Introduction: Price-hike is one of the greatest problems in Bangladesh. Nowadays, it is a common phenomenon in Bangladesh. The problem is getting worse day by day. Price-hike or rising prices of essential commodities is the most talked issue in Bangladesh.
What is Price-hike: Price-hike means high price of essential commodities. When the price of essential commodities rises abnormally and goes beyond the purchasing capacity of the common people, it is called Price-hike.
Fields of price-hike: The main field where price-hike has been the severest is food. In this field, price has risen more than 70% within the last one year Besides, prices have recorded and abnormal rise in cloth, fuel, oil and almost all other essential items.
Causes of price-hike: There are many causes of price-hike. These are discussed below:
Natural calamities: Bangladesh is very prone to natural calamities. The recurrence of floods, cyclones, tidal bores droughts, etc. has inflicted a terrible blow on food production. This has led to an increase in prices of food grains as well as other daily necessaries.
Hoarding: The middlemen take every advantage to manipulate the supply of commodities and hoard to make a huge profit. So the price of a commodity has risen and it never comes down.
Smuggling and black marketing: Some dishonest people smuggle food and other essential commodities across the border. On the other hand, a section of people adopted black-marketing as a profitable business. These cause a decrease in the supply of commodities in the market and raise prices.
Another reason: There are also many reasons of price hike. Market syndicate, increasing population, political instability, lack of proper management are another reasons of price hike.
Effects of price-hike: Price-hike has created a deplorable condition in our society. Lives of general public have been posed to a great threat. Prices of essential commodities have gone beyond the capacity of the poor and the fixed income people. They are now helpless in the question of survival. More or less, almost people of all classes are suffering from the problem of price-hike.
Ways to prevent price-hike: Price-hike is such a problem which cannot be solved overnight. The government should take immediate and long term drastic steps to reduce price-hike. Any syndicate activity is to be suppressed boldly. The government should also take every step to increase agriculture production as well as check population growth. At the same time, all possible steps to check climate change should be taken.
Conclusion: Price-hike is a common affair in Bangladesh. As whole prices of essential commodities should be brought down by any means otherwise the sufferings of the people can not be removed. So it is imperative for us to control the prices of essential commodities.