Dr. Muhammad Mahtab Hossain Mazed :
From tea shops to famous newspapers and other media, the issue that has become the focus of discussion is the unbridled rise in commodity prices. The traders are putting the common people in trouble by increasing the prices of daily necessities by making syndicates on various pretexts.
Once the price of a commodity increases, it does not decrease. Although various government agencies are working in this regard, they are not playing an effective role, so the price of goods is not being controlled. And the price of goods in our country increases for no reason.
If any excuse is found, the prices of daily necessities are increased. Sometimes due to fasting, sometimes Eid or sometimes due to the announcement of the national budget, increasing the prices of goods has become a regular occurrence.
And we have been noticing this evil trend since our childhood and even today the same trend continues.
Rather, it can be said that the trend has now increased at an exponential rate. And among the many reasons for this, the main reason is that the import-dependent business is concentrated in the hands of a few big businessmen.
Another reason is that even if the food production in the country, especially the production of agricultural products, has increased enough, the people do not get the benefits because of not being able to build a modern storage system and a quality market system.
And the prices of daily necessities are increasing at such an abnormal, unexpected and sudden rate that the common man is in a state of despair. As a result, the living conditions of the low-income people to the middle-class people are becoming increasingly miserable.
For them, the rise in the price of goods is like a new curse! If this continues, it will become more and more difficult for the middle class to survive. And the reason for this increase in commodity prices is the addiction of traders to gain excessive profit, illegally increasing the stock of any product, shortage of raw materials and energy for the production of food or daily necessities of the market, not setting fair and fixed prices, reluctance to monitor the market, etc.
If the price of goods continues to rise like this, our economy will collapse very quickly. Therefore, the current interim government should take appropriate and effective steps now. In this case, the first thing that needs to be done is that the institutions involved in market regulation i.e. TCB, Directorate of Consumer Protection should take strict action. The perpetrators of sudden changes in commodity prices in the market by creating artificial crises must be rooted out.
Reasons for the increase in commodity prices:
Through various reviews, the reasons for the constant increase in commodity prices in the country have come out, which are- 1. Traders’ syndicates are a major cause of commodity price hikes. It is often alleged that a class of highly profitable unscrupulous traders control the market by hoarding commodities. The government has also blamed the syndicates of these traders for the increase in commodity prices at various times. 2. Heavy extortion on industrial owners, entrepreneurs, producers and traders is another reason for the increase in commodity prices. Traders and producers compensate for the loss of levy paid by extortionists by increasing the price of goods. As a result, common consumers are affected. 3. The effect of an increase in the price of goods in the international market also affects the domestic market. When the price of a product increases in the international market, its price naturally increases in the domestic market. 4. Due to the increase in duty, the price of goods also increases. Negligence and failure of the government in market regulation and supervision is a major reason for the increase in commodity prices. 5. Although the government has at times blamed the traders’ syndicates for the rise in prices, administrative action against them is rarely seen. Due to illegal bribery, the nuisance of black marketers is increasing gradually in the country. As a result, despite the reduction in duty, in most cases the price of goods does not decrease.
Finally, special attention should be paid to ensure that unscrupulous traders cannot illegally stockpile products and ensure proper implementation of the law. Even the government has to be more proactive to overcome import dependency.
Upazila-wise cold storage should be established for proper storage of perishable food products. In the country, 30 percent of food products are wasted annually due to lack of preservation. As a result, it will play a leading role in reducing the pressure of daily necessities in the market. Along with the government, we also have to play a proactive role.
Apart from preventing wastage, special attention should be given to ensure that even an inch of land is not left uncultivated. Basically, if we try to produce our necessary goods, on the one hand, as the tendency to import will decrease, the evil intentions of the profit-seeking traders will also be thwarted.
It should be remembered that the overall issue of market control is not in our hands, but if we are aware, the increase in daily necessities is bound to go down. So we have nothing to do with the increase in the price of goods in the international market. But the government can reduce taxes as per need. Now is the time to take advantage of the tools that government policymakers have at their disposal.’
The author is a columnist and researcher
Founder and Chairman, Jatiya Rogi Kallyan Society
Email, [email protected]
