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Commodity price rise and its remedy

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Written by   315
6 months ago

Bangladesh is a developing country in the third world. Most of the population lives here in the poverty line. At present, one of the most talked about issues in the country is the unbridled increase in the prices of essential commodities. Due to black market, profiteers, hoarders, etc., the prices of food, rice, pulses, oil, salt, pepper, sugar, milk and other essential commodities are increasing day by day and it is becoming more and more difficult for the poor and middle class people to procure these products. Public life is in turmoil today, rising commodity prices are forcing people to spend their days half-starved and starving. Everywhere today people demand to live a little better. But the real situation is against them. The price of every commodity is rising as fast as a horse beyond the purchasing power of the common man.

The relationship of life to commodity prices:

The relationship of life to commodity prices is very close and real. How a family manages their daily lives depends on their income, needs and commodity prices. Their lives are cut short when the price of every essential product is at a tolerable level and within the purchasing power of the common man. On the other hand, when the prices of essential commodities become incompatible with the financial well-being of the common man, there is half-starvation, starvation and family unrest in poor and extremely poor families. Therefore, due to the rise in commodity prices, on the one hand, the black shadow of misery descends on public life. On the other hand, the chaotic situation prevails in the country due to profiteering and black marketeers.

Historical context of rising commodity prices:

In the current era of rising commodity prices, no product is available at a fair price. It is as if a fire of higher value is burning in every product. But this was not the case even a decade or two ago. People live their lives as best they can. During the reign of Shaista Khan, the story of eight manas of rice for money seems to be a fairy tale now. Even during the British rule, the country's commodity prices were under control. Although the situation in the country changed drastically after the riots, riots and partition in 1947, the price of the solution was within the reach of the common man. After the birth of independent Bangladesh in 1971, economic catastrophe, famine and epidemic suddenly hit our lives. Gradually most of the necessary commodity prices go beyond the purchasing power of the common man. And the current stage is the extreme stage of its continuity. This is what everyone wants so that this situation does not become more fragile in the future.

Rising picture of commodity prices:

At present, the prices of essential commodities including rice, pulses, oil, pepper, gas and electricity are also increasing rapidly.

Below is a growing picture of rising commodity prices:

(A) Essential Commodities: In July 2002, soybean oil was Rs. 38-40 per liter. In 2014, this price came to 120 rupees. In 2000, rice was available at Rs 10-12 per kg, now it is Rs 30-50. The prices of fish, meat, vegetables, etc. have also gone up much more than in the past. Besides, the prices of other raw materials have gone up unbearably.

(B) Water, gas and electricity bills: Previously, the price of one thousand liters of water supplied by WASA was Tk 4.30. In August 2002 it was 4 rupees 50 paise, from September 2003 it was 4 rupees 75 paise. And now the price has been increased further. Before gas bill, single stove was Rs 210 per month and double stove was Rs 330 per month. From January 2002, the price has been increased to 275 singles and 350 doubles and after only 6 months, the price has been increased to 350 and double 375 rupees from September 2002. At present single stoves are priced at Rs 400 and double stoves at Rs 500 or more. The electricity bill also seems to be constantly increasing by leaps and bounds. Previously, the price per unit was 2.26 rupees if used up to 1-100 units. At present, if 1-85 units are used, it is Rs 3.8 per unit and if 6-200 units are used, it is Rs 5.01 per unit (PDB prescribed). Thus, the additional cost of water, gas, electricity and telephone bills are constantly getting out of the control of the people.

Reasons for rising commodity prices:

Rising commodity prices have made public life miserable. Black marketeers, profiteers, stockholders have made this problem more apparent. To get from the commodity field to the city market, the farmer has to pay a lot of money for subscription, brokerage, middleman, transportation cost etc. The farmer is then forced to increase the price of the product. A class of unscrupulous traders stockpiles goods and only increases the prices of goods many times for their own benefit. Many times traders increase the price of imported goods and sell them. In addition, the price of essential commodities is skyrocketing due to population growth, declining per capita crop land, declining productivity due to land infertility, inadequate marketing of goods due to underdeveloped transport system, smuggling, etc.

Time of Commodity Price Rise:

Although the price of goods increases throughout the year, the price of every commodity more than doubles during the month of Ramadan. Again, due to political reasons such as strikes, blockades, transportation of goods is disrupted and prices increase manifold. In addition, the prices of goods increase abnormally during Eid, Puja, Pahela Baishakh and various other festivals.

Harmful side of rising commodity prices:

When the price of commodities does not match the financial compatibility of the common man, the life of the common man is ruined. Poor and middle class families are in dire straits. And the situation of low income or unemployed people becomes indescribable. Poor people had to go half-starved. Many times it becomes difficult to procure necessities, resulting in famines, epidemics, etc. disasters. Besides, anger and frustration in the minds of the people took the form of protests and movements. Instability and chaos prevailed in the country, as a result of which normal life became difficult. With limited purchasing power, ordinary people become cornered, lost, lost in the market of goods.

Ways to stop the rise in commodity prices:

This rising pressure on commodity prices on the common man needs to be stopped as soon as possible. For this, the black market and smuggling of the country must be stopped first. The law enforcement agencies of the country have to be more strict and responsible. At the rural level, farmers need to increase various facilities including lending. Communication systems need to be developed so that they can easily market products and sell products at fair prices. The government has to fix the price of each product. The population needs to be controlled. In this way the price of goods will be within the purchasing power of the common man.

Steps taken by the government:

Even in this sad day of rising commodity prices, it is hoped that the government has taken some steps to control the rise in commodity prices. Arrangements have been made to draw up a fixed price list of the product in the store so that the sellers do not increase the price arbitrarily. The TCB (Trading Corporation of Bangladesh) has been given the responsibility to monitor the matter. The Ministry of Commerce has been directed to send the list of retail and wholesale prices of sensitive products every week. At present, according to the law, it is mandatory to draw up the price list of the products in the shops. The Ministry of Commerce assists the Ministry of Law in enforcing this law. Besides, the government has made arrangements to punish the dishonest traders through the mobile courts of the country.

What we have to do:

Not only the government, but also the common people need to be aware of commodity prices. We have to build a movement socially to stop the rise in commodity prices. The government should cooperate to bring dishonest and profiteering businessmen under the law. Political parties should also refrain from activities like strikes and blockades.

At present, the government and the people have become aware of anti-social activities. Ordinary people have started protesting. Smugglers and black marketeers are already under the law and are being punished. Traders have started obeying government orders. The country's media is creating awareness about this. In this way, with the joint cooperation of the government, the people and the business community, it is possible to control the rise in commodity prices. This is the desire and dream of the people of the country today.

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Written by   315
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6 months ago

What happened??

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6 months ago

really awesome article style ,i like it . keep it up brother

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6 months ago

Thank you brother

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6 months ago