• Friday, August 22, 2014

MCCI recommends weekend for big political gatherings

Star Business Report
Rokia Afzal Rahman, president of the Metropolitan Chamber of Commerce and Industry, leads a delegation of the chamber's newly elected office bearers to meet Finance Minister AMA Muhith at his office in Dhaka yesterday. Photo: MCCI
Rokia Afzal Rahman, president of the Metropolitan Chamber of Commerce and Industry, leads a delegation of the chamber's newly elected office bearers to meet Finance Minister AMA Muhith at his office in Dhaka yesterday. Photo: MCCI

The Metropolitan Chamber of Commerce and Industry yesterday urged the government to allow large political gatherings only 'during the weekend' in a bid to ensure smooth traffic.
In large neighbouring cities like Kolkata, political programmes that call for large gatherings, can only be held on the weekend, MCCI said in a statement.
“The government may think about introducing such a regulation in order to keep public life and the flow of business undisrupted,” it said.
The statement came as MCCI President Rokia Afzal Rahman led a delegation to a meeting with Finance Minister AMA Muhith at the minister's office in Dhaka.
The chamber also urged the government to keep its borrowing from the banks to a minimum and within the projected amount in the budget.
It could result in crowding out private-sector credit growth and cause liquidity problems for banks and financial institutions if actual borrowing exceeds targets, according to the statement.
The chamber also urged the government to maintain a balanced monetary policy with room for special provisions for the productive sectors.


“Such an accommodative monetary policy will make credit readily available for the private sector, boost production in the fields and factories and bring prices down.”
MCCI also said governance in the banking sector and capital markets must be improved; recent frauds at the state banks have seriously damaged investors' confidence and depleted resources of the once strong banks.
The chamber also called upon the government to make adequate rules for public-private partnership projects without delay so that it attracts private investment from domestic and local sources.
MCCI suggested the government take immediate steps to rebuild the country's image that has been tarnished by political unrest in the last six months.
The government must make a comprehensive effort in image building by sending abroad delegates comprising officials from the foreign and commerce ministries and Board of Investment, said M Anis Ud Dowla, an ex-president of MCCI.
The trade body also called upon the government to introduce an expressway on the Dhaka-Chittagong route immediately to improve communication between the two cities, according to the statement.
At the meeting, Muhith said the government will take appropriate steps if any good proposal regarding the expressway comes from the private sector.  The chamber also advised the government to revise the weekly workdays from the existing Sunday-Thursday to Monday-Friday in order to keep pace with international markets.

Published: 12:00 am Thursday, January 23, 2014

Last modified: 12:12 am Friday, January 24, 2014

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