Tycoons of the apparel and textile industry have issued a clarion call to the newly formed interim government, demanding a sweeping crackdown on corruption and institutional reform to safeguard Bangladesh's export prowess.
During a meeting organised by the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) in Dhaka on Monday, industry leaders emphasised the need for transparency and solid governance to sustain the nation’s export momentum.
The event, presided over by BGAPMEA President Al Shahriar Ahmed, saw key contributions from senior business leaders, including business leader Kazi Akram, Bangladesh Apparel Youth Leaders Association (BAYLA) President Abrar Hossain Sayem and MB Knit Director Hasin Arman Ayon.
BGAPMEA president proposed forming a committee with any one industry stakeholder and present the sector’s demands through the selected individual as the main discussion revolved around the crises of customs and bonds.
Announcing that they will cooperate with this government, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Executive President Mohammad Hatem assured “we do not belong to any party. We will support the government for the sake of the country's economy. We will cooperate in curbing corruption and we expect everyone to do the same to foster stability.”
Demanding the resignation of the National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem, the BKMEA executive president added, “their officials are regularly harassing us and taking bribes, and the chairman always protects them. We want a harassment-free business environment from the government.”
As chief guest, former president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Abdul Awal Mintoo said, “Lack of democratic processes for an extended period creates accountability issues, hence corruption occurs.
“As long as we have the mentality of supporting the government, we will be able to achieve these things. We need a representative and constitutional government as soon as possible,” he urged as he said, “…This country needs a new constitution.”
Showkat Aziz Russell strongly advocated for restoring accountability in the business sector, stating, "The soaring gas and power prices are nothing short of a burden. We encounter numerous challenges, from extortion to delays in getting our goods out of the factory gates. At times, it feels like we may have erred in investing here.
“Given that one in ten people depends on our export sector for their livelihood, the government must support us—not just for our sake, but for theirs as well. The recent decision by the new government to address gas price issues is a step in the right direction."
Shasha Garments Managing Director Shams Mahmud highlighted the importance of restoring Bangladesh's global reputation, remarking, "We are beginning to see the dawn of justice, which gives us hope for smoother business operations. However, the immediate concern is the harassment by the NBR, which needs urgent attention."
During the programme, businesses said that the reformation of the banking sector is crucial step towards creating a solid economy. They said that if the government can cure the NPL crisis, and take legal steps against loan defaulters, businesses will be able to get loans with minimum interest rates.
Meanwhile, regarding the politicisation of business forums, Bangladesh Sewing Thread Manufacturers and Exporters Association President Abul Quasem Haider said, “Businessmen have been unable to speak their minds,” he remarked as he questioned that doing business at 16 per cent interest rate is possible or not. “It should be brought to a reasonable level,” as he opined that separate prices for gas and electricity should be given to industries.”
The senior leader further said that the banking law needs reform. Only one director from the same family should be allowed. Today’s 16 per cent interest is due to money laundering. Strict action should be taken against loan defaulters with a special tribunal formed to take action against corruption.
BGMEA Vice President Abdullah Hil Rakib said, “It’s like a game of musical chairs. Now there will be occupancy. I urge the party representatives to let us do business. We see neighbouring factories being vandalised, and we cannot do anything.
“Factories are in a cash flow crisis. We seek the opportunity to defer utility bills for up to six months as businesses should not be blocked for that time, especially in terms of loan repayment.”
He informed that the BGMEA has recruited 1,000 community police to bring back stability in the industrial areas.
