Business leaders concerned over referendum uncertainty, call for timely national election
They warned that political instability could further undermine investor confidence and slow job creation
Business leaders have expressed deep concern over the growing uncertainty surrounding the timing of the referendum on the implementation of the July Charter, as the country's major political parties remain divided on the issue.
This political divide has raised alarm among the business community, Bangladesh Chamber of Industries (BCI) President Anwar-ul Alam Chowdhury Parvez and Bangladesh Employers' Federation President Fazle Shamim Ehsan told The Business Standard today (29 October).
Earlier, the BNP termed the Consensus Commission's recommendation on July Charter implementation an attempt to create division and reiterated its long-standing stance that the referendum should be held on the same day as the national election.
Keep updated, follow The Business Standard's Google news channel
On the other hand, Jamaat-e-Islami leaders insist the referendum must take place by November, even if it requires postponing the national polls. The NCP similarly demanded that the referendum be held before the national election.
The business leaders warned that political instability could further undermine investor confidence and slow job creation, stressing that a timely national election is essential to restore business optimism.
Any complication related to the referendum or other political matters could cause serious harm to the economy, they warned.
Anwar-ul Alam said the next election should be held in February as planned, urging the government to resolve complications arising from the referendum issue and ensure the polls are conducted on schedule.
Even if polls are delayed, July Charter referendum must come first: Jamaat's Taher
"Businesspeople are waiting for an elected government. If the election is delayed, business confidence will erode further, which will severely hurt the economy, investment, and employment," he said.
Fazle Shamim Ehsan said those trying to obstruct the national election under various pretexts are "enemies of the country's economy and of the nation itself."
"If an elected government doesn't come to power, investors will hold back, and both the economy and the country will suffer," he warned.
He went on to say, "The economic situation is already deteriorating across all indicators. There's no investment, no job growth, and even visa restrictions from several countries. A quickly elected government is crucial, otherwise, these problems will only worsen."
