Abnormal hike in prices of liquid and powdered milk
Friday, 19 October 2007
Ziaur Rahman
FOLLIES abound in Bangladesh and none can tell where the next round of absurdity will hit the ground in Bangladesh. During this festival -- Eid and Puja -- season, the center stage has been stolen by grandiose escalation of prices of milk (liquid and powdered). The unfolding story of the skyrocketed prices thereof gives me the temptation to become granivorous (feeding on grains only).
Prices of milk (liquid and powdered) have gone up 17% since the beginning of this month in a bizarre twist of turns. I am really joining the Consumer Association of Bangladesh (CAB) this time and going to seriously work to right-size this uncalled-for situation and work as a pressure group so that accidental price swings do not surprise Bangladesh. Let us all join the consumer movement in Bangladesh and work to keep the corporations in line here in Bangladesh.
This is simply tasteless where to my mind all the multinationals and locals -- NESTLE, NEW ZEALAND, DANO, Daily, Aarong, Milk Vita -- have colluded. It is senseless greed that has gripped them during this festival season. I am requesting all to put up your voices against this onslaught of corporate greed. I am inclined to request all to venture into seriously boycotting drinking milk for a week (which may sound impossible but no harm in trying).
This is oligopoly and has to stop. I also want to see the government doing the right job by penalising these greedy organisations and levy serious sanctions against them. Additionally, I would request the Securities and Exchange Commission (SEC) to force them to sell their shares in the public or else cease and desist. These corporations have had their jolly ride in skimming too much profit that they had never ventured to share with the local public. In other words, they are seriously deficient in their stakeholder management and all of this is going on under the nose of the government. I would request the government wake from slumber and start their drives to bring these corporations to open up to the markets of Bangladeshi citizens.
Coming back to the issue of outrageous commodity price movements, the people of Bangladesh cannot be robbed just because we are dependant on milk (liquid and powdered) or other products for that matter. We will not drink milk for the next few weeks and make you the cheating corporates understand the will of the public and humble you to reduce your prices to levels lower than before or else force you to pack bags and leave the corporate world. We need sensitive, law abiding corporations with positive social responsibility. We do not need cheating and conniving corporates that eat on people's innocence. Just imagine how many poor children's nutrition you are robbing by skimming above normal profits and you can yourselves civilised corporate citizens. Shame on you.
Enough damage has been made and we need to fight back: otherwise, we will be devoured in the long run -- our existence is threatened.
The only practical reason for raising the prices would be if the world market prices had indeed shot up. I think that is a distant possibility and, therefore, I would also volunteer the Anti-Corruption Commission (ACC) to dig into this syndicate of milk supply chain. The dealers of these corporations may also be involved in this heinous spiralling of milk prices.
This piece of writing reflects our discontentment and frustrations over the failure of the concerned authorities to control the markets for greed during sensitive national festivities (Eid and Puja). The government should take note that its popularity also depends, to a great extent, on keeping prices within tolerable limits, especially on staple products like milk, rice, wheat, oil, etc. We, as the public, would like to see exemplary punishment for these wrongdoers responsible for such price-hikes so that Bangladesh does not experience such a specter in the comings days and years or at least send the signal that this price fixing will be dealt with severely if found guilty. Finally, please let us all work together to come out of the grips of a few for the welfare of all and, in this journey, we need every decent citizen's moral commitment.
..................................................
The writer is Chief Executive Officer, International Institute of Technology & Management and can be reached at e-mail: www.iitmbd.org
FOLLIES abound in Bangladesh and none can tell where the next round of absurdity will hit the ground in Bangladesh. During this festival -- Eid and Puja -- season, the center stage has been stolen by grandiose escalation of prices of milk (liquid and powdered). The unfolding story of the skyrocketed prices thereof gives me the temptation to become granivorous (feeding on grains only).
Prices of milk (liquid and powdered) have gone up 17% since the beginning of this month in a bizarre twist of turns. I am really joining the Consumer Association of Bangladesh (CAB) this time and going to seriously work to right-size this uncalled-for situation and work as a pressure group so that accidental price swings do not surprise Bangladesh. Let us all join the consumer movement in Bangladesh and work to keep the corporations in line here in Bangladesh.
This is simply tasteless where to my mind all the multinationals and locals -- NESTLE, NEW ZEALAND, DANO, Daily, Aarong, Milk Vita -- have colluded. It is senseless greed that has gripped them during this festival season. I am requesting all to put up your voices against this onslaught of corporate greed. I am inclined to request all to venture into seriously boycotting drinking milk for a week (which may sound impossible but no harm in trying).
This is oligopoly and has to stop. I also want to see the government doing the right job by penalising these greedy organisations and levy serious sanctions against them. Additionally, I would request the Securities and Exchange Commission (SEC) to force them to sell their shares in the public or else cease and desist. These corporations have had their jolly ride in skimming too much profit that they had never ventured to share with the local public. In other words, they are seriously deficient in their stakeholder management and all of this is going on under the nose of the government. I would request the government wake from slumber and start their drives to bring these corporations to open up to the markets of Bangladeshi citizens.
Coming back to the issue of outrageous commodity price movements, the people of Bangladesh cannot be robbed just because we are dependant on milk (liquid and powdered) or other products for that matter. We will not drink milk for the next few weeks and make you the cheating corporates understand the will of the public and humble you to reduce your prices to levels lower than before or else force you to pack bags and leave the corporate world. We need sensitive, law abiding corporations with positive social responsibility. We do not need cheating and conniving corporates that eat on people's innocence. Just imagine how many poor children's nutrition you are robbing by skimming above normal profits and you can yourselves civilised corporate citizens. Shame on you.
Enough damage has been made and we need to fight back: otherwise, we will be devoured in the long run -- our existence is threatened.
The only practical reason for raising the prices would be if the world market prices had indeed shot up. I think that is a distant possibility and, therefore, I would also volunteer the Anti-Corruption Commission (ACC) to dig into this syndicate of milk supply chain. The dealers of these corporations may also be involved in this heinous spiralling of milk prices.
This piece of writing reflects our discontentment and frustrations over the failure of the concerned authorities to control the markets for greed during sensitive national festivities (Eid and Puja). The government should take note that its popularity also depends, to a great extent, on keeping prices within tolerable limits, especially on staple products like milk, rice, wheat, oil, etc. We, as the public, would like to see exemplary punishment for these wrongdoers responsible for such price-hikes so that Bangladesh does not experience such a specter in the comings days and years or at least send the signal that this price fixing will be dealt with severely if found guilty. Finally, please let us all work together to come out of the grips of a few for the welfare of all and, in this journey, we need every decent citizen's moral commitment.
..................................................
The writer is Chief Executive Officer, International Institute of Technology & Management and can be reached at e-mail: www.iitmbd.org