The Businesses welcome and commend the bold steps initiated by the Care-taker Government for tackling corruption, reconstitution of the Election Commission for making necessary preparation for holding a free, fair and credible election and creating an enabling environment for business and restoring the business climate in order to ensure continuity of growth momentum.

The Bangladeshi businesses have always stressed the need for confidence building measures and would, therefore, extend all out cooperation to the Government in its streamlining all government machineries to build a prosperous Bangladesh. The business leaders during a meeting made the following suggestions for consideration of the Government:Anti-corruption Drive

Recent anti-corruption drive of the Government is a bold step towards confidence building within the country as well as image building of the country to outside world. We urge the government to continue with the present drive to bring to book the corrupt and at the same time ensure not to harass innocent people. We also urge that government to make public only those names against whom there are specific charges so that the innocent people are not embarrassed.

Port Operation

The performance of Chittagong Port improved significantly after a number of positive measures taken recently by the Government including move for accelerating container handling and reducing cost. All required equipments for unhindered operation should also be ensured for confidence building of the exporter. The process of purchasing container scanners for expediting customs checking is definitely a welcome move. Further consolidation of steps for improving the port management and development of long-term policy is of utmost importance for a sustainable and efficient operations of air, sea and land ports of the country.

In addition to that all ports and ports services must be kept operational 24 hours a day and 7 days a week with connected services. All ports need to be inter-connected and equipped with on-line services. A long-term plan for building a most modern and efficient deep sea port should also be given priority.

Price of Essential Commodities & Anti-hoarding Policy

Continuous price hike of essential commodities including agricultural produce, has been causing economic hardship for all people, in particular, the poor and the middle income group.

Adequate supply of essentials is required in the supply chain to keep prices stable. Fluctuations in prices of essential commodities are also dependent on the international market prices, which are not static and need to be understood. In this context we welcome the Government decision to appoint research organizations to examine the reasons of price increase.

The Government decision of waiving duties on rice and wheat import will definitely help in reducing price in the local market. In this regard, the Business leaders reiterated their suggestion for duty free import of other essential commodities for stabilising the market price. It was mentioned that similar measures taken in India and Pakistan have been found to be effective for market price stabilisation.

We welcome the move by Bangladesh Bank for the commercial banks to reduce the L/C margin and to encourage small importers side by side with the large importers to import essential food and other commodities by providing them necessary support to meet the demand of the market.

The policy of storage of goods should not be equated with hoarding and normal business and storage should not be disturbed and impeded in the name of hoarding in order to maintain the supply chain to the retail outlets. The recent steps initiated by the Government for setting up an anti-hoarding policy at various supply chain is welcome. However, such a policy should take into consideration ground realities and developed in consultation with a team of experts to be drawn from the concerned trade bodies.

Fertilizer

It is extremely important that proper distribution of fertilizer is ensured and necessary measures are taken well in advance so that there is no disruption in procurement and distribution. Respective ministry should keep this as a priority agenda.

Power Sector Development

The prolonged power crisis could cripple the economy and may reverse the economic growth so far achieved. We appreciate full co-operation of our business establishments in saving electricity for domestic and industrial use by limiting their operation up to 7 pm. However, immediate steps should be taken to enhance supply of power by at least 3000 megawatts to meet the growing demands.

Capital Market Development

In most countries capital market plays a significant role in helping new investments. Stock market should be made source of capital instead of banking sector and for that matter rebuilding of confidence of the small and large investors in the capital market is essential. The Pension and Provident Funds should be allowed to be invested in the stock market.