A price regulator in wilderness

All this is because of its deliberate marginalisation in the commerce ministry and internal corruption and mismanagement within the TCB. As a case in point one can cite the instance of TCB importing pulses and by the time the consignments arrived, their prices in the local market fell. They had two choices: either they sold off the stock at prices lower than the price at which they had imported or waited till the prices increased to enable them to meet up the costs, at the very least. What actually happened was foot dragging that eventually saw the pulses rotting.

Set against this backdrop, a parliamentary body has grilled the commerce ministry and TCB for their 'inaction' in checking the prices of essentials despite having a taka 100 crore worth of funds to import goods and bolster supplies by way of keeping at bay the manipulative practices of the vested interest groups. It is alleged, not without foundation, that the TCB was deliberately sidelined so that the so-called syndicates responsible for price hikes could have a field day. Free hand they indeed have had.

Tap here to add The Daily Star as a trusted source

Needless to say that all this points to the imperative necessity for revving up the TCB with a clutch of experts, devolution of adequate power from the top, specified terms of reference, and, above all, an in-built accountability to the parliament.