THE sudden rise in sugar price as syndicates are controlling the supply during Ramzan has come as a big shock to the nation. In fact, the syndicate of stockist and retailers are exploiting the growing demand for essentials during this month and have sent the prices of commodities exorbitantly up. Consumers have become hostage to overheated market. Not only sugar, they are charging huge price, in some cases twice as much for lentils, onion and grams, which are used in plenty during Ramzan. Sugar is now selling at Tk 65 per kg, which is more by Tk 10 compared to refiners’ mill gate price at Tk 48. Market analysts believe sugar must sell at Tk 55 at the highest with a good profit for traders.
News reports said Commerce Minister Tofail Ahmed has warned traders against staggering rise in sugar price but many wonder what purpose this warning will serve if drastic actions do not follow. Market remains as defiant as it was two days back. The Minister has asked Director of the Department of National Consumers Rights Protection to visit city market and monitor price but what about the entire country. People know government officials have hardly any power to secure compliance from the market. Only senior government leaders and policy makers can do it asking market players to keep the supply steady and charge the prices at reasonable level.
Most people believe that the Commerce Minister must take personal initiative and use political pressure on stockist and traders to bring sugar price and prices of such other commodities down. What is important is that the reckless market condition charging exorbitant prices for essentials is only ruthlessly exploiting the poor and common people while the rich have no problem for money. They control business many ways and can buy at any cost.
We know businessmen create artificial supply shortage hoarding stocks and operating under the shelter of ruling party men who give both protection and impunity to them in exchange of sharing excessive profits. The nexus between the business and political leadership at various levels is no more secret and unless this can’t be overcome, market will not behave normal during festivities. Moreover toll collection by party men, police and mugger are also adding to the cost of the essentials forcing buyers to pay for it at the end.
The government must assert control and not just talk. The problem is that the government’s own party supporters are anxious to gain more knowing that they have impunity. Our politics is our misfortune.
