Editorial
Unbearable prices
Helpless administration
All the assurances of the commerce ministry and all the demonstrable actions of the administration to curb the rising prices of essentials, particularly of those that are in most demand during the month of Ramadan, it seems, have come to naught. And, unfortunately, it is the fixed and middle income groups that have to bear the brunt of the strain.
The prices of these items have literally taken a huge leap in a space of a less than a month leading up to Ramadan, as they do every year. But there are no explicable reasons for doing so, given that neither the prices of imported items have gone up in the international market, nor are there any shortages at home. That being so, we would want an answer as to why, as reported in newspapers, some of the imported items are selling at almost double the purchase price, and most items at more than fifty percent of cost price?
We fail to understand why the government is completely unable to stem the price spiral. Is there no mechanism to ensure that the government fiat on prices is followed? We are sorry to see that the TCB has not been as effective as it might be. We understand that the government trading agency is not expected to be a competitor of the private sector but it can at least intervene to influence the market.
Under the present situation the government cannot be seen to be inactive. Apart from getting the oversight mechanisms geared up, he commerce ministry must strengthen the TCB by giving it not only more funds but adequate infrastructure also. It is high time too that the government legislate something like monopolies and restrictive trade practice act ad set up a commission in this regard to address this reprehensible phenomenon.
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