FBCCI urges political parties to avoid violence for economy

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Dhaka, Nov 14 - President of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) Mahbubul Alam on Tuesday disclosed that the prevailing political situation is severely disrupting not only the country's supply chain but, by extension, manufacturing and production, as well as prices, exports, and even the service sector.

He said this in a views-exchange meeting with business leaders of various sectors, economists, and former leaders of FBCCI on the prevailing trade and economic situation, held at the Gulshan office of the federation.

The FBCCI President presided over the meeting and discussed various issues, including ongoing political violence, the dollar crisis, price inflation, control of imports of luxury goods, bank loans, foreign exchange reserves, ensuring a business-friendly environment, LCs, and others.

Business leaders said that for the past few years, a very stable political and economic environment has prevailed in the country, which is very important for business, trade, and the economy.

But recently, due to the violent activities of political parties, the country's business, trade, and investment are at risk. At the same time, attempts are being made to deliberately disrupt the readymade garment sector, they opined.

Stating that the country's political instability is pushing the national economy to the brink, the FBCCI president said the prevailing situation is severely disrupting the country's supply chain - impacting product production, market prices exports, and service sectors as well.

He insisted that political parties avoid all kinds of violent activities for the sake of the national economy.

Besides, the FBCCI President urged the Bangladesh Bank to play a more effective role in solving the dollar crisis and controlling inflation. He also urged the concerned authorities to ensure uninterrupted fuel supply to continue the production system in industrial factories.

In the ready-made garment sector, the wage commission has been set up according to the demands of the workers and employees, and the wages have been re-fixed based on discussions with both the workers and employers, which is a very positive step, the business leaders said.-UNB