Some leading chamber bodies have condemned the ongoing blockade programmes at a time when the country is facing an inflation pressure and a foreign currency liquidity crunch.
Heads of the chambers said such political programmes were hurting the country's image abroad and impacting the foreign direct investment flow.
The BNP and its allies have called a 48-hour blockade programme beginning early morning today (Sunday).
"FICCI condemns violence and blockades, especially at a time when the country is facing economic headwinds with sustained high inflation and foreign currency liquidity tightness", said FICCI (Foreign Investors' Chamber of Commerce and Industry) President Naser Ezaz Bijoy.
Naser said such actions would adversely impact future export orders and foreign currency inflow thus exacerbating the existing economic challenges.
"We have already observed lower global demand for apparels and leather goods, this will give international buyers reasons on a platter to divert orders and reduce prices to adjust against risk of the potential supply chain disruption".
The FICCI, formerly Agrabad Chamber of Commerce and Industry, said: "It is not about politics because the consequences of the anarchy will be borne by general people and entrepreneurs of Bangladesh".
"Anyone, who has minimum patriotism, should act responsibly to avoid the adverse consequences in the interest of Bangladesh."
Mr Mahbubul Alam, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade organisation of Bangladesh, said that businesses had been facing huge losses following such programmes as it halted the transportation of goods and raw materials from one place to another.
"We condemn such violence and blockade as it is impacting adversely the economy".
Mr. Alam said the stubbornly high inflation and would worsen further, if such agitation programmes continued.
He said the FDI was very crucial for Bangladesh adding: "None will show interest in Bangladesh once the programme continues".
Anwar Alam Chowdhury (Pervez), president of the Bangladesh Chamber of Industries (BCI), a separate chamber of the industrial community, said that the ongoing blockade programmes were hitting hard their members.
"A large number of our members belong to the small and medium industry category, they need to go to different destinations to sell their products. But this blockade is a major obstruction", Mr Chowdhury said.
He mentioned that some of their members were recovering from the Covid-19 impact. "They now again will face trouble".
The BCI chief said Bangladesh had now higher inflation and the people's purchasing power dropped significantly. In such a situation, the sales of domestic products will face a disaster".
He said that the business community had been facing two major challenges: dollar shortages at the banks for opening of letters of credit and the blockade.
© 2024 - All Rights with The Financial Express
