Photo: Collected
This is the major factor driving commodity price surge. Due to sustained high inflation, human suffering continues to increase. Despite various government measures to control inflation, the desired benefits have not been achieved. At a budget dialogue organised by the private research institute Center for Policy Dialogue (CPD) on Wednesday, speakers highlighted that the country's major issue at the moment is inflation. They pointed out that unscrupulous syndicates are more responsible for inflation than currency and finance.
The speakers emphasised that unless opportunities for black money investment are closed and syndicates are dismantled, inflation will remain uncontrollable. Effective measures must be taken to address money laundering and other related issues for long-term benefits. The discussion identified the main causes of high inflation and potential solutions to the problem. Therefore, urgent steps should be taken to address this issue sustainably.
One of the main reasons for high inflation is the continued manipulation of daily commodities. Despite numerous reports, strict action is not taken against those directly or indirectly involved in these activities. Even when the production, stock, and supply situation of various products is normal, unscrupulous businessmen manipulate prices and cause sudden increases. They also seize large sums of money by creating artificial shortages of goods. This volatility in the commodity market can occur even during peak seasons and is exacerbated by the country's dependence on imports. This crisis can become more severe if not addressed effectively.
The effectiveness of market surveillance organisations in addressing this problem is questionable. There are widespread discussions about collusion between dishonest officials and employees of these organisations and unscrupulous traders. It remains unclear what measures the authorities are taking to address internal corruption. Regardless of the number of steps taken, achieving the desired outcomes will be uncertain if there is corruption within the system.
To ensure that poor people can regularly access nutritious food, the market conditions for daily commodities must be stabilised. Any unscrupulous businessman attempting to manipulate prices should be promptly identified and face legal action. Many people in the country are forced to endure a dehumanised life due to the exorbitant cost of living. Therefore, it is imperative to dismantle syndicates in the commodity market and ensure fair practices.
Messenger/Fameema
