Desk Report: The disruptions caused by the ongoing student movement is not only affecting the country’s economy but also hurting the Bangladesh brand and long-term investment outlook, business leaders said on Monday.
They also urged the government to resolve the ongoing deadlock immediately for the greater interest of the country’s economy. Expressive grave concern over the ongoing crisis, leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) made the call at a press conference at its headquarters in the city. Addressing the press conference, BGMEA President Md Siddiqur Rahman said, “As a trade body, we never support any activities that affect the trade and commerce.” “We have noticed that the students have already returned to classrooms, but normalcy did not return in the transportation sector. There is not sufficient number of vehicles in the highways, causing immense sufferings to all,” he said. Siddiqur urged the government to take necessary measures to make the roads safer through proper implementation of laws and regulations. He also called upon the students to refrain from staging demonstrations that hurts the investment outlook, hinders economic development and tarnishes the country’s image abroad.
“Over the last few days, many foreign buyers cancelled their visit to Bangladesh, which will cause huge financial losses for the RMG sector as it is the peak period for the industry for settlement of next year’s export orders,” the BGMEA President said.
At a press conference on Sunday, Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) called upon the agitating students to return to their homes. FBCCI also urged the transport workers not to engage in activities that cause unrest.
Speaking to the daily sun on Monday, FBCCI President Md Shafiul Islam Mohiuddin said, “The country will face a loss of Tk 300 crore in a day during a strike.”
He also said if the current situation continues the country’s economy will be affected adversely, which might shoot up inflation and the SME entrepreneurs will be the worst sufferers.
Paying the salaries and bonuses to the garment workers ahead of Eid will also be difficult due to the impact of the current situation, he added.
He also called upon for a tripartite discussion between protestors, government and transport-owner to make an immediate solution to the ongoing crisis.
“The foreign buyers have always expressed concerned over the impasse in the transport sector. This will affect the confidence and trust of foreign buyers and investors, causing long-term effects on the country’s trade, commerce and investment,” the FBCCI President further said.
Contacted, research director of the Centre for Policy Dialogue (CPD) Dr Khondaker Golam Moazzem, however, said “The students are in a logical movement, and it will not be a right attitude to relate the movement with any financial losses.”
“But the continuation of such kind of activities creates instability for the country’s businesses and causing losses for the businessmen,” he said, adding that all the all the stakeholders, as well as the government, have to come forward to make a sensible solution to the crisis.