Incidents of arson, vandalism, and looting at factories and business establishments have remained a major concern for the business community, said Dhaka Chamber of Commerce and Industry (DCCI President Ashraf Ahmed.
Law enforcement agencies are present, but they have not yet reached a level where they can take immediate action, he pointed out saying businesses are facing many challenges.
He said some of the challenges can be addressed locally but others require national-level solutions with government intervention.
These challenges are coming on businesses in term of pressure as law and order situation in the country is yet to improve at an acceptable level, he further said calling a more proactive role of the law enforcement agencies.
He made these observations on Saturday at a seminar titled "Current State of the Economy and Outlook of Bangladesh," organised by the DCCI at its auditorium in the capital.
"The industrial police have not fully regained their former psychological state, lacking the confidence they once had, hence their response is delayed," Ahmed added. He also pointed out that some industries are struggling to pay their workers, largely because banks are unable to disburse necessary funds.
Mir Nasir Hossain, Former President, FBCCI said that the recent labour unrest has shattered our image in the global market. He also said that not only the export-oriented industries but the domestic market based industries are also important.
Regarding interest rate for manufacturing industries, he said that the real effective rate of interest is too high in Bangladesh and it hampers the entrepreneurs to compete with the international market.
He said reforms are badly needed in the NBR and customs houses. Moreover, customs houses should be automated, though, once the initiative has been taken few years back but it did not see the light.
He also said that an affluent middle income group of people have grown in recent past in the country, but in line with that, tax net was not widened which is unacceptable. Later, he said that due to lack of uninterrupted gas supply, the manufacturing industries are suffering a lot. He therefore suggested for strengthening on-shore and off-shore gas exploration in the sea.
Syed Nasim Manzur, President, Leather Goods and Footwear Manufacturers & Exporters Association of Bangladesh said that the businessmen now feel unsecured due to labour unrest and vandalism. Recently the consumption by the consumers either it is food or services, remarkably fall, he said.
He also said that the double-digit rate of interest on industrial loan is not viable for sustaining in the competitive market.
He said FDI is needed for a country like Bangladesh, but due to low confidence it remains stagnant now, but he hoped that it will see a positive move within few days.
Mohammad Hatem, President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) said that a good understanding and relation between the owners, workers and labour leaders can mitigate any unrest as well as violence in the factory.
He said that when factory owners do not get fair prices from the buyers, they have to suffer for that and most of the people even the labours do not know this issue.
Ahsan Khan Chowdhury, Chairman and Chief Executive Officer (CEO), PRAN-RFL Group told Bangladesh is a land of opportunity; he also termed that Bangladesh could be the factory of the world for having its immense potentials.
He said that the main task of the business community is to create employment but sometimes, it gets a setback due to labour unrest.
