Consumers across the country have been in a bitter mood due to the rising costs of living. The upward movement of prices has not been a creeping one . Price rises have been accelerating over the months.
In this context, the latest move by the government to step up surveillance and monitoring operations have been welcome, as it is having some positive impact on arresting further upward rise of prices essentials in the retail market particularly during the month of Ramadan. The law-enforcing agencies are doing a commendable job by keeping track on price-movements in the retail markets, particularly in Dhaka city. Without such operations, the prices would have further risen during this period of the year. Thus, the government on its part is seen as not insincere to keep prices stable. It had earlier reduced substantially import duties of essential consumption items like cooking oil, pulses and spices. It had also reduced the LC margin for the import of foodgrains. All of these steps should have enabled businesses to offer these goods at a cheaper price because of the lower import costs. However, the benefits, in reality, have not reached the consumers, The fixed income earning groups of consumers have been put to great distresses due to the phenomenal price-rise over the past several months.
Meanwhile, we would expect the government do all the needful in a continual way to mitigate the sufferings of the people because of the inflationary situation. While doing so, the government should give the correct signals tot he business about its pro-active stance on mitigating the sufferings of the common people.
Samiul Haque
Dhanmondi, Dhaka
Pro-active stance of govt on arresting price-rise
FE Team | Published: October 01, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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