Staff Reporter:
Bangladesh Chamber of Industries (BCI) President Anwar-Ul-Alam Chowdhury (Parvez) on Saturday claimed that the business community has been frustrated over the activities of the interim government amid multiple challenges in industries of the country.
“We have been facing numerous challenges, including the shock of taka devaluation, rising energy costs, and high inflation as well as supply chain disruption for a long time. But we have not seen the government taking any business-friendly policy yet,” he said at a programme organised by the BCI at its office in Dhaka.
Anwar-Ul-Alam highlighted that the government should protect industries to create employment and boost the country’s economy as well as bring foreign direct investment (FDI). Besides, business people do not feel comfortable with the current situation of law and orders, he said.
“The FDI will not come into the country if local businesses do not feel comfortable doing business here. Three matters like proper energy supply, banking or financial sector, and human resources are crucial for the manufacturing sector. But we don’t get full support here.”
The BCI president said the interim government and political parties are focusing on other issues and as a result, businesspersons are facing a lot of challenges.
‘Defer LDC graduation by three years’
Anwar-Ul-Alam voiced concerns about the upcoming graduation from the least developed country (LDC) status, warning that it could further increase business costs and push many businesses into a state of existential crisis.
“The government should take steps to defer Bangladesh’s graduation from the LDC category by at least three years. Right now, we are not ready to graduate from LDC. We should give time here.”
He also informed that the Awami League government prepared false data of the country’s GDP (gross domestic product) over $450 billion in FY23, but actually it was only around $300 billion.
