Editorial
Jacking up prices of essentials
Why must it happen before Ramadan?
CONSUMERS have by now become habituated to seeing a fresh hike in prices of essentials as the month of Ramadan draws nearer. This has become somewhat of a yearly torment. The manner in which traders' bodies come up with assurances that prices will remain stable during the holy month of fasting has become such a routine manner, that consumers hardly bat an eyelid when prices shoot up.
This year the apex business forum, the FBCCI, has explicitly stated in a recent press conference that the sins of the past will not be committed this year. And like clockwork the Commerce Secretary has expressed his satisfaction that word will indeed be kept.
Why are we not satisfied with such assurances? It has perhaps to do with the fact that despite having ample provisions for the most sought after items on the 'Iftar' menu, prices at both wholesale and retail levels go up and there is hardly any government drive to hold traders to account. The fact that authorities have let consumers down in the name of laissez faire is hardly an excuse for inaction. Countering business syndicate and unfair business methods through which such malpractices take place would not be an impossible task for the government had the political will existed. We urge the government to engage the trade and chamber bodies, wholesale market operators and the retail networks in periodic consultations by way of monitoring the behaviour of the market and ensuring that the prices remain stable.
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