Intensify market monitoring

Given the current situation in the country, it is crucial to implement effective measures to control the rising prices of essential commodities. The continuous increase in prices is making life increasingly difficult for ordinary citizens, particularly those with limited incomes, such as the middle and lower classes, who face significant challenges for daily survival.

Every essential item, from rice, pulses, and oil to onions and vegetables, has seen price increases, with some products rising by more than 50 per cent. While local businessmen often cite increases in global market prices to justify their price hikes, they fail to lower prices when the global market declines. Therefore, it is essential to establish strong reserves and implement market control measures to effectively manage the impact of international price fluctuations.

Hoarding, price manipulation, and faulty supply systems are key drivers of rising commodity prices, necessitating government intervention. Traders often create artificial shortages for profit, which harms vulnerable consumers. Regular market inspections and strict penalties for hoarding are essential, along with fair pricing based on demand and production costs to stabilize prices.

Md. Syful Mia

Student, Islamic History and Culture

University of Chittagong

[email protected]