The business and export activities are being hindered owing to political unrest that continued in the country on Sunday following the clashes between the police and the BNP activists in the capital on Saturday.
At least three people were killed and several vehicles were set on fire and vandalised during the countrywide dawn-to-dusk hartal called by the Bangladesh Nationalist Party (BNP) on Sunday. Jamaat-e-Islami also staged demonstrations while ruling Awami League held peace rallies across the country on the day.
Political instability and demonstrations took place at a time when the country is facing severe economic headwinds, including depletion of foreign exchange reserves, and soaring inflation while exporters are also facing work orders’ crisis, putting pressure on forex further.
Businessmen voiced concern over political unrest in the country, disruption in the supply chain, and delivering ongoing work orders. They also sought political stability and harmony among the ruling and opposition parties for the sake of the country’s economic and export growth.
Amidst such a situation, BNP has announced countrywide blockades for three consecutive days starting on October 31 (Tuesday) which may fuel business losses, businessmen fear.
At a virtual press conference on Sunday evening, BNP Senior Joint Secretary General Ruhul Kabir Rizvi came up with the announcement on the fresh programme.
He said the blockades will be observed on October 31, November 1 and 2 across the country also to register protest against the arrest of over 1,000 leaders and activists of BNP and its associate bodies, including party Secretary General Mirza Fakhrul Islam Alamgir.
"This blockade will be observed on roads, railways and waterways," Rizvi added.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan told The Business Post, “Already, buyers are worrying about Bangladesh’s political instability and clashes. They do not want to come there for uncertainty and losing confidence regarding work orders to get delivered on time.”
“If such a situation continues, there is possibility that buyers will go away from us and we will lose the global market,” he added.
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.
Talking to The Business Post, Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) vice president Fazlee Shamim Ehsan said, “We do not want such explosive political activities. Besides, we want export sector remain out of political demonstration like previous time.”
“The export sector was out of political demonstration to keep pace in the country’s economy,” he said.
However, though logistics support and road blockage erupted in the capital and outside city, the country’s busiest port is still normal.
Talking to The Business Post, Chittagong Chamber of Commerce and Industry (CCCI) director Altaf Hossain Chowdhury said, “Still, the country’s busiest port remains normal, and imports and exports are running without any disruption.”
He is the secretary of Bangladesh Customs Clearing and Forwarding Agents Association.
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.
