It happens to be an opportunity for Bangladeshi policymakers to cite price hikes in the global market as the logic of increasing prices in the local market. This perennial practice of defending the local business syndicates has been criticised by the media round the year. But this time around, the Centre for Policy Dialogue, a local think tank, in a programme on Sunday presented research papers, revealing the commodity prices in global markets. The paper exposed that prices of essentials in the local market are higher than those of many other cities in the world. Suffice to say, their monthly incomes are higher than those who are living in Bangladesh.
For example, one dozen eggs are being sold at Tk 103 in Dayton in the US and at Tk 85.72 in Malaysian city Cyberjaya whereas in Dhaka it is being sold at Tk 110. A kilogram of onion can be purchased at Tk 55.22 when it is being sold at Tk 37.46 in Azerbaijan capital Baku and Tk 40.9 in the Serbian capital Belgrade. Beef is perennially pricey in Bangladesh when compared to international markets. Locally, beef is being sold at Tk 577, which is Tk 513 globally. In the global market, oil prices dropped down to Tk 126 per litre but in contrast local people are forced to buy Tk 160 per litre.
Businesspeople should know the buying capacity of the consumers is important not only to them but also to the goods producers and agriculture produce growers. The customers are their fellow country people. The well-being of the poor people around a rich person matters in many ways, particularly socio-politically and ethically. Bangladesh is a big consumer base, which looks very attractive for many investors. If the consumers have standard purchasing capacity, the traders, producers and farmers will have their fair share. If not, the amount of consumption will be nosedive, affecting everyone in the supply chain. If a market controlling management on the part of the government in place, none in the supply chain will lag behind. A win-win situation is a must for traders and customers and both need to benefit from the system in place.
We urge the government to end the practice of mollycoddling the privileged ones, particularly the businesspeople and syndicates. Common people deserve attention and a democratic government must safeguard their rights. Hoarders and market manipulators must not be pampered rather they should be disciplined.
