Price Hike in Bangladesh-Composition JSC-SSC-HSC
Price Hike in Bangladesh
Introduction: Price hike means the unusual increase in the prices of daily necessaries. Nowadays, it is a common phenomenon in Bangladesh. The problem is getting worse day by day. The prices of all commodities have gone beyond the reach of the mass people over the whole country.
Causes of price-hike: There are a number of causes of price-hike in Bangladesh. Market syndicate is mostly responsible for the price-hike in Bangladesh. Besides,. Some dishonest people store essential commodities with a view to making huge profit. This causes a sharp decrease in the supply of commodities in the market and as a result prices are increased. One of the factors which cause price-hike is less agricultural production due to natural disasters. For example, as a result of consequent floods and devastating cyclones, Bangladesh very often undergoes a severe food crisis. Other causes may be mentioned as lack of raw-materials, want of speedy communication, political instabilities increase of prices in the international market, money inflation in national level etc.
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 pool 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: To prevent price-hike, any syndicate activities are to be suppressed boldly and inflation of money should be controlled. The Government should also emphasize on the increase of production by applying scientific agricultural methods. Agricultural sector should be given priority in the annual budget. At the same time. Public awareness should also be raised against price-hike. Therefore, we need to take all-out efforts to come out of these serious crises.
Conclusion: Price-hike is such a problem which cannot be solved overnight. The Government should take both immediate and long term drastic steps to reduce price-hike.
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