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A meeting was held on Saturday at the BGMEA Complex in Uttara, Dhaka, to discuss the country's current business situation and industrial sector safety.
Chaired by BGMEA Administrator Md Anwar Hossain, the meeting was attended by leaders from major trade associations and key BGMEA representatives.
The primary agenda focused on challenges facing the industrial sectors, particularly the garment industry. Discussions included issues such as safety and security in industrial areas, gas supply shortages, and banking-related difficulties impacting businesses, BSSreported citing a BGMEA press release.
A major topic was factory safety, with business leaders urging the government to take immediate steps to ensure a stable law-and-order situation in industrial areas and safeguard all factories, including those in the garment sector. They stressed that a secure environment is critical for preserving jobs and driving economic development.
Concerns were also raised about a new policy by Bangladesh Bank on defaulted loans, set to take effect in April 2024. Business leaders warned that the policy could hinder private sector investment and adversely impact employment. They agreed to conduct sector-wise studies to evaluate the policy’s potential effects on various industries.
The meeting further addressed Bangladesh's upcoming graduation from Least Developed Country (LDC) status in 2026. Leaders highlighted the potential loss of key trade benefits and competitive advantages, which could pose challenges to the country's global market standing. They recommended extending the transition period for LDC graduation by 3-6 years to better prepare for the associated challenges.
Among those present were Tapan Chowdhury, Adviser to the former Caretaker Government and Managing Director of Square Pharmaceuticals; Md Hafizur Rahman, Administrator, FBCCI; Ardashir Kabir, President, BEF; Anwar Ul Alam Chowdhury (Parvez), President, BCI; Mohammad Hatem, President, BKMEA; Showkat Aziz Russell, President, BTMA; Kamran T Rahman, President, MCCI; Md Shahriar, President, BGAPMEA; Osama Taseer, Past President, DCCI; Shams Mahmud, Member of BGMEA Support Committee; Abrar H Sayem, President, BAYLA; and Hasin Arman, 1st Vice President, BAYLA.