Price Hike Essay for all Classes Students
Essay on Price Hike in Bangladesh
Introduction:
Price hike means to increase suddenly the price of necessary commodities. Today it is a common phenomenon in the countries of the third world like Bangladesh, and India. The price of essential commodities is increasing so leaps and bounds that it goes beyond the control of man. People of low income can not match their income and expenditure.
Price increased items:
Sales of certain essentials including sugar, powdered milk, pulses lentils, onion, potato, garlic, ginger, green and dry chillies have been going up in recent days as their prices have increased significantly within a short time.
Reason to increase :
Shortage of supply due to low production also accelerates the price-hike of essential goods. Our population is increasing in geometrical progress, while the supply of food increases in arithmetical progress. For this the supply of goods is very scanty in comparison to our demands.
Result:
Because of price hikes people are to suffer a lot. As prices of essential commodities are on the rise, low and fixed-income group people are being forced to buy or consume less than what they usually do.
Opinion of Govt :
The Government blames the spike largely on high commodity and fuel prices in international markets and partly on dishonest traders and natural calamities.
Solution:
However, efforts should be made and necessary actions should be taken against the persons who are associated with price hike. Hoarding should be controlled. Smuggling and black-marketing are to be eradicated. An adequate supply of essential commodities needs to be ensured.
Conclusion:
As price hike is a great problem for the people of 3rd world countries like ours, we should try to solve it. We should not impose everything on the government only. The concerned as well as the civil society should come forward to solve the problem.
Essay on Price Hike in Bangladesh
Price hike, or the sudden increase in the price of essential commodities, has become a major concern in Bangladesh. This phenomenon is particularly prevalent in third-world countries like ours, where the prices of necessary goods are skyrocketing, making it increasingly difficult for people with low incomes to afford their basic needs. This essay delves into the causes and consequences of price hike in Bangladesh and discusses potential solutions to this pressing issue.
One of the primary reasons for the price hike is the shortage of supply due to low production. Bangladesh's population is growing at a rapid pace, while the production of essential commodities is unable to keep up with the increasing demands. As a result, the supply of goods remains scarce in comparison to the population's needs, leading to higher prices. The scarcity further exacerbates the problem, making it challenging for individuals, especially those with lower incomes, to purchase essential items such as sugar, powdered milk, pulses, onions, potatoes, and spices.
The consequences of price hike are far-reaching and affect people from all walks of life. As the prices of essential commodities continue to rise, individuals with limited and fixed incomes are compelled to reduce their consumption or buy cheaper alternatives. This leads to a decline in their overall standard of living, as they are forced to compromise on the quality and quantity of goods they can afford. The burden of price hike is particularly heavy on vulnerable groups, such as low-income families, who struggle to meet their basic needs amidst rising costs.
The government acknowledges the challenges posed by price hike and attributes the spike in prices to high commodity and fuel prices in international markets, as well as unscrupulous traders and natural disasters. While these factors do contribute to the problem, the government must take proactive measures to mitigate the impact on the general public. Efforts should be made to curb hoarding, smuggling, and black-marketing, which further drive up prices. Additionally, the government should focus on increasing the production and supply of essential commodities, ensuring their adequate availability and affordability to the public.
To address the issue of price hike effectively, it is not solely the responsibility of the government. All stakeholders, including the civil society, must come together to find sustainable solutions. Public awareness campaigns can educate citizens about their rights and encourage them to report instances of price manipulation. Consumer protection laws should be strengthened to prevent unfair practices in the market. Moreover, initiatives that promote local production and reduce dependency on imports can help stabilize prices and boost the availability of essential goods.
In conclusion, price hike in Bangladesh poses significant challenges to the general public, especially those with low incomes. The shortage of supply and the increasing demands of a growing population contribute to rising prices of essential commodities. The consequences of price hike are severe, impacting people's standard of living and exacerbating poverty. Therefore, it is crucial for the government, along with the active participation of civil society, to take necessary actions. By curbing hoarding, addressing unfair market practices, and increasing the production and availability of essential goods, we can alleviate the burden of price hike and ensure a better quality of life for all citizens of Bangladesh.
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