The Bangladesh Chamber of Industries (BCI) has urged the interim government to initiate the election process without delay, asserting that businesses require a democratically elected administration for economic stability.
Addressing a media briefing at the organisation’s Tejgaon office in Dhaka on Saturday (25 January), BCI President Anwar-Ul-Alam Chowdhury Parvez stressed the urgency of holding elections. “The interim government should move into the election process as quickly as possible, no matter how short the term, to bring relief to all,” he stated.
Parvez expressed concern over the political discourse, noting that parties rarely focus on economic issues, instead engaging in rhetoric against one another. He also highlighted the government's efforts to implement labour laws to regain the US Generalised System of Preferences (GSP) in the apparel sector.
However, he cautioned that the government’s adherence to IMF-prescribed economic policies could negatively impact the country’s financial stability. While acknowledging that some reforms are necessary, he urged the interim administration to formulate a roadmap that balances economic imperatives with pragmatic implementation.
"The Bangladesh Bank has adopted a contractionary policy, reducing liquidity supply," he said in response to a journalist’s question. "We can prepare and work in many sectors to comply with IMF conditions, but full implementation of their prescription will be detrimental to the economy."
Bangladesh is set to graduate from the least developed country (LDC) category by 2026. However, Parvez advocated extending the transition deadline to 2029, arguing that the previous Awami League government had overstated economic figures to claim credit for the transition.
"We, as businesspeople, believe that if the deadline is not extended, the economy will face severe consequences," he warned.
