The holy month of Ramadan is a month of restraint, self-purification and compassion. But unfortunately, in our country, an uncomfortable reality comes to the fore as soon as this month arrives, the abnormal increase in the prices of daily necessities. The news of the increase in the prices of rice, pulses, oil, sugar, chickpeas, dates, vegetables and meat in the market on the first day of Ramadan has created anger and frustration among the common people.
Market analysis shows that although demand increases slightly during Ramadan, there is no evidence of a significant shortage in supply. Still, prices are increased in the retail market. Even if there is a slight change at the wholesale level, its impact is multiplied at the retail level. This makes it clear that the weakness of market management, lack of supervision and manipulation by middlemen are more to blame than any supply issue.
Every year, the government takes various initiatives ahead of Ramadan such as reducing tariffs, facilitating imports, operating mobile courts, selling goods at subsidized prices through TCB, etc.
Yet the reality is, the effectiveness of these initiatives do not work at the field level. As a result, a large gap remains between policy and reality. The question arises, how effective is the coordination of relevant agencies in regulating the market?
To deal with this situation, the government needs to strengthen market monitoring. At the same time, the supply chain from wholesale to retail must be made transparent. The Department of Consumer Rights Protection, district administration, and law enforcement agencies must play a more active role.
The biggest challenge now is to ensure that Ramadan is not a month of suffering for anyone. Only a combination of morality, responsibility, and effective administrative measures can stop this abnormal trend of price hike.
MD. Noor Hamza Peash
LL.B. Student
Department Of Law, World University of Bangladesh
