Businesses worried over political unrest

Businesspeople yesterday expressed concern about the ongoing political unrest and frequent shutdowns, which they said are a major obstacle to trade and both domestic and foreign investment.
Almost all business are being affected when the economy is taking off, said Kazi Akram Uddin Ahmed, president of the Federation of Bangladesh Chambers of Commerce and Industry, the apex trade body.
Ahmed said this when he was leading a delegation at a meeting with Commerce Minister GM Quader at the latter's secretariat in Dhaka.
“It will not be right to look for export markets only. We should also take care of the domestic market. The political unrest will not let the domestic economy expand,” Ahmed said.
If necessary, heads of the two major political parties should sit together to resolve the political crisis, he added.
The bank interest rate on lending must not cross 15-16 percent for the sake of the businesses, as some banks charge higher rates, he said.
He demanded an allocation of Tk 40 crore for the construction of the FBCCI office building from the upcoming national budget for fiscal 2013-14. The size of the next national budget might be Tk 2.30 lakh crore, Ahmed said.
Quader said the commerce ministry will try to amend the trade organisation rules by May to introduce a 'direct election system' in different trade bodies and expand the tenure of elected committees to three years.
“I will hold two seminars -- one in Dhaka and one in Kolkata -- within March 15 to resolve problems in trade through land ports, particularly of Hilly, Sonamasjid and Bhomra land ports,” Quader said.
He said he has already talked with some Indian ministers and Bangladeshi high commissioner in
New Delhi.
The government will consider whether the foreign investors could be allowed to become members of different trade bodies, the minister said.
About a hearing for the continuation of the generalised system of preference (GSP) in the US market, the minister said the visiting US high-ups have expressed sympathy.
He said he held a meeting with Eric Biel, the acting associate deputy undersecretary of the Bureau of International Labour Affairs, on Tuesday in Dhaka.
He said Biel is in Dhaka to see whether Bangladesh has improved its labour standards.
Quader said Bangladesh will also allow trade unionism in the industrial sector gradually, but it is not possible right now.