High time for the government to take hard actions to contain prices

---

VOTERS in Bangladesh in general were very much swayed by the Awami League's ringing promise that they would normalise prices.
The landslide in favour of this party was prompted in large measure by its loud promise of pushing down the prices. Some 10 million people were earlier reported to be back among the ranks of the poor or slid below the poverty line after overcoming their poverty conditions in the wake of erosion of their purchasing power from relentless rise in prices of basic consumer essentials, particularly in 2007 and 2008.
The price rise badly battered all classes of people but specially 40 per cent of the population who were the poor, were the worst sufferers.
But even the ones not in poverty came nearer to that state or actually turned poor in recent years. Thus, price control is persisting as a huge demand in the country which the victorious election alliance, the Mahajote, could exploit to their full advantage by drawing people to it through their promises of normalising prices on going to power.
In last year, the government succeeded initially to rein in somewhat, the rising prices. Then, the prices in the global commodity markets also declined. This, coupled with some supportive actions by the government, tamed the prices of essentials in the domestic market at the early part of the rule of present government during its first year in office.
But things have changed and are now turning worse.
The government, as it seems, faces now the challenge of keeping its promise of sustainable price control. Promising is so easy. But keeping it is the difficult part.
It is high time that the government must act and act decisively if it wants to truly redeem its promise of price control. People expect quick actions and effective actions.
Naimul Hasan
East Testuribazar
Tejgaon, Dhaka.