Businesses and experts were worried as activists from the country’s leading political parties were involved in clashes in the capital on Saturday, leaving dozens of people, including several policemen, injured.
Besides, major opposition parties called a daylong strike on Sunday and the ruling party announced peace rallies across the country on the day.
The clashes erupted at a time when the country is facing severe economic crisis, including depletion of foreign currency reserves. Exporters are also facing work orders’ crisis and readymade garment workers are staging demonstrations, demanding Tk 23,000 as monthly wage instead of Tk 8,000.
Amid such a situation, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mahbubul Alam has called for ensuring a stable and conducive political environment to promote business and commerce.
On October 28, the activists from Bangladesh Nationalist Party (BNP) and their allies clashed with police and Awami League men in the capital. The nearly five-hour clash grabbed national and global headlines.
The US embassy in Dhaka had already issued alert notice to their citizens for safely movement, and other western nations also voiced concern about the violence.
It should be noted that Bangladesh’s economy, especially the export sector, is highly dependent on the western nations, and nearly 80 per cent of export earnings came from the markets. The US is the largest single country export destination for Bangladesh, and the European Union (EU) holds a 50 per cent share of Bangladesh’s exports.
The nations also wanted a free and fair election in Bangladesh, and expressed deep concern about political instability in the country. US Department of State has already imposed visa restrictions on them who will create barrier to a free and fair poll in Bangladesh.
Businesses said when they are trying to turn around from the back-to-back global economic crisis, which was created due to the Covid-19 pandemic and Russia-Ukraine war, political clashes caused trouble to them.
They claimed that the clashes will severely impact their exports as the buyers will not come to the country due to security reason, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan told The Business Post. “It was unexpected to us.”
“We urged both the parties to exercise their political rights peacefully, but they did not. I again urge them to come to the negotiating table and protect the country and its economy. Otherwise, buyers will feel security crisis and as a result, we will lose orders, which is most import for our country.”
The apex body president still believes that if both the parties want, the crisis could be resolves. “Clash and blood is not solution. Let’s build the country together.”
The apparel sector holds an 85 per cent share from the country’s total exports, according to the Export Promotion Bureau (EPB).
Talking with United News of Bangladesh (UNB) on Friday on political parties’ gathering in Dhaka on Saturday, the FBCCI President said that the political parties have commitments to the welfare of the people of this country, so without political stability, the political parties cannot reach their destination.
Opposing road blockade and hartal, he said Bangladesh made progress in the economic sector in recent years despite the global economy going through recession, which becomes possible due to a stable political environment here.
Alam said the economy is struggling with the COVID-19 pandemic, then the Russia-Ukraine war, and now a new war has begun between Palestine and Israel, political stability is a must for sustaining supply chain and industrial production.
“The political parties have the right of political gathering, but their programs should not include vandalism and road blockade, which will give a wrong message to our foreign business partners as well foreign buyers of Bangladeshi products,” the FBCCI president added.
Ruling party said that the election should be based on the ongoing constitution where current Prime Minister Sheikh Hasina will continue in her post during the polls.
But the oppositions are demanding a caretaker or an interim government to ensure a free and fair election. Main opposition BNP and their 38 allies are peacefully holding demonstrations and other political activities for a long time for an interim government.
But on October 28, this turned to fight, and both the parties determined on their demand. Businesses and experts said they are highly disappointed at the clash amid the severe ongoing economic crisis and high inflation.
They said if the situation prolongs, the supply chain will be disrupted and mass people along with business will be sufferer.
Saying that this is shameful for a civilized nation, Policy Research Institute of Bangladesh Executive Director Ahsan H Mansur said, “As they fight for citizens’ voter rights why they are creating hazards on mass people’s life?”
“People want voting right in the polls, and the political parties will ensure this. But the solution should be in the table. Attacks, counter-attacks and strikes never bring any good news for the country and their citizens. It will damage our reputation in the global community and our economy will be hampered.”
Echoing with Mansur, BGMEA president Faruque said, “As both the political parties are determined on their demand, the economy is likely to be collapsed. Considering the country’s economy, they should find a solution in the table.”
