MEDIA reports mentioned that prices of many Ramzan essentials have become dearer both in the retail and wholesale markets ahead of the holy month of Ramzan despite taking several measures. To avert the trend and ensuring the consumers’ interest, Dhaka North City Corporation (DNCC) has decided to put up price charts of essential commodities in its markets from the first day of the Ramzan. Such intervention from the several government agencies were taken in the past but ultimately become futile due to lack of proper monitoring and enforcement. So, this time when the DNCC forwarding the old model, we are in doubt whether the plan will become successful .
The decision was made at a view-exchange meeting with traders of different kitchen markets following a discussion which focused on the fact that traders hiked prices of different commodities at their own will during Ramzan. The traders assured that they would follow the chart while DNCC said it would monitor the markets. The DNCC also fixed the red meat prices following Dhaka South City Corporation (DSCC), which on Tuesday fixed the prices of beef, buffalo meat and mutton lowering prices by Tk 5- 50 for Ramzan.
Just a fortnight before, traders gave the same assurance to the Commerce Minister citing that there was an adequate supply of Ramzan essentials to serve the local markets. After the flush floods in the Haor area, the prices of all varieties of rice went up and the other essential items are also dearer now. The importers said the hike of imported goods increased due to a sudden hike of the dollar rate against Taka. Thankfully, to bring the essential goods prices within the reach of low-income people, the government has initiated Open Market Sale (OMS) but many who stay hour after hour before OMS selling trucks alleged that the supply is inadequate as middle class families are also in the queue.
When the essential commodities prices go up, the government said there was no reason for price hikes but no enforcement was seen in the past years. If the trend goes on this year, the assurance that comes from the traders and the charts hung by DNCC will be futile. As the DNCC or DSCC do not cover the entire population, the government should form monitoring cells, comprising Executive Magistrates and Traders’ Associations in every district, thus nobody can manipulate the market equilibrium. Besides, the supply chain should be continued, transportation should be flawless and other variables of market should be working to maintain price equilibrium of demand and supply at which point suppliers and consumers both would win.
The decision was made at a view-exchange meeting with traders of different kitchen markets following a discussion which focused on the fact that traders hiked prices of different commodities at their own will during Ramzan. The traders assured that they would follow the chart while DNCC said it would monitor the markets. The DNCC also fixed the red meat prices following Dhaka South City Corporation (DSCC), which on Tuesday fixed the prices of beef, buffalo meat and mutton lowering prices by Tk 5- 50 for Ramzan.
Just a fortnight before, traders gave the same assurance to the Commerce Minister citing that there was an adequate supply of Ramzan essentials to serve the local markets. After the flush floods in the Haor area, the prices of all varieties of rice went up and the other essential items are also dearer now. The importers said the hike of imported goods increased due to a sudden hike of the dollar rate against Taka. Thankfully, to bring the essential goods prices within the reach of low-income people, the government has initiated Open Market Sale (OMS) but many who stay hour after hour before OMS selling trucks alleged that the supply is inadequate as middle class families are also in the queue.
When the essential commodities prices go up, the government said there was no reason for price hikes but no enforcement was seen in the past years. If the trend goes on this year, the assurance that comes from the traders and the charts hung by DNCC will be futile. As the DNCC or DSCC do not cover the entire population, the government should form monitoring cells, comprising Executive Magistrates and Traders’ Associations in every district, thus nobody can manipulate the market equilibrium. Besides, the supply chain should be continued, transportation should be flawless and other variables of market should be working to maintain price equilibrium of demand and supply at which point suppliers and consumers both would win.
