Tuesday, October 14, 2025

Economy bearing the brunt of political turmoil: Businesses

Trade bodies urge political parties to shun violence
The business community on Sunday urged both the Awami League and the BNP to refrain from acts of violence in the greater interest of the country.
“No one has the right to destroy the industry,” said FBCCI president Kazi Akram Uddin Ahmed said at a press conference after a meeting of various chambers of commerce and business associations in the capital.
The meeting was held on the country’s ongoing political situation that is taking a heavy toll on the overall economy.
The president of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) also said that a conspiracy was on to destroy the country’s trade and industry.
“We cannot sit idle when the industries are being destroyed. The business community will resist any ploy to destabilise the economy,” he declared.
The FBCCI president also said the business community needs a level playing field so that it can conduct business smoothly. “Give us space and a level playing field. We’ll show you how we can take the country forward (in the field of economic development).”
Business leaders at the briefing also made a fervent appeal to both the AL and opposition BNP to end the ongoing political hostilities and save the country’s apparel sector from ruin.
The captains of commerce and industry also urged the government to bring to book those responsible for the Standard Group fire incident within seven days.
“Stop political violence immediately,” demanded Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Atiqul Islam.
Atiqul Islam urged leaders of the two major political parties to end violence. “We urge the leaders (Hasina and Khaleda) to stop political violence. The RMG sector cannot be the victim of your politics. We want security and to conduct business smoothly,” he added.
“We want unhindered business, free flow of goods on the Dhaka-Chittagong Highway and smooth functioning of supply chains,” said the BGMEA president, expressing grave concern over the growing political unrest, which is adversely affecting trade and commerce.
Speakers at the conference demanded that the arsonists who torched six units of the Standard Group in Gazipur be arrested within seven days. They urged the government and financial institutions concerned to find out ways and means to rehabilitate the industry. Some workers of the Standard Group, along with some non-workers, stormed and torched the company’s three multi-storied buildings on November 28. Property worth some Tk. 12 billion was destroyed in the blaze that continued for about 17 hours.
Because of political unrest and a series of accidents, the BGMEA president said, the industry is passing through a crucial period. “The industry is incurring losses to the tune of Tk. 250 crore every day because of the political violence and unrest,” alleged the BGMEA president, adding that they will re-convene on Monday to find out ways to overcome the crisis.
Held at BGMEA Bhaban, the conference was also attended by International Chamber of Commerce (ICC) president Mahbubur Rahman, Dhaka Chamber of Commerce and Industry (DCCI) president Sabur Khan, Bangladesh Textile Mills Association (BTMA) president Jahangir Alameen, former BGMEA vice president Anisur Rahman Sinha and former BGMEA president Salam Murshedy.
“We are losing many buyers as they are reluctant to come to us because of the persisting violence,” stated a BGMEA leader. “Buyers from across the world come to Bangladesh to visit our garment industries, negotiate and strike deals. But their embassies are asking them not to come amidst the ongoing violence,” he added in order to explain the gravity of the situation.

-With The Independent input

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