Take action against market syndicators

Usually, when the month of Ramadan comes, the prices of products, especially food products, in the market increase abnormally. According to people concerned, this price hike is more a manipulation of some profiteers rather than a realistic reason behind it. Businessmen show several excuses in this case.

In the last a few months, there has been a major price manipulation around some essential products including fish, meat, rice and legume in the country's market. The prices of these products have increased in the local market more than the rate at which they have increased in the global market. Although the prices of many products have come down in the international market, however, this has not affected the local market, rather the prices have been increased in some cases.

Buyers say that the price of essentials depend on the whim of the traders. Buyers want themselves to get liberated from this 'syndicate'. Past experience says that traders do not miss an opportunity to increase the price of goods even if they get the slightest reason. It could be a minor natural calamity, a strike by transport owners, Ramadan or an increase in fuel prices. It is often seen that the prices of daily commodities are increasing in spite of adequate stock of products and normal demand in the country. It can be seen again, if the price of a product increases in the world market, it is also increased in the country. However, if the world market decreases, it is not easily adjusted.

Unfortunately, the consumers are also forced to remain captive to the machinations of these syndicates. But even though the administration promised to take action against the price hikers, it was never possible to rein them in. On the one hand, when people's appetites have risen due to continued inflation in the country, unscrupulous traders are making the market more unstable by manipulating the prices of various products abnormally.

Basically, the country's market situation is still not improving. The main reason for this is that high inflation increases the rate of decline in people's real income.

In this situation, the government has taken various steps to control the market. Apart from this, the Directorate of Consumer Rights Protection is conducting regular operations to break various types of syndicates in the market of daily commodities. Law enforcement forces are also working to prevent illegal hoarding. Besides, various types of supervision have been started to keep the supply system normal. However, abnormal prices of products are not coming under control.

It is not known to the policy makers of the government and related organizations that how they are manipulating the price of products in the market. Therefore, the government should increase its surveillance to reduce the instability in the commodity market. Those who are cutting the pockets of consumers by manipulation, should be brought under accountability. Besides, it is very important to break the syndicate of businessmen along with curbing the inflation of the country's economy.