Chittagong still fighting for due importance

Mahbubul Alam

Chittagong must be given the importance it deserves and concrete steps need to be taken to convert it into the real 'commercial capital' of the country, said the newly-elected president of Chittagong Chamber of Commerce and Industry.
Referring to Chittagong as the commercial capital is nothing more than lip-service as even the most essential amenities are completely missing, Mahbubul Alam said in an interview with The Daily Star.
“The infrastructural development of a true commercial capital is not taking place yet.”
“To ease the present load that the city is enduring, it is important to build an Outer Circular Road, which could be used to transport goods in and out of Chittagong,” Alam said.
He was also apprehensive about the pace of work on the four-lane Chittagong-Dhaka highway.
This expanded highway needs to be operational as soon as possible for the betterment of Chittagong, Alam said.
On businessmen in Chittagong facing bureaucratic problems, the CCCI chief said: “We have repeatedly asked for at least two to three banks and insurance companies to have their head offices in Chittagong so that the business community in Chittagong does not have to waste time and money to get decisions and approvals.”
In business, time is of essence, Alam said. “As CCCI assumes greater importance because of Chittagong Port, we would like to present a blue print to the government to convert Chittagong into a real commercial capital.”
Turning to the work load at Chittagong Port, Alam said the port is working only up to 30 to 40 percent of its capacity, leaving a huge portion of capacity unutilised.
If expansion work of the port is completed, not only would Bangladesh be benefited, it could open new doors with the neighbouring country, particularly, the seven north-eastern states of India that are keen on taking advantage of this port.
Tourism is another sector that has long been neglected in Chittagong, said Alam.
The scenic spots near the sea in Chittagong and Cox's Bazar, and the tourist attractions in the hill districts of Bandarban and Rangamati could be transformed with proper plans to woo both domestic and foreign tourists.
“The private sector could be asked to participate in the expansion and development of the tourist spots in Chittagong.”
On the lack of expansion of business and industrialisation in Chittagong mainly for a shortage of gas, the CCCI president said it is unfortunate that the city's requirements are overlooked.
“There has to be a change in policy, and Chittagong's needs for gas and power must be met.” He urged the government to re-schedule its priorities in distributing gas to various regions of the country.
Alam was upbeat about his brainchild that he calls a 'Mini Economic Parliament' for CCCI.
Explaining his concept, he said, “As political matters are discussed in parliament, he wants the business community of Chittagong to talk about their problems in the chamber.”
The points discussed in this parliament could be placed before authorities through CCCI.
Alam said this is just not rhetoric and a CCCI research cell has already started work to put this concept into practice.
On the industrialisation, he said he would like to see diversification.
While agreeing that the readymade garments industry brings in a huge amount of foreign exchange, Alam said a country just cannot depend on one product and diversification is the answer.
“Pharmaceuticals, ceramic products, glass, rubber and, to some extent, steel have taken a place in our export basket, and this is a good sign.”
“What is needed to improve this situation is for the government to play a 'facilitating role' by introducing business friendly policies,” Alam said.
The CCCI president is an advocate of small and medium enterprises, which he says would not only help more people to come into business and prosper economically, but also reduce the risks of banks in writing off huge amount of default debt.
“SMEs need to be encouraged by the banks with attractive offers and Bangladesh Bank has already come forward in this respect.”
The CCCI president also feels that the business loan interest rates need to be reduced even in cases of those who import essential food commodities.
“Initiatives must be taken to bring the interest rates down to acceptable levels through discussions with Bangladesh Bank, the finance ministry and other relevant parties.”
On infighting within CCCI that led to one group taking the matter of 'proxy vote' up to the highest court, Alam said there was a misconception on 'alternate nominee' voting and he is happy the matter has finally been resolved and all members would now be able to work together for the betterment of CCCI.
A project that CCCI and Alam as its new president are proud about is the under-construction World Trade Centre, the first of its kind in Bangladesh.
Situated in the commercial area of Agrabad in Chittagong, this 21-storey state of the art building will have all the modern facilities and amenities that are required in an International Trade Centre.
Being constructed with CCCI's own funds, this trade centre is a registered member of the New York based World Trade Centres Association and it would have offices, banks, shopping malls, convention halls, recreation and entertainment centres, and a five-star hotel.
The CCCI president was optimistic that this Tk 200 crore project that started in May 2006 would be ready for inauguration in July 2013.