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Bracing for trying times

Whereas the unfettered operation of market forces is considered ideal in normal circumstances, this rule cannot be regarded as sacrosanct in stressful times and during periods of acute economic uncertainty. Our hope is that war would be averted in the Gulf but the State cannot take any chances on this score. This is the reason why the State considers it advisable to make a limited intervention in the economy in the event of a war in the Gulf and if economic chaos follows. Market conditions may need to be regulated to a degree.

Accordingly, we welcome the formulation of contingency plans to meet emergency situations which may come in the wake of war. Our unpleasant experience is that some wholesale and retail traders resort to exploitative practices during periods of internal strife, conflict and war. The charging of extortionate prices for essential commodities is one of these. The equally reprehensible practice of hoarding these commodities is another parasitical practice which is freely resorted to by errant traders. Against this plethora of oppressive ills, the Government needs to act decisively and we are glad that it is not shying away from this responsibility.

Whereas legislation is in the making to provide the Commerce Minister with special powers to curb the above blights, firm, punitive action is also being considered against exploitative interests which tend to make the most out of economic uncertainties. For instance, tough laws are being brought against hoarding.

It need hardly be said that this impressive array of contingency measures needs to be put into practice effectively, if the desired objective of ensuring the common man's economic sustenance is to be made a reality. It should not be a case of errant business proving resistant to State intervention.

A few days back it was reported that penalties were imposed by the courts on some traders who were selling underweight bread. This is proof that the authorities do not intend idling while errant traders flout the rules of fair trade. We hope these are not isolated instances of the State springing into action to safeguard the interests of consumers.

Meanwhile, the State is obliged to stock as many essential commodities as possible to ensure that it is not taken by surprise by war-time developments. There is no escaping the need to ensure that our larders are full. However, a spirit of austerity, which will be badly needed in the event of an outbreak of war, needs to take root in the Lankan consciousness. Going by past experience, we cannot be too optimistic on this score. While the poor and the needy would have no alternative but to bear any economic burdens in mute silence, the more privileged Lankans have a notoriety for high living and vain ostentation even in times of trouble. Politicians are usually berated for being unconscionably unmindful of the common man's woes but we feel that the same applies for very many who are labelled as the rich and the powerful.

This is a sore point among the people. We hope that weighty economic burdens will be shared evenly.

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