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Country suffers Tk 364.46b loss in 16 days of turmoil

FE Report | January 23, 2015 00:00:00


The country has suffered an economic loss to the tune of Tk 364.46 billion in 16 days of the nationwide blockade from January 5 to January 20, according to a leading trade body.

 "Our businesses are not running well. We are at risk due to the ongoing political unrest. We want to get rid of such an unpleasant situation," President of Dhaka Chamber of Commerce and Industry (DCCI) Hossain Khaled told the media at a press briefing at the conference room of the trade body Thursday.

He said the calculation of the losses was made taking into consideration 16 sectors, including readymade garment, transport, tourism, insurance and others.

He said due to hartal the economic losses are around Tk 22. 77 billion per day.

"The losses we suffered in the 16 days' shutdowns are 2.697 per cent of the gross domestic product (GDP)," Mr Khaled mentioned.

He said that one day's GDP is equivalent to Tk 37.01 billion.  

Khaled said the country's agriculture sector suffered a loss worth Tk 2.88 billion per day while the poultry industry incurred a loss worth Tk 182 million a day. Apart from it the housing sector's loss was estimated at Tk 2.5 billion each day due to the hartal and blockade, he added.

 He mentioned that the schedules in the country's education sector have collapsed hitting education hard at all levels.

He proposed formation of a citizens' council with senior citizens, business representatives, media personnel, educationists and experts to deal with the current situation.

"No one of the committee members should have political affiliation," he proposed.  

He said the proposed citizens' council would evaluate all political parties equally and place acceptable recommendations that can be placed in Parliament, too.

The DCCI urged the political parties to shun violence and destructive political activities. "Political movement should in no way turn violent. We expect a peaceful movement from political parties."   

He said dialogue is the only way to resolve the current political crisis. "Any pressure or force can't bring the desired solution," he added.

Asked if they have any plan to call upon the two major political parties (Awami League and BNP) for dialogue to resolve the ongoing political impasse, he said, "If necessary, we will take initiative. As a representative of business people, we will tell them (two major parties) as much as possible for the sake our businesses and country's economy".

"We hope they (politicians) will listen to our pleas," he said and vented his frustration over the financial losses incurred during the last few days due to ongoing blockade.

"I have doubt what is gone (Financial losses) will come back," he also said.

Replying to a question he said: "If we get opportunity then we will meet Prime Minister Sheikh Hasina and BNP Chairperson Begum Khaleda Zia".

He suggested that political parties will have to reach a solution through effective discussions so that the economy does not get affected.

DCCI senior vice president Humayun Rashid, vice president M Shoaib Choudhury, directors AKD Khair Mohammad Khan, Alhaj Abdus Salam, K Atique-E- Rabbani, Osman Gani, Muktar Hossain Chowdhury, S Rumi Saifullah, and DCCI secretary AHM Rezaul Kabir, among others, were present.

talhabinhabib@yahoo.com


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