The ongoing nationwide student movement demanding reforms to the quota system for government jobs has severely impacted retail businesses in Dhaka. Retailers report lower sales due to the reduced turnout of customers, as fear of vandalism has kept many shopkeepers from opening their shops in most areas in Dhaka and other cities. This situation is unsustainable and poses a significant threat to the economy if not resolved promptly.
The unrest began on July 1 with demonstrations by students of the University of Dhaka and Jahangirnagar University, and it has since spread to other public and private universities, and even to colleges. The scale and intensity of the protests have escalated, leading to violent clashes. Tragically, at least seven people have been killed in these confrontations, with casualties reported in Dhaka, Chattogram, and Rangpur. Additionally, a large number of protesters have been seriously injured.
In an effort to maintain law and order, the Border Guard Bangladesh (BGB) has been deployed in Dhaka, Chattogram, Rajshahi, and Bogura. Despite these measures, the unrest continues to disrupt daily life and business operations.
Speaking to the journalists, Dewan Aminul Islam Shaheen, president of the Dhaka New Market Business Owners' Association, has expressed grave concern over the downturn businesses have experienced over the last 8 to 10 days. He reports that customers are afraid to visit shops due to the blockades and the potential for violence, leading many shopkeepers to close early. This fear has had a ripple effect across the city, with retailers at Elephant Road and Aziz Cooperative Supermarket in Shahbagh reporting similar situations.
The broader implications of this unrest are dire. The inability to open shops and the scarcity of buyers in areas where shops are open are creating a cascading effect that threatens the economic stability of the country. Retailers, who are a vital part of the economy, are suffering significant financial losses that could lead to long-term consequences if the situation is not addressed.
It is crucial for the authorities to address and resolve this crisis promptly. Prolonged unrest will not only cripple the economy but also undermine the livelihoods of countless citizens who depend on stable business operations. The government must take immediate and decisive action to bring about a peaceful resolution to the conflict. This includes engaging in dialogue with the protesters, addressing their concerns, and ensuring that law and order are maintained without further violence.
Mohammad Moniruzzaman
Motijheel, Dhaka