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Md
Aminul Islam: Tensions in the Middle East escalated rapidly after
the United States and Israel launched a joint attack on Iran on 28 February.
The conflict has surpassed its 40th day following Iran’s retaliatory strikes.
On 8 April, the US and Iran agreed to a two-week ceasefire.There is scepticism among the general public about
whether this ceasefire will hold at all, as previous ceasefire agreements
between Israel and Palestine have collapsed. Israel has continued its attacks
in Palestine even during ceasefires. Consequently, the impact of this prolonged conflict
between the US and Iran has become evident not only regionally but also in the
global economy.Iran’s influence over the Strait of Hormuz has
created significant uncertainty regarding energy supplies. Limited oil and gas
exports in the global market have driven up fuel prices, directly affecting
Bangladesh. Rising costs for LNG, petrol, diesel, and octane are already
straining the country's industries, transport sectors, and overall economy.This reality makes daily life increasingly difficult
for the general public. Spiralling prices of essential goods, rising transport
costs, and expensive education and healthcare have created widespread public
distress. In such a situation, government initiatives alone are insufficient;
businesses and service providers must also play a responsible role.Current crises demand a policy of "low profit,
high relief." When market purchasing power declines, seeking excessive
profits harms businesses in the long run. Instead, adopting a tolerant pricing
policy builds customer trust and restores market stability.Firstly, mobile operators and internet service
providers should reduce service costs to a tolerable level. In the digital age,
the internet is a basic necessity rather than a luxury. Similarly, schools and
colleges could provide relief to families by temporarily reducing admission and
tuition fees or offering instalment options.The healthcare sector also requires a humanitarian
approach. Doctor consultation fees and hospital diagnostic costs are becoming
unaffordable for many. Reducing fees or introducing special discounts for the
poor during this crisis would be a timely move.The government can also take coordinated steps.
Prime Minister Tarique Rahman could meet with top business leaders to reach an
agreement on keeping commodity prices within the reach of the common people.Additionally, authorities can build an effective
coordination framework by involving representatives from business associations.
Forming a monitoring cell to oversee market conditions could also prove
effective.Furthermore, the government could encourage
businesses to supply goods at lower prices by temporarily reducing taxes on
primary production. They could extend these benefits based on the evolving
situation.The legal and judicial systems require similar
empathy. The cost of filing cases or seeking legal aid often hinders the
general public. If lawyers show flexibility during this period, it will ease
the path to justice.Moreover, adopting moderate policies regarding
public transport fares, online delivery charges, and service fees in the
banking and insurance sectors will bring overall relief to public life. If
every sector offers even a small concession, the collective impact will be
significant.Most importantly, we should not view these
initiatives as charity. Rather, they represent responsible and sustainable
economic behaviour. Those who stand by the people during a crisis earn public
trust for the future.Therefore, given the current global and local
realities, businesses and service providers should step forward to ease human
suffering by temporarily reducing profits. Only a collective effort can restore
social stability and comfort amid such economic pressure.
Writer:
Md Aminul Islam is a journalist at the Daily Sun. He can be reached at
amincu95@gmail.com