Balancing between faith and commerce during Ramadan

The holy month of Ramadan, marked by self-restraint and self-purification, is eagerly awaited by the Muslim world. While Ramadan is often regarded as a time for heightened commercial activity, traders in many countries, including Qatar, Iran, and Saudi Arabia, endeavour to lower the prices of commodities during this time.
However, in Bangladesh it is a different picture. The consumption and prices of numerous food items surge. Individuals fervently purchase new clothes and cosmetics, with a focus on Eid, thereby stimulating economic activity. Concurrently, the transport sector experiences heightened activity, further bolstering mobility of people and goods.
During this period, it is imperative to mitigate the cost of conducting business by curbing monopolistic practices and hidden costs. Failure to do so exacerbates the burden of inflation on the middle class, lower middle class, and lower-income groups.
To combat inflation, there is an urgent need for market monitoring system, comprising representatives from the administration, traders, and consumer rights protection committees at various district and upazila levels. Besides, the availability of TCB products at fair prices must be made available nationwide.
Additionally, unscrupulous businessmen should be reined in.

Puja Kundu
BBA in Finance
North South University
[email protected]