Businesses want an elected, stable govt: DCCI President Taskeen Ahmed 

Businesses in Bangladesh want an elected and politically stable government to restore investor confidence and ensure an environment conducive to growth, said Taskeen Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI), today (30 October). 

"Since the 2024 election, the business community has been passing through a period of uncertainty," Ahmed told TBS, noting that political instability has placed the economy under considerable pressure. "After the government and political parties reached an understanding over the election issue, we were somewhat hopeful. But the uncertainty has not yet ended."

He emphasised that businesses have long called for a timely election to bring political stability. "We have wanted the election to take place in February or as soon as possible. A government with a clear political mandate must be formed so that we can work comfortably. Without a political government, a stable environment cannot be achieved — even foreign investors hesitate to come," he said. 

Ahmed pointed out that while the government reports growth in reserves and highlights success in certain sectors, "we are witnessing an investment drought. There are no new investment proposals, and the market remains downward."

Citing Bangladesh Bank data, he noted that "private sector credit growth has turned negative. Imports of capital machinery have declined, and factories are not expanding. Many have even shut down in the past year. Although workers have lost jobs, we have not been able to create new employment."

He added that hundreds of entrepreneurs have defaulted on loans not because of poor business practices but due to rising dollar prices, LC restrictions, and capital shortfalls. "Many businesses are facing negative growth and nearing closure. Yet we see no real dialogue with the private sector," he said.

"This cannot continue. We want all uncertainties to end and a stable, elected government to be formed," Ahmed concluded.