Welcome confidence-building proposals for business

We welcome the move made at the highest level of the caretaker government and its backers to jointly address the issue of dwindling confidence in the business community stemming from certain steps taken by the government. It is for the first time that Chief Adviser of the caretaker government and the Army Chief exchanged views with leaders of industry, trade and business in an interactive session designed to allay their misgivings about some of the impact of anti-corruption drive.
Some concrete assurances have been given to the business community by way of addressing their concerns. For instance, the National Coordination Committee (NCC)'s list of corruption suspects of 200-220 persons will be finalised and made public by the end of the current month. A list of 142 has already been released with that of the remainder 58-78 now being awaited. So at the end of this month, the business community would have a clear idea as to who will be pursued. Furthermore, there will be quarterly stock-taking of the level of business confidence and steps taken to fill in the gaps where necessary. The idea of Bangladesh Better Business Forum to be headed by Chief Adviser for public-private sector dialogues to reduce fear instantly strikes a responsive chord in us. Two specific concerns aired by business leaders are an unclear legal parameter of corruption and excessive red tape and undue harassment from bureaucracy. To address these the Chief Adviser has decided to form a Regulatory Reform Committee to review laws and remove unnecessary ones. Capacity building in select government institutions to facilitate business is a step that cannot brook any delay.
The real challenge is to implement the decisions. We have seen how directives given at the highest level were not being complied with at the institutional level. NBR and the banks are known to be asking questions about the source of money put in imports or deposited in the banks despite the highest level exhortations not to do it.
We have a set of 11-point proposal advanced by Army Chief General Moeen which are very important and of far-reaching nature besides being multi-dimensional. We suggest small groups of experts be formed to give a concrete shape to the proposals.
Now that the 'fear' of the business community has been allayed, we expect them to go full speed in giving a new impetus to the economy.