Food price inflation increased to more than 6% in January due to disruption caused by blockades and political unrest.
While this impacts on everyone, poorer citizens are suffering the most.
Not only are they hit by higher prices for essentials at a time when consumers should be benefiting from the great strides which farmers have been making in improving production, many poorer workers are also having their incomes hit as day jobs dry up and businesses are shut down.
Politicians have to overcome the intransigence that is prolonging the national crisis and causing more lives to be lost.
It is in both their own and the national interest to end the turmoil. As business leaders have been warning since the crisis began, the dispute is crippling the economy and harming future prospects.
We do not think political leaders should have to wait for protests and calls for action, such as the symbolic 15 minute national demonstration being planned by the FBCCI for February 8.
It has been apparent all along that the political turmoil would affect economic growth, and the World Bank has already downsized its projections for the current fiscal year.
Although the government has been making strenuous efforts to keep the delivery and supply chain open for the nation’s leading export industries, it is apparent from the concerns being expressed by major brands and buyers, that the only way to secure RMG growth and jobs is to bring stability.
No more time should be lost in ending this costly and deadly crisis.
