Editorial
Keeping the prices down
Monitoring of markets by inspectors imperative
WE have heard for the umpteenth time that the rise in domestic price of essentials is the result of hike in the international markets. But there is more to it.
Market analysts detect unholy manipulation of the internal markets by a network of importers, wholesalers, stockists and retailers, which has resulted in the prices going beyond the purchasing ability of the people. The common motive here is making exorbitant profit by these groups of people. But in their public posturing the wholesalers blame price rise on the retailers and vice versa. The presence of middlemen across the distribution network is a cogent factor that also contributes largely to price hike. This has been gong on since the markets across the country began to go berserk in the last one year.
Apparently there is no one around to oversee what kind of prices retailers are charging their customers and whether the prices are abnormally high compared to the prevailing rates in the wholesale outlets.
Many meetings between business leaders and government representatives in last one year have led to no worthwhile solution to the impasse. The only ray of hope now is having the Boro rice coming into the markets in another two weeks. But that is expected to stabilise the price of rice only, leaving other commodities at the mercy of the traders.
We believe the various associations of traders should initiate a mechanism from within themselves to persuade their constituents so that no one can charge abnormal prices to consumers. Display of price charts in shops is a common practice in many parts of the world; therefore this can be introduced in a foolproof way. In this context we wonder why the previous attempts to display such charts failed. We believe regular visits by market inspectors would make a difference at times like this.
Whatever the steps are, traders should be taken into confidence and given the right kind of motivation to keep their profit margin at a tolerable level.
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