The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called upon all concerned to shun hartals, blockades and any intolerant political programme in order to maintain the economic stability of the country and also to minimize the sufferings of common people.
The country's apex trade body also expressed deep concern about the country'sbusiness, trade and economic situation amid the BNP-Jamat violence.
In a statement issued on Wednesday, the FBCCI said the long-standing COVID-19 pandemic across the globe alongside the impacts of the Russia-Ukraine war have had a long-term negative impact on the global economy.
It has also affected the economy of Bangladesh. In addition to the damage to global supply chains, the dollar crisis, rising fuel prices and rising transportation costs have resulted in an abnormal increase in the cost of doing business.
The FBCCI said the drop in imports has already reduced production and hampered exports. "This has adversely affected the overall economic activity.
Meanwhile, the newly added Gaza-Israel war situation has made the country's economic activities more fragile," he added.
In this situation, political unrest including hartals and blockades in the country are pushing the national economy towards an alarming situation.
The FBCCI said hartals and blockade programme called by various political parties is severely disrupting the supply chain which already has an impact on the market price of commodities and also on exports.
Entrepreneurs will be at risk of canceling their procurement order if they are unable to ship their products on time. Apart from these, the higher prices of all commodities including essential items will affect the common people. Noting that programmes like hartals and blockades will send a negative message about Bangladesh abroad, the apex trade body said if such situation continues, the foreigners would lose interest in investing in Bangladesh.
On the other hand, disruption of production will result in factory closures while employments would be at stake, which is not at all desirable. Not only this, if the political instability continues, then the amount of loan defaulters would be on the rise. Besides, the scope for new employment opportunities would be eroded.
According to experts, the FBCCI said one day of hartal or blockade causes a loss of about Taka 6,500 crore to the country's economy.
An emerging economy like Bangladesh will not be able to bear the brunt if intolerant programs like hartals and blockades continue.
It said businessmen, entrepreneurs do not want hartal, blockade and any violent program, rather they want political stability as because without it, the economic development of the country cannot be sustained.
The FBCCI also believed that the political parties would back track from intolerant programs like hartals and blockade keeping in mind the greater interests of the common people and the economy.
Despite the ongoing global economic crisis, the FBCCI said concerted efforts are being made to put the country's economy on a strong foundation. But, the ongoing hartal and blockade programme would disrupt the country's economic stability.
If the political unrest is prolonged, it would be tough to meet the LDC graduation challenges, achieving national goals including attaining the SDGs.
The FBCCI believed that politicians play a key role in moving forward the country. The politicians also play a pioneering role and give leadership in the life and livelihood of the people of the country, socio-economic development, expansion of business and trade and industrial establishments, development of investment and employment generation as well as the overall development of the country.
Under the circumstances, the FBCCI has called upon all concerned for shunning political programs like hartals and blockades, which are harmful for the economy, for the greater interest of the country.
