Take the MPs’ concerns for price hike seriously

We agree with the concerns expressed by 10 opposition members of parliament (MPs) about the sustained high prices of essentials and the role of the commerce ministry in this regard. The lawmakers—from opposition Jatiya Party, BNP and Gono Forum—reminded us how the ministry, in recent months, has failed to bring any semblance of order to the kitchen market. They highlighted its inability to dismantle the syndicates or prevent them from manipulating prices, how Russia's invasion of Ukraine has been used to raise prices (even of products produced locally or imported before the war), and how the rise in transport fares and utility service charges have joined hands with the prices of essentials to increase public suffering.

These concerns came amid fresh hikes in prices of essentials during Ramadan. Over the last couple of days, according to a report by this daily, prices of green chilli, cucumber, brinjal and fruits went up by Tk 20-50 per kg, while those of fish and meat shot up by Tk 50-100 a kg. The recent drop in prices of edible oil, onion and sugar could not bring any respite to the ordinary people as other essentials became pricier. The futility of official action to bring down the prices, despite pledges from the authorities and repeated urgings from the consumers, is thus deeply troubling.

On April 5, as these concerns were raised by the opposition lawmakers—quite passionately, one might add—the parliament was again a people's chamber igniting animated discussions, a scene slightly reminiscent of a time when the House was vibrant with a strong opposition that wouldn't shy away from critical policy and governance issues. There is a beauty to the spectacle of public representatives speaking on behalf of their people, and taking government authorities to task for their failures. A government benefits from the insights of such an opposition. We hope the authorities, particularly the commerce ministry, will take these price hike concerns with due seriousness and initiate appropriate measures to address them.

It must be said at the same time that the main reason for the ongoing crisis is the machinations of the syndicates, with their sphere of influence alleged to run deep into the commerce ministry. The syndicates exploit the lack of a strong oversight mechanism as well as the vulnerability of a market notoriously susceptible to rumours and supply concerns. The government must come down hard on these crooked traders, dealers and importers, otherwise prices will continue to be high or fluctuate, and people will continue to suffer.