Strict measures needed to stabilize the market before Ramadan

There is still a month left until the holy month of Ramadan begins, but the shape that the daily necessities market has become a cause for concern for the common people. Like every years, unscrupulous traders use various tactics to increase prices ahead of Ramadan. This year’s picture is no different. The prices of essential commodities like soybeans, sugar, pulses, chickpeas, and ginger are increasing at both the wholesale and retail levels.
Surprisingly, there is no shortage of any product this time. In fact, the Bangladesh Bank and the Ministry of Commerce are reporting double the import of some products compared to last year. But traders have no end to excuses. Every time they present some excuse or the other. This time the name of that excuse is – the delay in unloading goods at Chittagong Port and the shortage of lighter ships.
As reported, there are about 4.5 million tons of consumer goods waiting to be unloaded at the port’s outer docks. If this is true, what have the relevant government departments been doing so far? To resolve the congestion at the Chattogram port, quick and effective steps must be taken to release the stuck consumer goods into the market.
Economists and consumer rights organizations are right to say that businessmen are always looking for some loophole to syndicate and make profits. Despite the fact that the number of LCs opened for dates, chickpeas, and pulses in September-October compared to the previous year, there is no reason for the prices to increase.
Although Ramadan is a month of restraint, it has become a tool for profit for a certain class of businessmen. To stop this culture, mere assurances will not work. The Ministry of Commerce and the National Consumer Rights Protection Department should not just conduct public campaigns, but should strengthen ‘monitoring’ at every step.
The government must remember that maintaining food security and market stability is one of its primary responsibilities. If strict action is not taken now to break the syndicate and supply chain, once Ramadan begins, the inflationary pressure will be beyond the reach of the common man. We hope that the government will give more importance to alleviating the hardships of the common man’s life than the interests of a few unscrupulous businessmen.
We, therefore, urge the government to take strong action to prevent any market manipulation. Unscrupulous businessmen must be restrained and brought under the law.