Dhaka,  Saturday
18 January 2025

UPWARD MOVEMENT OF COMMODITY PRICES

What steps are being taken by govt to bring down price hike?

Iqbal Hossain

Published: 03:54, 1 February 2024

What steps are being taken by govt to bring down price hike?

Photo : Messenger

The people are being irritated and helpless day by day in the tyranny of cheating by the dishonest businessmen in Bangladesh. They increase the price of different commodities in different unreasonable pretexts. The businessmen increase prices due to the hot weather and if the raging of the cold is felt severely, then they also increase the prices of commodities.

Even if the rain falls excessively, the essential commodities-rates are enhanced. If the businessmen know that an imported commodity will come in late in the country, then they will increase the price of that article despite the remaining stock. Besides, our dishonest businessmen keep storing up a price increase, creating crisis of commodities in the markets.

The businessmen have been doing this cheating for a long time. They are making hills of money through this immoral and inhuman act. On the other hand, the common people cannot beat time with the upward movement of the unbridled markets-rate, so they are living in trouble. The authority of market controlling is imposing fines to the dishonest businessmen who sometimes driving campaigns in the markets. But no good result is coming. It can be said for example: A certain commodity’s price is being increased by 50 taka in some installments. The businessmen probably bring down 2 taka due to government pressure. But the buyer’s trouble is not being solved by decreasing a little. In the opinion of market analysts, businessmen are increasing prices through syndicates. The immediate past government could not break the syndicate. The former commerce minister said that it was impossible to break this businessmen’s syndicate.

The newly elected Awami League government has started its journey. They have taken the controlling price hike on essential commodities as a challenge. Meanwhile, the ministers who are related to this problem have met the businessmen and have started campaigns in different markets of the country. A small amount of penalty has been collected from some dishonest businessmen. But these businessmen are not caring for these fines. The price of rice is increasing rapidly in spite of remaining stock sufficient rice in every market.

The new finance minister and commerce state minister both have informed that they must take strict steps to control commodities’ prices and they have also given a careful message to the businessmen. If the pace is not taken to bring the price of commodities into the range of the common people very soon then our greedy, inhuman and dishonest businessmen will throw the people into great anxiety one more time in Ramadan. The economists have said if the step of remedy is not taken instantly, the consumers have to be persecuted once by the syndicate.

So, there is no alternative to driving strict campaign against the illegal hoarders. Commerce state minister Ahsanul Islam Tito said, “The price of all essential commodities will be controlled before Ramadan. For this reason all importance preparations will be taken. On the occasion of this year Ramadan the sufficient foods have been reserved”. It is learnt from the government that India will export sugar and onion in Bangladesh before Ramadan. Twenty thousand metric ton onion and 50 thousand metric ton sugar will be imported very soon.

Very recently the prime minister has directed NBR to reduce duties on date, sugar, rice and edible oil during Ramadan. Besides, the commodities included sugar is coming from different countries including Brazil.
The market analysts are saying that in spite of taking different steps including market-observation from the government the price of commodities is remaining uncontrolled. One class of businessmen increase price of essential commodities just before Ramadan. The dishonest syndicate increases prices to their liking not to care of international market-value. The government has to be strict against the dishonest businessmen in interest of people’s fasting prayer safely in Ramadan.

It is learnt that different paces are taken from the government to stop the dishonest syndicate’s tyranny and to keep commodities’ prices within the buying-capacity of the common people. The special campaign, mobile court and fine are also done side by side monitoring for keeping stability the markets. In spite of these programs the syndicate’s tyranny is not stopping. The businessmen say about the price-increasing, ‘When the campaigners come then buying and selling is done in fixed price. After going back of the campaigners, we buy and sell in our rate.

The consumer rights preservation office is saying, ‘Due to defective marketing-management of the country the price of same commodity is increased excessively through different hand-changing. If the illegal commodities are stored then the problem of supply-chain is made. The dishonest businessmen make slow the supply-management in the markets, creating artificial crisis. For this reason, the dishonest businessmen will be punished bringing under jurisdiction of the act’. The department will take proper step if anyone increases unreasonable price of any commodity.

According to government information since the sufficient essential commodities are stored in the country, because of that there is no logical reason of increasing price. The government is thinking of buying edible oil, sugar, onion, date and pulse in logical rate in Ramadan.

The Director General of the National Consumers Rights Preservation said, ‘There are enough commodities in the country. The campaign will remain running against illegal hoarders. General Secretary of the Bangladesh Economy Association professor Dr Aynul Islam said, ‘Separate specialized markets can be made for the controlling the syndicate of commodity-price in Ramadan. The various commodities of Ramadan including fish, meat, milk and egg can be taken step of selling in a cheap rate’. He said, ‘We have to take pace of arriving TCB’s programs at more excess people to keep fixed the markets and have to enhance the government’s control in agriculture sector with that’.

So, if the programs are implemented those have taken by the government to control the price of essential commodities and if the price of commodities is brought under common people’s buying-ability then the people will live in comport and peace.

The writer is a columnist and retired director of Shilpakala Academy.

Messenger/Fameema