Price hike

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 Price Hike Paragraph in 200 Words

Price hike means an increase in the price of daily goods, services, and commodities. Price hike is a common problem in Bangladesh. Price hike creates problems for poor and middle-class families.


Natural disasters like floods and cyclones damage crops and increase the price of daily commodities. High production costs, for example, electricity and raw materials, increase the cost of goods.


Dishonest Businessmen hoard goods to create an artificial shortage of products to cause price hikes.


The government is trying to control the price hikes by setting price limits for essential goods and increasing market monitoring. The government should punish the illegal hoarders.


Businessmen should maintain fair pricing and stop illegal hoarding. People should avoid panic buying by hearing rumours of product shortages.


People should report dishonest businessmen and buy local products to reduce imports.


Price hike is a serious issue in Bangladesh that affects everyone. The government, businessmen, and common people must work together to control the price hike.


Price Hike in Bangladesh Paragraph in 450 Words

What is Price Hike

Price hike refers to the increase of the price of daily commodities, goods and services. In Bangladesh price hike is a very common issue which affect the price of foods, cloths, transport and services. Price hike is a major problem for the poor and middle-class people of Bangladesh.

Causes of Price Hike:

Natural Disaster: Floods and Cyclones is a very common phenomenon in our country. Every year there is flood especially in the North Bengal region. Due to Floods and Cyclones crops get damage and the price of the food increases.

High Production Cost: Expensive raw materials and electricity increases the price of the goods.

Import Dependency: Most of the electronic products that we are using are imported from other countries. We are lack behind in technology to make technological products like mobile and computer.

Low Food Production: We need to import rice and edible soyabean oil from other countries to meet the demand of our country every year. Sometimes the import cost is higher than regular time and it also impacts the price of rice and soyabean in our country.

Rising Fuel Prices: We import fuel and gas from other countries. High fuel and gas price increase the transport and production cost of the goods.

Dishonest Business Practice: There is an ill business syndicate in our country who hoard the daily commodities to create artificial shortage and to increase the price.


Government Actions to Control Price Hike:

The government must set price limits of the most essential daily commodities like rice, edible oils and vegetables. The government must provide subsidies to farmers to lower the production cost. The government must increase the market monitoring system to reduce the unfair practice of the businessmen.

Steps Government Should Take:

The government must reduce taxes on imported daily commodity goods to make them cheaper. They government must help and promote local production to reduce the reliability on imported goods. The government must offer low interest loan to the local small businesses to help them supply goods to the market at a cheap price. The government must punish the illegal goods hoarder with high fines and penalties. Currently the fines and penalties are very low. The government must reserve the daily commodities to handle shortage during emergency crisis like floods and cyclones.

Role of Businessmen:

The businessmen should follow the government rules and maintain a fair pricing of the goods. The businessmen should stop illegal hoarding to create artificial shortage of the goods.

Role of Common People:

Stop Panic Buying: The common people sometimes panicked by rumours and buy products. The common people must not pay heed to the rumours and avoid buying panic products to prevent product shortage.

Report Dishonest Trader: The common people should report the dishonest traders to the government authorities.

Buy Local Products: The common people must buy local products to support the local businessmen and it will reduce the expensive imports of unnecessary goods.

Conclusion

Price hike is a serious issue in Bangladesh that affects everyone especially the poor and the middle-class families. The government, businessmen and common people must work together to control the price hike in Bangladesh.


Happy learning 


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