Price stabilisation
Monday, 28 July 2008
THE interim government is seen to be doing otherwise well in different spheres. But in the area of price stabilisation and normalisation, its successes are hardly seen.
The supply of essential commodities still largely remains under the grip of a few large importers. Therefore, the government should go all out to encourage the alternative importers or ones who tried their hands in the import business in the past but failed in the face of the so-called syndicated operations. These people can promptly be provided with facilities so that they can quickly make their presence felt in the import business of essentials. The above approach can be the most appropriate one for avoiding sudden snags or disruptions in normal import operations while also gradually weakening the influences and powers of the so-called coterie of large importers.
Side by side, the government should promptly also activate the decision for fully making the Trading Corporation of Bangladesh (TCB) fully operational, once again. TCB's operations, provided appropriate reforms are made thereto in order to make the same free from corruption and other irregularities as far as possible will offer some relief to consumers from unstable or unreasonable prices. TCB's activities were winded up years ago on the ground of embracing free market economy or the principle that government must not be involved in business operations. But this had proved to be not very helpful under the present circumstances.
Other countries which are also the practitioners of market economy, have maintained such state trading or the capacities in one way or other to intervene in the market, whenever it is felt necessary to help foster competition with private businesses or suppliers to combat the menace of any unethical activities on the part of the latter. Therefore, there would be nothing wrong or inconsistent for Bangladesh to revive state trading for a while on a large scale through the TCB to import essential commodities in bulk and market them in a bid to break the monopolies of private importers and put them under a pressure to operate ethically.
Shajib Chowdhury
Nayapaltan, Dhaka.
The supply of essential commodities still largely remains under the grip of a few large importers. Therefore, the government should go all out to encourage the alternative importers or ones who tried their hands in the import business in the past but failed in the face of the so-called syndicated operations. These people can promptly be provided with facilities so that they can quickly make their presence felt in the import business of essentials. The above approach can be the most appropriate one for avoiding sudden snags or disruptions in normal import operations while also gradually weakening the influences and powers of the so-called coterie of large importers.
Side by side, the government should promptly also activate the decision for fully making the Trading Corporation of Bangladesh (TCB) fully operational, once again. TCB's operations, provided appropriate reforms are made thereto in order to make the same free from corruption and other irregularities as far as possible will offer some relief to consumers from unstable or unreasonable prices. TCB's activities were winded up years ago on the ground of embracing free market economy or the principle that government must not be involved in business operations. But this had proved to be not very helpful under the present circumstances.
Other countries which are also the practitioners of market economy, have maintained such state trading or the capacities in one way or other to intervene in the market, whenever it is felt necessary to help foster competition with private businesses or suppliers to combat the menace of any unethical activities on the part of the latter. Therefore, there would be nothing wrong or inconsistent for Bangladesh to revive state trading for a while on a large scale through the TCB to import essential commodities in bulk and market them in a bid to break the monopolies of private importers and put them under a pressure to operate ethically.
Shajib Chowdhury
Nayapaltan, Dhaka.