Bangladesh, the eighth populous country of the world is fighting with growing prices of food items. Hundreds of people queued before the fixed rate food shop run by paramilitary forces in Dhaka because of rising food prices in retails shops.
Last week, the price of rice the basic food of Bangladesh had been sold at nearly 40 taka ($0.60) per kilogram (2.2 pounds) in retail markets but the troops are selling at food items at half price.
However, troops are running 40 shops in Dhaka but they are unable to reach the vast majority of Bangladesh’s lives in villages and town and suffering form repeated loss of crops due to floods and cyclones in the past year.
Despite being an agricultural country, Bangladesh is unable to feed its population. The major reasons behind this slow growth in economy are frequent cyclones and floods, inefficient state-owned enterprises, inadequate port facilities, delays in exploiting energy resources (natural gas), insufficient power supplies, and slow implementation of economic reforms. Economic reforms have been made several times but these reforms could not be implemented properly due to political infighting and corruption at all levels of government.
Dhaka government blames on high commodity and fuel prices in international market and partly dishonest traders and natural calamities is responsible for the rising prices of food items.
India is ray of hope for Bangladeshis. Indian government has lifted the ban on rice exports but it is exporting rice at $500 a ton, citing short supplies in domestic markets.
But now the Indian government has decided to export rice to Bangladesh at previous rate of $425 per ton. Besides seeking help from foreign countries, Dhaka government should also pursue policies for supporting and encouraging private investment and eliminating unproductive expenditures in the public sector. There is need to eliminate the sources which has blocked the progress of Bangladesh.

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