People cornered by rising commodity prices

People cornered by rising commodity prices

Inflation has become an ever-looming specter haunting the daily lives of ordinary citizens, casting a shadow of uncertainty over their financial well-being. Despite concerted efforts, controlling inflation seems like grasping at straws, as prices of essential commodities continue to soar, placing an unbearable burden on the shoulders of the common people.

Finance Minister Abul Hassan Mahmood Ali's acknowledgment of inflation as a formidable challenge in the upcoming fiscal year's budget is a stark reminder of the pressing need for effective measures to alleviate the plight of citizens grappling with rising prices. It is heartening to learn that the government is gearing up to unveil a budgetary strategy aimed at curbing inflation and ensuring that consumer goods remain within reach of the average citizen.

One key aspect of the proposed strategy involves bolstering food security, recognizing the fundamental role that food prices play in shaping overall inflationary trends. By strengthening food security measures, the government aims to stabilize prices and mitigate the adverse impact of inflation on households, particularly those belonging to low and middle-income brackets.

However, it is imperative to underscore the importance of a multi-faceted approach to tackling inflation. While measures to enhance food security are undoubtedly crucial, they must be complemented by broader initiatives addressing structural issues contributing to inflationary pressures. This entails fostering a conducive environment for investment, promoting competition, and enhancing productivity across key sectors of the economy.

Furthermore, the Finance Minister's emphasis on the need for a cost-effective budget underscores the pragmatic approach required to navigate the current economic landscape. With limited scope for increasing government expenditure, fiscal prudence becomes paramount. This necessitates a judicious allocation of resources, prioritizing initiatives that yield the greatest impact in terms of inflation control and economic stability.

As we stand at the cusp of a new fiscal year, the government's commitment to devising a budgetary framework geared towards addressing inflation is commendable. However, mere rhetoric must be translated into concrete action, with tangible measures implemented to ease the burden on consumers and foster sustainable economic growth.

In conclusion, the battle against inflation demands a concerted effort involving proactive policy interventions, prudent fiscal management, and unwavering commitment from all stakeholders. Only through collective action can we hope to alleviate the suffering of the common people and pave the way for a more prosperous and equitable future.

Mostafizur Rahman,
Publisher and Editor- projonmokantho