Market intervention, where necessary
Saturday, 13 March 2010
ANY government in Bangladesh will be required to follow a mix of policies. While promoting market economy, it would also have to go for selective market intervention to get the best results. Businesses should enjoy the freedom when and where they behave and act responsibly and ethically.
For abusing such freedom, they should expect intervention and deterrent actions from the government. Otherwise, it would provide them the licence to do whatever they like. It would be business outside the bounds of the law, reason and ethics as the consumers see all the time in Bangladesh. Businesses must adhere to the rules and regulations to keep the country's economy in good shape and protect the consumers. If they do not behave, it is for the government to enforce the rules and regulations.
Even in the USA, the government had to intervene in the market. So, government's intervention, as and when necessary, must be seen as a perfectly normal exercise everywhere -- and it should not be avoided as a scary or unthinkable art.
The government would be well advised to set its focus right in this crucial area early in its tenure. Otherwise, it will never be able to normalise the prices. Traders would never lower the prices to their reasonable and rational levels. Without proper market monitoring and regulations, they will never do it. This has been our unchanging experience over the years.
Shimul Biswas
Khilgaon Chowdhurypara,
Dhaka
For abusing such freedom, they should expect intervention and deterrent actions from the government. Otherwise, it would provide them the licence to do whatever they like. It would be business outside the bounds of the law, reason and ethics as the consumers see all the time in Bangladesh. Businesses must adhere to the rules and regulations to keep the country's economy in good shape and protect the consumers. If they do not behave, it is for the government to enforce the rules and regulations.
Even in the USA, the government had to intervene in the market. So, government's intervention, as and when necessary, must be seen as a perfectly normal exercise everywhere -- and it should not be avoided as a scary or unthinkable art.
The government would be well advised to set its focus right in this crucial area early in its tenure. Otherwise, it will never be able to normalise the prices. Traders would never lower the prices to their reasonable and rational levels. Without proper market monitoring and regulations, they will never do it. This has been our unchanging experience over the years.
Shimul Biswas
Khilgaon Chowdhurypara,
Dhaka