The AL's double whammy
IT is not for nothing that market tyranny is again in focus. The proverbial last straw on the camel's back is on the people's back, which has since been cracking for the majority of our population. Actually, it's an elephant in the room, but nobody, except those whose toes the mighty beast steps on, talks about it. Those who are spared the trauma of being trampled by the beast couldn't care less, and prefer to toe the line of least resistance by remaining non-committal.
Yet, there was no dearth of eulogies for the government's success in reducing the prices of cereals, although it could be debated whether it was official effort or simply four consecutive bumper crops that did the magic. Let's, however, give the benefit of doubt to the government, which, in any case, is a strong votary of public welfare so far as the lower prices of the essentials are concerned.
Only the country's growing underclass, comprised of the victims of penury, the pensioners and low-wage earners make unwelcome noises over the tyranny of the market in its dealings with the consumers, who are virtually at the mercy of the traders. Understandably, this feeble group, with their equally feeble voice, is of no consequence -- notwithstanding the consumer-friendly commerce minister's intervention from time to time.
He blew hot and cold with the business community, but with no success. But his words were music to the ears of poor consumers when he said that the traders had made enough profit in the past, that they should provide some succour also to the poor, and that their well being depended on that of the poor. Blah, blah, blah. Apparently, it cut no ice with the traders.
In hindsight, the price hike to the present level is a legacy of the BNP-Jamaat regime. Then, on the excuse of price rise in the international market, the prices shot up also in the domestic market under the patronage of the regime -- reaching an all time high. Ignoring, all canons of economy and the dynamics of the market forces in either direction it attained the level it had already reached. The AL could successfully manipulate this price index in its favour to win the last election, but has failed to address the problem with similar enthusiasm or sense of urgency. The public and its well being is left to the caprice of the market.
The opposition talked about price fixing of essential commodities by officially favoured syndicates during the same regime to whip up public sentiment against the government. Now, how can the phenomenon be explained when the market is flooded with vegetables, which are being sold at sky rocketing prices? The rule of demand and supply hardly applies here.
From one market to another in the city, and from one corner of the country to another, what has been found to be sacrosanct is the price arbitrarily demanded by the trader. How does it work and who really fixes the price is a mystery.
Also mysterious are the prices of the finished items produced domestically when the prices of basic ingredients like rice and flour have indeed fallen. Look at the highly exorbitant prices of puffed rice and bread -- items extensively used for breakfast by the poor and the middle class respectively. There is no justification for the high price of bread particularly, and the consumers seem to be powerless in the hands of the traders dealing in it. The price has no rationality whatsoever. Yet, one has to succumb to its tyranny.
There were promises galore with regard to bringing down of the prices of all essentials items -- not just cereals. The power wielders seem to have changed their priorities. They now debate in the parliament the power of its members vis-a-vis upazila chairmen. The ministers squabble over luxury cars. They are also engrossed in the higher politics of constitutional amendments. Well, this is their prerogative. But the chariot, riding on which they came to enjoy the prerogatives, is "public" -- which is altogether forgotten. Also forgotten are their sufferings where the shoe pinches them.
The public has enough gumption to differentiate between a positive gesture with regard to its problems and mere cold-shouldering. The market is in dire need of control and monitoring, but non-intervention by the government is conspicuous, and that is where the commerce minister left it months ago after his last brush with the traders.
A silver lining can, however, be seen, with none other than the finance minister intervening in a stale market situation. He recently talked of involving the Trading Corporation of Bangladesh (TCB) for importing six essential items with a view to stockpiling them for the coming Ramadhan, and foisting a competitor for the private traders. Even if it eases the situation, it will not end the AL's woes.
Coming close on the heels of a chaotic market, which still does not provide essentials at affordable prices, the internal order continues to be worrisome. A vernacular daily reported on May 20 that there were 38 murders in 19 days in the capital alone. With two murders a day and a recalcitrant market, apart from myriad other crimes and militants' activity, the AL government is far from being stable. However, given its strength in the parliament, it can in no way be under threat of being dislodged -- but it does remain vulnerable to double whammy.
For all latest news, follow The Daily Star's Google News channel.
Comments