–Rizwan Rahman–

The country’s political instability has severely disrupted economic activities nationwide, affecting the livelihoods and economy of its people. Without immediate and effective measures, the supply chain will be further disrupted, increasing both financial losses and public suffering.

Had the law-and-order situation been better managed, the current distress in sectors like the garment industry would have been avoidable. High inflation is already causing significant hardship. People are struggling with the soaring costs of essentials like rice and lentils.

During the One-Eleven period, the economy was plunged into crisis due to rising commodity prices and the persecution of businesspeople. We must learn from that experience.

Addressing the difficulties businesses face should be treated with the utmost priority. If businesses fall into deeper crisis, supply chains will collapse, and controlling inflation will become impossible despite various efforts.

The government must uphold the rule of law and ensure the safety and security of business operators, providing them with a conducive environment for conducting business. It is essential to build trust with them and engage in regular discussions.

Many business organisations are currently being run by administrators. These organisations need leadership through elections, which should be held promptly to restore proper business representation.

To effectively run the private sector, those who drive it must be consulted. Genuine businesspeople will not flee the country—they will remain here, live here, and contribute here. I urge policymakers to recognise their significance; they have made substantial contributions to the economy.

We are not asking for debt forgiveness; we are requesting rescheduling. During this critical period, loan instalments should not be demanded for the next six months. Allow businesses to recover first; otherwise, they risk bankruptcy, and the burden of non-performing loans will increase.

Everyone is taking to the streets. If businesspeople are forced to do the same, maintaining economic stability will become extremely difficult. Our system demands that businesses navigate through political compromises to survive.

Those engaging in protests and vandalism today do not have factories or thousands of workers to pay. Workers are expressing their grievances through destruction, but where can businesspeople turn? Access to the FBCCI president is blocked due to an appointed administrator.

Small businesses unable to continue operations need their loans of Tk5 crore or less to be rescheduled. If the middle-income population is not financially stable, the economy will collapse.

Business operations are not running as usual. Due to the ongoing crisis, businesspeople cannot repay their bank loans on time. Protests are erupting in various areas, severely impacting the supply chain and potentially driving up commodity prices.

In the new Bangladesh, we must move forward. Regular discussions with business leaders are essential for the development of the private sector. A committee of competent individuals from within the business community should be formed. Without this, the private sector will not function efficiently. Engage those who understand these issues.

To recover from the economic damage already done, providing urgent and necessary support to the private sector—considered the main driving force of the economy—is crucial.

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The writer is a former President of the Dhaka Chamber of Commerce and Industry (DCCI)