Keeping market stable: no rhetoric please!

The holy month of Ramadan is a time for self-restraint, reflection, prayer and empathy. But in this holy month, the unholy practice of market manipulation to artificially jack up commodity prices reaches its peak, putting consumers across the board in serious trouble.
The high-ups in the government have already started giving assurances about keeping the market stable during Ramadan. But if past experience is anything to go by, all these promises and reassurances of checking price hikes in Ramadan are nothing but political rhetoric. In reality, we have already started witnessing another round of price hikes of essential commodities.
The government has already announced a set of measures like selling fish, meat, eggs and other essential commodities at subsidised rates to control price hikes during Ramadan. But if the volume and area coverage of the government's Open Market Sale (OMS) is not increased substantially, it will have little to no impact on the market.
Additionally, a multi-faceted approach will be required like increasing market monitoring, tracking supply and demand dynamics and identifying potential issues that lead to price hikes early so that timely countermeasures can be taken. This necessitates collaborative efforts between government agencies, businesses, and community leaders to develop a coordinated strategy.
In conclusion, as we prepare for the month of Ramadan, let us embrace a collective responsibility to ensure that our practices align with the values of restraint and compassion, which the month of Ramadan teaches us to uphold in our daily lives. By following these values, we can foster an environment where everyone can observe Ramadan without the undue financial stress associated with price instability.

Sajjadur Rahman, student, University of Dhaka