Price manipulation mischief

Our own report says that the intelligence agencies will keep a tab on the working of the market forces to report to the commerce ministry thereon for their timely market intervention. We only wish the move had been taken earlier, because not only are the syndicates wily lots they are also supposed to have a political clout which needs time to be worked off. After all, the exercise of political will when the election is approaching is not an easy job. But again the fact of this being an election year should weigh with the government to keep the prices down anyhow to curry favour with the electorate. So, belated as the move certainly is, it better yield some positive results, if the ruling party's electoral prospect is to improve.

The emaciated TCB should be restored to play a robust role in building up adequate stocks of essential commodities like sugar, pulses, onion, gram and edible oil before the Ramadan. The private sector importers need to reckon with a balancing factor in the shape of TCB in the market place.

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We also consider it as good thinking that National Board of Revenue (NBR) is to carry out an assessment for introducing a specific tax rate on essential commodities instead of the existing variable price-based tax rates. This will help cover for the fluctuations in the international prices, thereby keeping the domestic consumer prices stable.

The ministry's decision 'in principle' to form a Nagorik (civic) Committee for each kitchen market to monitor market situation should materialise now without ado.