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Control the price spiral

12 March 2004, 18:00 PM
LETTERS TO THE EDITOR
By AKM Fazlul Haque, Banani, Dhaka
12 March 2004, 18:00 PM
Prices of essential commodities have soared sky-high in the recent years in Bangladesh. Specially in the last one year of the government agencies have not been successful in arresting the sky-rocketing prices of essential commodities affecting the life of common people. The fixed income group is most affected. The traders, specially the importers, have formed syndicate to fleece the common people. Business ethics and morality is something we only talk about but never practice. Traders trade on the helplessness of the consumers whose rights are not protected by law in Bangladesh.

People often ask whether there is any agency which controls the price of essential goods. Its absence has exacerbated the plight of the common man in procuring essential commodities of life.

Globalisation is a good concept in international trade. But a poor, and ill-managed country like Bangladesh cannot hope to reap benefits from it. Rather the unscrupulous trade syndicates play havoc with the lives of common people. Free economy can be successful only when there is god governance.

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Government intervention in price control is a must in Bangladesh. Sector corporations like TCB, ADC, Petroleum Corporation must be strengthened to ensure steady supply of commodities like sugar, baby food, soybean, diesel, fertiliser, kerosene oil etc. etc. If there is any rise in price of onions, pulses, milk food or kerosene, the government should not wait for corrective measures from the private traders and importers. Rather the Sector Corporation concerned should import the specific goods immediately to ameliorate the sufferings of the common people.

The country's economy, especially the price of commodities, should not be left to the whims of the traders.