Telecom, IT sector losses estimated to be Tk 180b

The country's telecommunication and information technology sector suffered a loss of around Tk 180 billion in 10 days of internet shutdown amid students' job quota reform movement.
State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak shared the loss estimate while talking to journalists at Bangladesh Secretariat on Thursday, following a meeting with the affected entrepreneurs in the private sector.
He said the government has taken an initiative to provide intensive support to the telecom and IT sector, driven by the internet and the talent of youths, to help overcome the losses caused mainly due to the lack of emergency network protocols and business continuity plans.
To restore confidence and trust of the younger generation and mitigate employment risks as well as to help loss recovery, he said the sector leaders sought loan facilities for the business owners at an interest rate of less than 4.0 per cent to be funded by Bangladesh Bank.
The meeting focused on the recent challenges in the post, telecommunication and information technology sectors, assessing damages from terrorist attacks, and planning for future resilience.
Dr. Mushfiqur Rahman, Secretary of Posts and Telecommunications and Chairman of Submarine Cable Company, presided over the meeting.
Mohammad Zulfikar, Secretary General of the Association of Mobile Telecom Operators of Bangladesh (AMTOB); Russell T Ahmed, President of BASIS; Emdadul Haque, President of ISPAB; Sahab Uddin Shipon, Senior Vice President of E-CAB; Ahmadul Haque Bobby, Advisor of BACCO; and representatives from the Bangladesh Freelancer Development Society (BFDS) and other related sectors were present at the meeting.
Mr Palak said they have assessed the overall losses in terms of financial and goodwill of the posts, telecommunication, and IT sectors that rely heavily on foreign markets and international clients.
We have formulated a plan to recover financially and to provide policy support to overcome this situation," he said.
"We discussed an Emergency Internet Protocol and prioritised actions to maintain internet-dependent businesses, leveraging our 7200 Gbps capacity from the submarine cable. I assure you that their applications and rational demands will be met."
Palak further announced plans to support the country's 700,000 freelancers by providing individual-level incentives.
"I have submitted an application to the Ministry of Commerce and am working on a mechanism to offer these incentives. I hope to receive a positive response soon," he added.
Highlighting efforts to reduce consumer internet costs, the state minister emphasised the need for uninterrupted internet service in Bangladesh.
"During the crisis, we realised the importance of maintaining continuous internet service. Hence, we discussed transitioning overhead fiber optic cables from the submarine to underground for enhanced safety and reliability," he concluded.
In the wake of violence amid students' demonstrations, the government halted mobile internet and broadband internet services on July 18, disconnecting Bangladesh with the rest of the world and disrupting internet-dependent services.

[email protected]