Bringing prices under control

Lately, commodity prices have been rising uncontrollably. As a result, low-income people and the middle class have been finding it harder to afford some of the most basic commodities. Even though prices have been rising, peoples' incomes have not gone up nearly as much. There is a big difference between the average per capita income of our people and their real income.

Retailers shift the blame of hiked prices on wholesalers saying they purchase things at higher prices from the latter and so they sell at higher prices. When the supply of a product cannot match with the demand, the price of the product can increase. But in our country there is a dishonest cycle of traders. They create a kind of artificial crisis of products and increase their prices as per their will.

In a free market economy, the government does not have the opportunity to control the market. As a result, low-income groups in our country are living in a very fragile situation. The authorities concerned should take exemplary punishment measures to ensure adequate supply of goods, and create a consumer-friendly market system. The unscrupulous traders involved in creating artificial crisis must be brought under the law. The law enforcement agencies should also keep a close eye on monitoring the market.

Mahmudul Haq Hasan,

Dhaka College, Dhaka,

mahmuddadc@gmail.com