As the prices soar lower middle income people are crowding before trucks of the Trading Corporation of Bangladesh for comparatively low cost kitchen items ahead of holy Ramzan. TCB has ramped up its operations to beat the abnormal prices amid the lockdown that has significantly reduced the earnings of middle and low-income people. We see edible oil, sugar and some other essential items have already become dearer increasing sufferings of the common people. The government should maintain the supply chain of essential kitchen products during the hard lockdown due from April 14 so that consumers can buy commodities at cheaper prices.
Average people’s income has dropped due to the pandemic-induced economic slowdown. Many employees have lost their jobs. At least 70,000 workers of 106 ready-made garment factories have been laid off. The estimation of job cuts in other sectors taken together would be much more. A survey of the state-run Bangladesh Bureau of Statistics (BBS) finds 20 per cent of working people in Bangladesh have experienced salary cut as an impact of the pandemic. BBS conducted the survey between 13 and 19 September 2020. The pandemic-time shutdown saw a fall in demand in the market, but family expenses did not fall compared to the rate of salary cuts.
As keeping the prices of TCB’s items lower is the main goal of government-initiated open market sale, TCB must ensure that there is no irregularities in reaching commodities to low-income people. The government also has to take steps to arrest price hike before Ramzan. Various syndicates are accused of manipulating the consumer goods market during the holy month. The government must take legal action against hoarders and market manipulators. Besides, we urge the traders to lower the prices essentials during this Ramzan as is seen in many Muslim majority countries in Asia.
