Home ›› 08 Dec 2022 ›› Editorial
Bangladesh has gained world fame due to various reasons. But the country, which was full of crops and greenery is gradually losing out on that front.
Most people have a tendency to get rich in a short time by any means. The village bungalows wrapped in green grass used to smile at us, but now they cannot give joy to the rural people. Today's public life is full of sorrow and lamentation for various reasons. People are under the pressure of rising commodity prices. Prices of rice, pulses, fish, meat, oil, pastries, fruits, sugar, salt, wheat, flour, bread, biscuits, etc. have increased several times compared to earlier. As a result, common people, especially hardworking people, have become depressed. Common people have to suffer a lot because of unscrupulous businesspersons.
In a free country, the unsustainable condition of commodity prices is like a thunderbolt for the poor. Various traders are increasing daily necessities' prices by forming syndicates. The government should come down hard on these greedy and dishonest businessmen. Arrangements should be made to set up commodity price monitoring committees in all markets, hang the price list of daily necessities in the market, and monitor whether the products are being sold at a fixed price. The goodwill of the government and businessmen can play a significant role in ensuring that the country's common people live a little better by preventing the rise in the prices of daily necessities.
Income is not increasing compared to how the expenditure of low-income people is increasing. As a result, they are struggling to meet the cost of living. Rice and other essentials are required for all people. One-third of the living expenses are spending to buy rice and others. Such people are in more crises if the price of rice increases. Then they cut down on nutritious foods on their menu like fish and meat and increased their dependence on vegetables. A study by the Bangladesh Institute of Development Research (BIDS) has revealed the scenario. In this research report, based on the 2018 Khana Income-Expenditure Survey data, an attempt has been made to highlight the food consumption patterns of people, where 132 food products are divided through 9 sectors. Data from 12,000 families of that survey has been taken to prepare the report. Poor people spend 29 per cent of their total expenditure on rice. However, 21 per cent of the total national price of food is spent on rice. And non-poor households spend two percent of their cost on rice. Rural people spend more on rice than urban people. Urban people spend 19 percent of their expenditure on rice, while rural people spend 23 percent.
Meanwhile, after pulse, rice, and flour, the price of salt has increased. Standard iodized salt is now selling at Tk 35-40 per kg. People had to pay 35-38 taka to buy the same amount a few days ago. Grocers say dealers have reduced supplies. Also, there are rumors of price hikes. As a result, buyers are buying and storing salt in fear of supply shortage. According to dealers, companies are not able to supply enough. The salt refining mill owners say that the company has not decided to increase the price. They don't know the reason for the price increase in the retail level. In this way, the price of dairy products is increasing every day.
We believe that the support required by the government for low-income people has been little in this situation. While the government could not provide much cash assistance, it could provide some relief to the commoner by regulating the market and not increasing the prices of the service sector such as water, gas, and electricity. But the price of gas, electricity, and water has increased. The government has sold some products including pulses, oil, and sugar in the open market at relatively low prices through TCB, but the amount is so small that it has not had any impact on the market. To deal with the situation, sales of products should be increased across the country through TCB. Also, market supervision should be strengthened, so that no syndicate can create an artificial crisis and increase the prices of commodities at abnormal rates. The government should not only think about the high-ranking people, it is also essential to look at how the common people will get the current low-price market and how quickly they can be given some relief.
We must realize the reality of war and the rising dollar and oil prices in the world market. The government provides some essential affordable products through TCB cards to needy poor people. But the lower middle class, middle class, government employees, and pensioners remain out of its scope. It is important at this time to provide daily commodities at fair prices by TCB to pensioners, especially 2nd, 3rd, and 4th class government employees. They are seeking Prime Minister's vision to increase their dearness allowance and medical allowance without delay.
The country's people are now reeling under the impact of rising commodity prices. Not only the daily necessities but also the prices of medicines have increased without limit. For example, in one family, husband and wife used to spend taka 10,000 on medicines. Currently, the cost has risen to Tk 15000. Although the government has fixed the prices of some drugs, it is not being implemented at the retail level. Drug companies keep raising prices on various pretexts. Imported drugs are selling wildly on the global market under the pretext of the dollar, rising oil prices, and the Russia-Ukraine war. Unable to afford the high cost, many people stop taking medicine. According to experts, if people stop consuming nutrient-rich foods and medicines to prevent disease, there is a risk of long-term physical complications; which will have a far-reaching impact on the country's public health management.
Elderly people are spending the day in the midst of the most suffering due to the price hike. They are malnourished without being able to buy nutritious food at a high cost. On the other hand, due to the increase in the price of medicines, they are also in the midst of health risks. With increasing age, various diseases take root in their body. In the midst of this helplessness society and the state come forward. Seniors are experienced and knowledgeable resources of the country and society. It is not desirable to let them suffocate and die of neglect. Public representatives should come forward actively to take care of the elderly in every area.
A laudable initiative by the government for those who have surrendered their 100% pension, is the restoration of pension after 15 years. But very few pensioners survive for 15 years. Therefore, to make this initiative fruitful, restoring the pension for 8 years instead of 15 years should be considered. It is necessary to create recreational opportunities for pensioners by providing annual retirement entertainment allowance. The state and society can set a groundbreaking example by providing fare-free travel in all vehicles to the country's senior citizens.
Another reason for the increase in the price of goods is the additional taxation by the government. Heavy taxes were imposed on imported and domestically produced goods to alleviate the financial crisis of the Third World. Apart from this, due to the increase in duty, the price of goods also increases. Negligence and failure of the government in market regulation and supervision are significant reasons for the rise in commodity prices. As a result, it affects the cost of the product. In poor and developing countries like ours, additional taxation puts more pressure on commodity prices, resulting in price increases.
The Covid-19 pandemic will continue to disrupt the supply chain for some time, and thus, prices will likely continue to rise in the international market. So, there is bound to be high inflation. But instead of increasing prices, the government should consider other means of cost reduction. Governments can consider reducing spending by protecting excess money spent due to systemic failures, corruption, and inefficiency, creating accountability, scrapping or postponing unnecessary development projects, etc.
No matter what the government does, there is no solution to putting the burden on the people. The pandemic has already caused immense suffering and hardship, pushing a large section below the poverty line. Unemployment has reached alarming levels. People are also struggling to cope with the pressure of rising costs in the healthcare sector. Another round of price hikes will make it difficult for them to handle the pressure.
The writer is a researcher and columnist. He can be contacted at hiren.bnnrc@gmail.com
