Abolish futures trading to check prise rise, demands Karat

GUWAHATI - The Communist Party of India-Marxist (CPI-M) Sunday urged the central government to immediately abolish futures trading of essentials, citing hoarding of food grain by multinational companies for such business as one of the major reasons for spiralling prices.

“There are many steps which we suggested to curb price rise. If the government takes those steps like banning futures (forward) trade in essential commodities, things would stabilize. Otherwise multinational companies and big business houses would continue to exploit the situation,” CPI-M general secretary Prakash Karat said while addressing a party rally here.

“Price rise is an issue that we cannot allow to continue and, hence, all the Left parties would launch an agitation in March,” Karat said.

Criticising the statehood demands raised in many parts of the country, he said: “We don’t want fragmentation of states as it would be detrimental to the interests of the country. We want a strong federal system where states become strong.”

About Maoists threats, he said the Maoists are playing into the hands of the state governments by trying to target the Marxists. “We are taking a pledge not to bow down to their threats.”

The Left leader also called for unconditional peace talks between the outlawed United Liberation Front of Asom (ULFA) and the government.

“Let the government take the initiative and begin peace talks. There should be no preconditions from either side,” he said.