Business leader demands stable political environment

Politicians must find a quick solution to the current stalemate to prevent the economy from sliding into chaos and ensure a congenial environment for businesses, a top business leader said.
“If the current political impasse lingers, the economy will have to pay a heavy price. Therefore, we must find a solution as quickly as possible,” said Mahbubur Rahman, president of Intern-ational Chamber of Commerce, Bangladesh (ICCB).
He said the roads are not safe; trucks loaded with export and commercial goods are being set on fire and the private sector’s confidence is eroding fast.
His comments come at a time when the country has been in crisis for over a year now for the opposition’s demands to reinstate the caretaker government system and Jamaat resorting to deadly violence over the trial of its senior leaders for war-crime charges.
Repeated shutdowns and roadblocks have not only disrupted the free movement of essential commodities but also choked private sector activities.
Rahman said the sudden arrest of Abdul Awal Mintoo, a former president of Federation of Bangladesh Chambers of Commerce and Industry and an influential business leader, along with other senior opposition leaders, has impeded the initiative for holding a dialogue to resolve the ongoing impasse.
“The arrest of a person like Abdul Awal Mintoo is not in the best interest of the economy. We need to release him and others to help the country overcome a trying moment,” he said, adding that the release of Mintoo would help the private sector regain confidence.
FBCCI, the country’s apex trade body, has already expressed concern over the arrest of Mintoo, a pro-BNP businessman, and demanded his immediate release.
Rahman, also former FBCCI president, said the government should listen to the business community. “There is a need for dialogue among the political parties to defuse the grave situation.”
“An understanding between the government and private sector is desirable for betterment of the economy under this pressing political situation. And a person like Abdul Awal Mintoo can contribute greatly in this regard because he has worked closely with the government in the past. At the same time, he also represents the private sector.”
The growth potential and achievements in areas such as economic growth, food self-sufficiency, health and slowing population growth have been overshadowed by squabbles during every election year in the last 15 years, Rahman said.
The country’s private sector showed strong resilience against all obstructions and odds, he added. “If authorities can provide a congenial environment, the country will reach a new height.”
The business leader thinks raising the current GDP growth from 6 – 6.5 percent to 8 percent would not be tough and it would pave the way for Bangladesh to become a middle-income country in the next five years.
“We will be able to achieve the target if we mean it — it will not be achieved by mere statements. But politicians must create an enabling environment.”
The political parties — both ruling and the opposition — should realise that the common people are being affected the most by deadly street violence.
Once any business is obstructed due to political impediments, including road blocks and shutdowns, it takes time to recover from the situation and recoup the losses, Rahman said.
“Politicians need to understand that they must ensure an enabling environment for the businesses. If there is no business, there will be no money to run the country. Businesses are an integral part of the country as they could contribute towards solving the crisis.”
“There are some industries, like readymade garments, that face huge losses,” he said, urging the government to pay attention to the causes that led to shutdowns, looting and other destructive activities.
Demand for industrial loan has dropped in recent months, Rahman added. “This will definitely have an adverse impact in the long run, for creation of the much-needed industrial base.”