By: Prof. Pradeep Mathur
NEW DELHI: As I entered my office on an early winter morning in came the shocking news of Prime Minister Indira Gandhi’s brutal murder. We quickly settled down to bringing out a one-page supplement of The Pioneer, the newspaper whose Resident Editor I was.But before we could release the supplement the horror stories of anti-Sikh riots started pouring in from many places. The next few days were a real nightmare as we were torn in between publishing tributes to Mrs. Gandhi, preparations for her funeral, the unfortunate killing of innocent members of the Sikh community and an atmosphere of gloom and political uncertainty. The scene was shockingly unfortunate and depressing all around.
But it was not so for everyone. The Pioneer’s Additional General Manager, Mr P.K. Rastogi, told me that his sons had earned more than Rs. 50,000 (a sizeable amount of money in 1984) by buying and then selling the shares whose prices dropped to rise within a week . I am sure many others must have made good money like wise.
And for the first time I realized that any calamity, natural or man- made, can be converted into a lucrative money-making opportunity by those whose job is to make money at all costs in all situations . This was something which I was to notice again and again when violent demonstrations, communal conflicts, big accidents, floods, earthquakes and other such factors threw the normal life off track in the country.
Unfortunately we are undergoing a similar experience when the country is now faced with the existential threat posed by COVID 19. Many big and small traders and shopkeepers are using it as an opportunity to make money and maximize their profits. Prices of essential safety items like sanitizers, detergents and masks have gone up. Medical stores say the items are out of stock because of heavy demand but sell these items in black on double or more than double the price. With total lockdown same is going to be the case with essential commodities of daily use. Vegetable and fruit prices are showing a steep rise in their prices and other food items have already started showing this trend.
And as always the poor and marginalized sections of our society are going to be the worst sufferers of this phenomenon. On one hand COVID 19 lockdown has rendered them jobless and whatever little savings they have will be eaten away by these Shylocks of the business world.Uprooted from cities because of loss of employment and on way to their village homes many such people are also going to be fleeced by unauthorised private transporters. We know by experience that this loot will not end till the governments at the Centre and in the states take recourse to stern administrative measures. Only threat of heavy penalty, seizure of business premises and arrest of guilty shop-keepers and suppliers will maintain the price line and ensureadequate supplies of essential items to people in this hour of grave crisis.
I afraid the government is moving at a rather slow pace in the matter. Perhaps those who are in authority think that they have the Essential Commodities Act in their hands to discipline greedy businessmen. But they are wrong.This legal provision has been there since long but has hardly been able to curb the black market in times of shortages.
Can we expect our trading community to rise above their greed in this present crisis and do their business in a spirit of public service as is done in many other societies in the world? I have my doubts. If this grave crisis makes our money-at-any-cost trading community sensitive to the plight of the poor and marginalized sections of society then it will be a miracle of the mysterious virus.
(The author, a veteran journalist and a former Professor at IIMC, New Delhi, is editor of Media map, a monthly thought journal on current affairs & Sr. Consulting Editor-ICN Group)
