FBCCI calls for political stability

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday expressed concern over ongoing political unrest centring the upcoming parliamentary elections in January.

It also urged political parties to refrain from adopting demonstrations such as hartals and blockades in the greater interest of the economy and the masses who are already reeling from high living costs.

The economy is still trying to cope with the severe fallouts of the Covid-19 pandemic and Russia-Ukraine war, which have also affected the global supply chain for which the cost of doing business has increased abnormally.

In such a situation, political programmes like hartals and blockades are pushing the economy towards uncertainty, the FBCCI said in a statement.

The hartals and blockades have been affecting the supply chain and impacting prices of basic commodities in the markets, it read.

Local exporters also face the risk of work order cancellations by international buyers if goods cannot be shipped on time, it said.

Foreign direct investment will also be hampered as foreigners will opt out from investing here for the agitations.

The FBCCI also said the local economy suffers a loss of nearly Tk 6,500 crore if hartals or strikes are enforced for just one day.

Businesses do not want any political unrest, the statement said, adding that they want political stability which was important for economic growth of the country.

The FBCCI hopes for the political parties to refrain from adopting hartals and strikes for the sake of the country's economy, the statement said.