Gas a bigger problem than political unrest for investment, businessmen say
Saturday, 20 September 2008
Business and industrial entrepreneurs are still shaky about their investment decisions inspite of improvement in domestic political environment, reports UNB.
They, however, were following a "wait and see" strategy waiting to see how the political situation turned eventually, although signs were a bit positive by now.
Of the entrepreneurs, the less shaky ones would like to watch the situation for at least 6-8 weeks to get a clear understanding whether the political situation was going to improve before they would consider investment projects.
"Most of the people-be they potential candidates or people who would patronise a candidate in the next election as well as the people from the common masses believe that the election would be held. But everybody is a little bit shaky," FBCCI president Annisul Huq told UNB in an interview today (Friday).
He said the country was, no doubt, passing through a critical situation after its hardest two years when many incidents mainly the price shock took place simultaneously across the world.
"The country situation would have been different hadn't there been adverse incidences globally," the FBCCI chief said, indicating that the situation might have been a bit easy.
He said the domestic investors had been active in investment though a bit slow, but the foreign investors were almost inactive here considering the domestic political as well as the global situation.
The apex trade body leader foresees a more problematic post-election scenario if the political transition goes through a calamity as the foreign investors would consider the political situation for a period of about 1-2 years even after the election.
"So, consensus between the two parties is badly required for the country," he said, pointing to the fresh initiative of the Election Commission for political dialogue that begins Saturday.
"We all want to see the developments from a clear perspective. But, it's not easy," he said.
Annisul Huq said domestic entrepreneurs undertake some expansion or new investment projects even in a situation having domestic political unrest for their own survival, but that could also be affected by the shortage of gas.
"Gas is just killing us. It has emerged as an even bigger problem than the political unrest," he added.
Echoing a similar view, his predecessor in the FBCCI and leading industrialist Mir Nasir Hossain said: "Political unrest is an issue, but the gas is a huge issue."
He said the industries, those based on gas as raw material and those depend on gas as alternative source of power, would not be able to operate due to gas shortage.
"I'm trying to take decision on some of my new investment projects as time will not wait for my investment, but the gas is now the most difficult consideration," said the industrialist.
They, however, were following a "wait and see" strategy waiting to see how the political situation turned eventually, although signs were a bit positive by now.
Of the entrepreneurs, the less shaky ones would like to watch the situation for at least 6-8 weeks to get a clear understanding whether the political situation was going to improve before they would consider investment projects.
"Most of the people-be they potential candidates or people who would patronise a candidate in the next election as well as the people from the common masses believe that the election would be held. But everybody is a little bit shaky," FBCCI president Annisul Huq told UNB in an interview today (Friday).
He said the country was, no doubt, passing through a critical situation after its hardest two years when many incidents mainly the price shock took place simultaneously across the world.
"The country situation would have been different hadn't there been adverse incidences globally," the FBCCI chief said, indicating that the situation might have been a bit easy.
He said the domestic investors had been active in investment though a bit slow, but the foreign investors were almost inactive here considering the domestic political as well as the global situation.
The apex trade body leader foresees a more problematic post-election scenario if the political transition goes through a calamity as the foreign investors would consider the political situation for a period of about 1-2 years even after the election.
"So, consensus between the two parties is badly required for the country," he said, pointing to the fresh initiative of the Election Commission for political dialogue that begins Saturday.
"We all want to see the developments from a clear perspective. But, it's not easy," he said.
Annisul Huq said domestic entrepreneurs undertake some expansion or new investment projects even in a situation having domestic political unrest for their own survival, but that could also be affected by the shortage of gas.
"Gas is just killing us. It has emerged as an even bigger problem than the political unrest," he added.
Echoing a similar view, his predecessor in the FBCCI and leading industrialist Mir Nasir Hossain said: "Political unrest is an issue, but the gas is a huge issue."
He said the industries, those based on gas as raw material and those depend on gas as alternative source of power, would not be able to operate due to gas shortage.
"I'm trying to take decision on some of my new investment projects as time will not wait for my investment, but the gas is now the most difficult consideration," said the industrialist.