Businesses stop dead on political tracks
Staff Correspondent
The country's business and economic activities including export-import and functions at banks, insurance organisations and ports have remained almost suspended for the last few days due to Eid holidays and sudden eruption of political hostilities. Closed on October 23 due to Eid holidays, most of the private business houses and mills and factories are yet to resume their operation while public sector enterprises that officially opened yesterday had hardly any activities due to low attendance. As all modes of transport remained suspended, most of the workers and employees are yet to join office after the Eid holidays. Private and nationalised commercial banks partially operated yesterday while transactions were very low. Some private business houses operated keeping the shutter of the front door down. The operation of the stock exchanges remained suspended. Bangladesh Bank did not receive any check from commercial banks. The export-import activities have also remained suspended at all ports mainly due to the political agitation that added to the huge congestion at the country's premier Chittagong seaport. Capital Dhaka remained isolated from the rest of the country as the Awami League-led 14-party combine enforced a siege programme from Saturday morning demanding implementation of their electoral reforms agenda. The loading and unloading of goods at all sea and land ports came to a standstill yesterday following two days' continuous political unrest in the country. Responding to a call by Chittagong city Mayor ABM Mohiuddin Choudhury, labourers observed a work stoppage programme at Chittagong port. As there is no room for newly arrived containers at the port yard, the Chittagong port authorities, unable to handle more containers without releasing the existing ones, verbally requested the shipping agents not to bring any more containers. Around 20,000, containers -- three times more than the usual capacity -- have already been stockpiled at the port yard. The shipping agents informed the ship owners in Singapore and a decision from the owners' main platform -- Chittagong Feeder Trade Committee (CFTC) -- is likely to come today, sources said, adding that the CFTC may impose additional surcharge on Chittagong-bound containers again. Due to congestion at the port yard, seven ships remained anchored at the jetty without handling goods. Another 16 ships are waiting at the outer anchorage for getting berthing permission. Activities at all land ports also remained suspended due to countrywide agitation programme by the 14-party combine. As the transportation of goods stopped, the exporters and importers refrained from taking goods to and from the port. Business leaders said trade and commerce would suffer huge losses if the political deadlock continues. They urged the political parties to refrain from stopping movement of export-import cargo. The garment factories resumed operation on a limited scale but their export activities remained suspended due to the deadlock at the Chittagong port. The supply of raw materials at the factories was also stopped due to suspension of cargo transportation by road. The movement of cargo carrying trucks were halted at all the entry points of the capital. The deadlock will cause per day loss of Tk 200 crore in the garment sector alone, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) SM Fazlul Haque said. He urged the president and political leaders to bring an early end to the impasse. Bangladesh Frozen Foods Exporters Association (BFFEA) also urged the political parties to refrain from stopping movement of the export cargo and operation of Chittagong and Mongla ports in the interest of the country's economy. The country will lose huge foreign exchange if the deadlock continues, said the BFFEA president.
|