Taming the market prices
Friday, 29 January 2010
THE incumbent government started its journey over a year back acutely conscious that it must give the topmost priority to bringing down the high prices of goods. It is now important for it to live up to its commitment made in the election manifesto as well as the spirited declaration that its leaders made about price normalisation, both before and after the election.
However, it seems that this government is acting no different from its predecessor ones, with exhortations to businesses to operate ethically. But all concerned should realise that moral words flung at traders and the like, or only fiscal measures taken at its end, will be floundering, just like in past, from the unrepentant and insensitive actions of some unscrupulous persons selling the goods.
One understands that price control for the time being cannot be the charge of only one ministry such as that of commerce. It has to be the collective charge of several ministries working in coordination. But their main lookout for the present should be coordinated action to take care of the non-economic reasons for the price-rise. For example, the home ministry can operate the police to monitor the kitchen markets regularly to discourage profiteering and to nab the toll collectors at various stages who play a part behind the price-rise.
The communications ministry, on its part, can be directed to take all measures on a sustainable basis to aid in the keeping of the transportation smooth for all types of essential goods. And the commerce ministry, in tandem with the finance ministry, should be always doing the best in taking fiscal measures to keep the prices of imported commodities on the lower side.
Abdul Wahab
Gandaria, Dhaka
However, it seems that this government is acting no different from its predecessor ones, with exhortations to businesses to operate ethically. But all concerned should realise that moral words flung at traders and the like, or only fiscal measures taken at its end, will be floundering, just like in past, from the unrepentant and insensitive actions of some unscrupulous persons selling the goods.
One understands that price control for the time being cannot be the charge of only one ministry such as that of commerce. It has to be the collective charge of several ministries working in coordination. But their main lookout for the present should be coordinated action to take care of the non-economic reasons for the price-rise. For example, the home ministry can operate the police to monitor the kitchen markets regularly to discourage profiteering and to nab the toll collectors at various stages who play a part behind the price-rise.
The communications ministry, on its part, can be directed to take all measures on a sustainable basis to aid in the keeping of the transportation smooth for all types of essential goods. And the commerce ministry, in tandem with the finance ministry, should be always doing the best in taking fiscal measures to keep the prices of imported commodities on the lower side.
Abdul Wahab
Gandaria, Dhaka