BM Report:

A delegation of the Bangladesh Chamber of Industries (BCI) led by its President Anwar-ul Alam Chowdhury (Parvez) paid a courtesy call on the Minister of Industries, Nurul Majid Mahmud Humayun MP, at the Sher-e-Bangla Nagar in Dhaka on Thursday.

At the outset of the meeting, the Minister was presented with a bouquet of flowers and a framed copy of BCI’s “My Product My Country” logo on behalf of the BCI Board of Directors.

BCI President Anwar-ul Alam Chowdhury congratulated the Minister on being entrusted with the responsibility of the Ministry of Industries for the second consecutive term. He said that BCI, as the only national chamber of industries in Bangladesh, is working tirelessly to remove all obstacles to the development of all local industries.

He said that the country’s industrial sector is going through a critical time. No industrial establishment in the country is able to operate at its full capacity, sales of all establishments have dropped due to high inflation, gas pressure is low, and high interest rates on loans have put the domestic industry in a difficult situation.

He said that the prices of electricity and gas were increased on the assurance of uninterrupted fuel supply and on the pretext of rising international market prices. However, the prices of fuel in the international market have now come down a lot, but it is heard that the prices of electricity and gas will be increased again. He said that a sustainable solution to the fuel problem is urgently needed and if the industrial sector is given a clear long-term plan in the field of fuel, the industrial sector will also be able to move forward accordingly.

He said that BCI recently met with the Governor of Bangladesh Bank to discuss the problems of the country’s industries and to learn about the policies of Bangladesh Bank. He said that Bangladesh Bank is currently focusing on bringing down inflation to 6%. He said that Bangladesh Bank is using smart technology to keep the bank’s lending rate at a certain level. 

He also said that due to some policies of Bangladesh Bank, banks are being encouraged to invest in bonds. As a result, there will be a liquidity crisis in the banks. New investment will not come and the unemployment rate will increase. He said that it is very important to save the existing industries of the country now.

He said that the country’s industrial sector is suffering due to various policies of the National Board of Revenue (NBR). He said that doing business has become difficult due to new policies at different times. He requested the Minister to arrange a meeting with the Chairman of NBR.

BCI Senior Vice President said that the service industries in the country are still paying utility bills at commercial rates. He requested for necessary measures to make the utility bills at industrial rates.

The Minister listened to the speeches of the BCI directors patiently and said that he is aware of the condition of the country’s industries. He said that they want investment to increase in the country and employment to increase. He said that they are soon organizing a meeting with the Honorable Finance Minister, Governor of Bangladesh Bank, Chairman of NBR, Finance Secretary and representatives of the country’s business community where all parties will work together to ensure that the domestic industry survives.

BCI Senior Vice President Preeti Chakraborty, Vice President Mohammad Yunus, Directors Dr. Delwar Hossain Raja, Zia Haider Mithu, Mizanur Rahman, Nazmul Anwar, Sohana Rowf Chowdhury, Md. Selim Jahan, Md. Mahfuzur Rahman and Senior Secretary of the Ministry of Industries Zakia Sultana were present at the meeting.

At the end, the BCI President thanked the Minister and Senior Secretary for listening to everyone’s speeches patiently and for explaining various issues.