Businesses see political unrest hitting Bangladesh’s image

Businesses have told the government they fear the ongoing political unrest will harm Bangladesh’s prospects and global image.

They have sought state incentives to make up for the losses the ongoing violence has inflicted on the trade and commerce.
 
BGMEA chief Atiqul Islam said their capability to compete in the international market was going down with the fall of euro, rouble and the Canadian dollar.
 

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“Buyers are offering reduced prices for our goods and do not want to come to Bangladesh to place orders amid the violence,” he said during a meeting with AMA Muhith on Monday.

“We consider it to be a huge threat to the readymade garment sector,” he added.

The BNP-led alliance’s violent agitation since Jan 5 cost Bangladesh Tk 1.2 trillion, the prime minister told Parliament on Feb 25.

FBCCI chief Kazi Akram Uddin Ahmed, Exporter Association of Bangladesh President Abdus Salam Murshedy, MCCI President Syed Nasim Manzur, and representatives of the BTMEA, among others, attended the meeting.
 
Murshedy feared a decline in orders in the March-April.
 
“The buyers are trying to take advantage of the situation,” he said.
 
The former BGMEA chief wanted no default on repayment of export loans during political unrests and an extension of the short-term loan duration from six to 24 months, among other facilities. 
 
He said they were seeking the support because of the political instability. 
 
“The government can withdraw them once the situation becomes normal,” Murshedy said.
 
FBCCI President Ahmed said the facilities provided because of political unrest should be extended to all sectors.
 
Muhith described the situation “unexpected and unnatural” and assured the businessmen of discussing their demands with others.
 
“I’ve been thinking of an incentive to compensate for losses during the ongoing unrest,” he said. “It can be used whenever it is needed.”