Prominent business figures in Chattogram have urged the new government to introduce more import-friendly policies and improved loan facilities to revive economic activity, trade leaders said on Friday.
In the wake of the Bangladesh Nationalist Party’s (BNP) decisive victory in the 13th national parliamentary election, the city’s traders expressed concern over stagnant economic conditions and called on policymakers to create a more supportive environment for business.
Entrepreneurs emphasised the need to reduce bureaucratic red tape and adopt reforms that align with international “Ease of Doing Business” standards to stimulate investment and trade, according to Mohammed Akthar Parvez, director of PHP Group. He said that simplifying import procedures and strengthening loan access would be critical for economic momentum.
Almas Shimul, additional managing director of GPH Ispat, highlighted that reforming the banking sector and easing conditions for business loans are essential to attract investment and support expansion.
Trade representatives also called for adjustments to letter-of-credit (LC) margins to sustainable levels and urged the government to take effective steps to stabilise the foreign exchange market. Mohammad Mohiuddin, law secretary of the Khatunganj Trade and Industries Association, said lower LC margins would lessen financial strain on importers.
Business leaders characterised the policies of the previous interim government as contributors to economic stagnation and factory closures, and they stressed the importance of urgent reforms to rejuvenate production and investment. They also requested uninterrupted, reasonably priced gas and electricity supplies, along with comprehensive customs reform to enhance policy consistency.
