Valley is creating a monopoly situation by adversely affecting business competition in the market with such business policies, which the Competition Commission considers a violation of the law. In this situation, the Competition Commission issued a letter to the Chief Executive Officer (CEO) of the company on Tuesday (August 25).

The Competition Commission said in a letter that an offer called 'Eid Dhamaka' had recently surfaced on the e-commerce platform e-Valley's website. This offer includes different types of cashback offers for different products, ranging from 80 to 150 percent. Usually such offers tempt the consumer to buy the product at a lower price. But in the 4th condition of the terms of this offer, it has been said that in the Eid Dhamaka campaign, full payment should be made, not partial payment is allowed. Cashback will be added to the e-Valley balance, three days after payment. This cashback can be used for later purchases from any regular shop in E-Valley. In that case, 70 percent of the product will have to be paid from the balance and 40 percent from the new payment.

The Competition Commission thinks that due to the 4th condition of the e-Valley offer, it has been included in the conditional arrangement as per Section 15 (3) (a) of the Competition Act, 2012 without rebating the conventional discount / cashback / loyalty. Appropriate conditions indicate that e-Valley's cashback offer is likely to adversely affect market competition or cause expansion or create a monopoly situation in the market. In this context, in order to fulfill the purpose of Section 8 of the Competition Act, 2012, he has been directed to provide some information within 15 days of receipt of the letter.

Competition Commission to e-Valley Information about e-Valley (details of the company), annual turnover and revenue-expenditure information of e-Valley (past three years or since its inception), details of products covered by e-Valley, geography of e-Valley products Boundary Details Inside or outside of Bangladesh (if any)} List of businesses that have been conducting business activities through e-Valley and the terms and conditions of business transactions, information on how to do business with 80-150 percent discount, e-Valley What is the difference between Eid Dhamaka offer and other offers (with details), sales during the three months preceding Eid Dhamaka offer, sales during the offer with income and profit, comparative statement of income and profit.

Meanwhile, several banks have already suspended purchases of e-Valley products on their cards after media reports of e-Valley fraud surfaced. Private BRAC Bank and The City Bank and Lankabangla Finance have suspended transactions on the card. All the three companies have informed their customers by text message (SMS) on their mobile phones that the ongoing discount facility for purchasing e-Valley products through the card will be closed till further notice.

Mohammad Russell, managing director of E-Valley, was contacted on his mobile phone on Thursday to discuss the matter, but his phone number was found blocked.