Prices need coming down

The current prices are easily all-time high, and let's not forget, affecting by far the largest segment of our population whose purchasing power has terribly dwindled over time through an inflationary denudation which the rich could jolly well cushion off. In fact, the rich-poor gap having increased, the brunt of higher prices has to be borne by the poor entirely.

The whole approach of the government to higher prices has been more academic than pro-active. Either it is citing all sorts of reasons for them, or at best trading of blame between ministries. But where is the action?

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There is much talk about the VGF programme and open market sale of rice and a few other essentials, but in spite of all these the prices are yet to stabilise even at their unprecedented high level.

The speculators and hoarders continue to manipulate the market at will. The scourge of toll collection may have apparently lessened, but the suspicion is that extortion has taken newer, invisible forms marking up the prices anyway in the end. Had the import of consumer essentials been properly planned and timely, speculative trade, to that extent, would have been reduced.

We are aware of the existence of an inter-ministerial price oversight committee. It ought to feel mandated to do something by way of 'intervening' in a free market economy which is being unduly taken advantage of by market players who are largely given to speculative stocking and trading. The committee must constantly keep a tab on the supply side and take steps to strengthen the distribution mechanisms, both in the private and public sectors. All of these can be done reasonably effectively in regular consultation with the business and trade leaders.