Editorial
Stemming price hike
Concerted action called for
Unbridled price hike of essentials ahead of the Ramadan has become a matter of public concern,
Evidently, the High court (HC), being alive to this state of affairs, has ordered the government to constitute mobile courts in the capital and Chittagong to monitor wholesale markets and stem the price hike.
We think it is the normal market mechanism of demand and supply that should operate to keep the prices of commodities within tolerable limits. Presumably, the government lacks necessary information in this respect. So, that is one of the reasons why it has largely failed in facilitating the market forces to play their role as they should.
It must also have to be admitted that given their constraints in terms of manpower and other logistics, the mobile courts alone will not suffice to address the Herculean task lying ahead. The government will also have to mobilise all the mechanisms at its disposal towards keeping tabs on the actual demand and supply situation in the market. That would greatly help to identify the market manipulators who are taking advantage of the present situation.
There are also the vested quarters with strong grip over the market. As they maintain strong links to the corridors of power, the government will have to muster a robust political will to bust the evil nexus in the interest of greater public good.
Apart from this, the state-owned trading body, the Trading Corporation of Bangladesh (TCB), should act as a countervailing force against market manipulators. But till date its role leaves much to be desired.
We think, rather than being sporadic, the consultative process with the wholesalers' and retailers' associations should continue on a regular basis. In this connection, the differences of opinion that may arise as well as the operational limitations they face have also to be looked into and duly addressed.
Finally, to get the get the desired result, the government functionaries must come out of their denial mode, accept facts and take urgent actions to stabilise the essentials market.
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