‘There appears to be significant alignment between Tarique Rahman’s vision and our expectations’

Top industrialists and business leaders this evening expressed concerns over the country's deteriorating law and order during a meeting with BNP acting chairman Tarique Rahman at the party chairperson's Gulshan office.

From gas and electricity shortages to instability in law and order, rising interest rates, and unpredictable tax policies -- business leaders said persistent challenges are stifling investment and threatening economic growth.

Ahsan Khan Chowdhury, chairman of Pran-RFL Group, said that Tarique Rahman gave significant time and attention to the concerns raised by the business community during the meeting.

"He listened to us for two and a half hours and took note of everything we said. It gives us hope that the future of business in Bangladesh will improve," Chowdhury told reporters after the meeting.

He said the discussion covered a wide range of issues -- from law and order to banking challenges.

"Fellow business leaders were able to present the problems faced in the country very clearly, and the BNP acting chairman was patient throughout," Chowdhury added.

He expressed optimism that BNP would take necessary steps to address the issues if the party returns to power.

"There appears to be significant alignment between his [Tarique's] vision and our expectations. I believe we will see positive progress, and the country will move forward," he said.

Abdul Muktadir, president of the Bangladesh Association of Pharmaceutical Industries (BAPI), said while the meeting with the BNP acting chairman was not meant for in-depth policy discussion, key concerns of the business community were heard.

"It was primarily a condolence visit, but some business leaders raised common issues -- lack of gas supply, deteriorating law and order, inconsistent National Board of Revenue (NBR) policies, infrastructure problems, high bank interest rates, and high VAT," Muktadir said.

He noted that although Tarique Rahman listened attentively, he refrained from making specific commitments at this stage.

"He said, 'Pray for us. We will try to address these problems, but not everything can be fixed overnight.' His core message was that they want to establish rule of law, so that people can live peacefully and feel confident to invest," Muktadir added.

The BAPI president quoted Tarique as saying that BNP aims to develop the capital market to reduce the cost of funds for businesses.

"He told us clearly -- you are the manufacturers, you create employment, and drive prosperity. We will only provide an enabling environment. Business will be done by you. Our role is to facilitate," Muktadir said.

Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said that Tarique Rahman wanted to hear sector-specific problems and suggestions for the future.

During the meeting, participants raised several key issues. Hatem said he specifically highlighted concerns around Bangladesh's upcoming graduation from Least Developed Country (LDC) status.

"I told him that the government's current approach to LDC graduation is self-destructive. He agreed with my view," said Hatem.

He also expressed deep concern about the recently proposed labour law reforms, warning that they could severely impact the readymade garment sector -- much like how the once-thriving jute sector declined.

"He [Tarique] acknowledged the concerns and said he had already spoken to the government, urging them not to implement the law at this stage," Hatem added.

Hatem noted that law and order received the most attention during the meeting.

Banking sector problems were also raised, with several participants, including some bank owners, addressing policy shortcomings and the growing number of struggling industries.

"In total, the core issues discussed were labour law reforms, LDC graduation, law and order, tax policy, corruption, infrastructure, and banking sector instability," Hatem said.

Mostafa Kamal, chairman and managing director of Meghna Group of Industries, said Tarique Rahman requested businesses to ensure prices remain stable during the month of Ramadan.

"I have assured him that we will do as much as possible to ensure the supply of Ramadan essentials and keep the supply chain smooth," he said.

After the meeting, BNP Standing Committee member Amir Khosru Mahmud Chowdhury said business leaders trust the party, adding that if the BNP comes to power, it will address their expectations and problems.

"I think businesspeople have very strong trust in the BNP… Our employment is declining. We discussed the problems in the banking sector, the stock exchange, the capital market, and other related issues. They hope that if the BNP can form a government through the people's vote in the coming days, it will be able to address the expectations of businesspeople," Khosru added.

He said that the BNP acting chairman listened to the problems of businesspeople.

Khosru further said, "There are issues with bureaucrats, extortionists, and high bank interest rates. Because of corruption, the cost of doing business is increasing, and people have to pay more. As a result, prices of essential goods are rising."

The BNP leader said businesspeople are unable to run their businesses in an unfavourable situation.

"They cannot invest, and they cannot secure investment. If Bangladeshi businesspeople cannot invest, how will foreign businesspeople invest?" he said.

Those attending the meeting included Mahbubur Rahman, president of International Chamber of Commerce; Simeen Rahman, group CEO of Transcom; Anwar ul Alam Chowdhury Parvez, president of BCI; AK Azad, managing director of Ha-Meem Group; Tapan Chowdhury, managing director of Square Pharmaceuticals; Mir Nasir Hossain, former president of FBCCI; Matiur Rahman, chairman and managing director of Uttara Group of Companies; Ali Akbar, chairman of Bangladesh Steel Re-rolling Mills Limited (BSRM); Ahsan Khan Chowdhury, chairman of Pran RFL Group; Taskeen Ahmed, president of DCCI; Mohammad Jahangir Alam, president of Bangladesh Steel Manufacturers Association (BSMA); and Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

Other attendees were Mostafa Kamal, chairman and managing director of Meghna Group of Industries; Kamran T. Rahman, president of the Metropolitan Chamber of Commerce and Industry (MCCI); Kutubuddin Ahmed, former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA); Fazlul Hoque, former president of BKMEA; Nihad Kabir, former president of MCCI; Mahmud Hasan Khan, president of BGMEA; and Shawkat Aziz, president of Bangladesh Textile Mills Association (BTMA).

Besides, Azizul Kayser of Partex Group, Hossain Khaled, former president of DCCI; Md Shahriar, president of Bangladesh Association of Publicly Listed Companies; Moynul Islam, president of Bangladesh Ceramic Manufacturers & Exporters Association; Abdul Muktadir, president of Bangladesh Association of Pharmaceutical Industries (BAPI); Abdul Hai Sarkar, president of Bangladesh Association of Banks (BAB); Amirul Haque, managing director of Seacom Group, Preeti Chakraborty; senior vice president of Bangladesh Chamber of Industries (BCI); Fazle Shamim Ehsan, president of Bangladesh Employers' Federation (BEF); and Sharif Zahir, chairman of United Commercial Bank Limited (UCBL), were present at the meeting.