Commodity Exchange has turned into gambling den

New Delhi, July 14 (UNI) The Bharatiya Janata Party today expressed its serious concern at the manner the Multi Commidity Exchange was working in the capital and demanded that it either be regulated properly or shut.

About 1,000 party workers today held demonstrations on the issue, saying that in the absence of regulations at commodity exchange it had become a speculative market.

Addressing the gathering, senior BJP leader and former HRD Minister Murli Manohar Joshi said there was no shortage of various commodities in the country but the multi national companies had created an artificial scarcity by hoarding stocks.

BJP National Secretary and former union minister Vijay Goel asked the government to come out with a White Paper, explaining how the farmers had been benfitted from commodity market in the last one year.

He wanted the government to make delivery of commodities compulsory for the transaction entered through commodity market.

Besides the regulator of forward market commission should be given more autonomy to regulate the market effectively.

Unless the Government regulated the market, provide a remunerative price to farmers and check price rise of various commodities, commodity trading should be suspended, Mr Goel said.

He said a high-level committee comprising of non-government officials be set up to advise steps for regulating the market.

UNI KAS VD GC1726