With the Ramadan only a couple of days away, prices of essential commodities have begun to go up. There is too the fear that they will further go up in the course of the month. In other words, citizens now find themselves in a situation where their backs are pressed hard against the wall.
In such circumstances, the authorities must go for steps that will prevent the crisis from worsening. This can be done through engaging the business community more intensely, specifically because the latter has taken upon itself the responsibility of monitoring market prices. Obviously, if businessmen are willing to do that job, nothing could be better. It now remains to be seen how they do it. What has been made patent in these past many months is that any external surveillance of the market, particularly through a deployment of law-enforcing agencies, leads to panic among traders. Such a fear psychosis does not bode well for smooth market operations. An important aspect of the problem is the need for good, purposeful coordination between retailers and wholesalers.
In the broad sense, conditions in the market, both during Ramadan and outside it, must be regulated through decisions made on a data-based approach. That will mean making accurate assessments relating to demands for the supply of goods to the markets to square up with the former . In turn, it will mean keeping the supply chain going through efficient procurement and transportation of goods. Such an approach to dealing with prices will smoothen the process of uninterrupted distribution, which logically should then prevent any rise in prices. But of significance is the question of how practicable the idea will be, given the tendency of the traders to go for a hike in prices on flimsy pretexts. One hardly needs emphasising the crunch citizens have been going through in the market. One also remains aware of how eagerly dishonest traders are looking to Ramadan to add to their coffers. They should be ethical enough to spread their profits thin rather than making a windfall. The business community must now be called upon to fulfill its promise of monitoring prices -- and keeping them under control.