Economists cite six reasons to oppose leasing Ctg Port facilities to foreign firms, call for national resistance

Economist professor MM Akash today (4 January) laid out six reasons for opposing the leasing of Chattogram Port facilities to foreign companies, arguing that the proposed move risks national interest and should be resisted through a broad-based national movement.

He made the remarks at a discussion organised by the Chattogram district unit of the Sramik-Karmachari Oikya Parishad (SKOP) at the Chattogram Press Club.

Prof Akash said the first concern is strategic and geopolitical. "Chattogram Port is a key national asset. Decisions over its control cannot be treated as routine commercial arrangements."

He questioned why facilities are being handed over to foreign operators despite the country having domestic capacity to manage the port. "If we have the capability, why surrender control to outsiders?" he asked.

The economist pointed to the track record of DP World, the company reportedly being considered for the lease, saying its performance in other countries has raised serious questions.

The fourth issue, he said, is the lack of alignment with Bangladesh's overall cargo and port management plans. Leasing out facilities for 40 years without a comprehensive, long-term strategy that considers the development of other ports could weaken Chattogram Port instead of strengthening it.

Fifth, prof Akash warned about compliance risks. "If the operator violates the contract midway, which is not uncommon, do we really have the legal and institutional leverage to hold them accountable?"

The sixth and final objection relates to governance and legitimacy.

He questioned why a 40-year contract involving a national asset would be signed without discussion in an elected parliament and why an unelected interim government would rush such a decision. "These issues together make it our duty to build a national movement to protect Chattogram Port," he added.

At the same event, economist Prof Anu Muhammad said domestic and foreign vested interests have long been conspiring to lease out the port. He traced the roots of the debate back to 1997, when an initiative was taken to lease the port to SS Company for 198 years.

"At that time, the US ambassador, the World Bank, the Asian Development Bank and several local consultancy firms all claimed leasing the port would benefit the country," he said. "But later in 1997, the High Court proved that SS Company was a fraudulent entity."

Anu Muhammad alleged that similar arguments are now being recycled. He said Laldiar Char and Pangaon have already been leased through what he described as secret agreements, while the process to lease the New Mooring Container Terminal is underway.

"Alarmingly, the same group that promoted false information in the past is once again claiming these initiatives are good for the country," he said, adding that there is no reason to trust their assurances when their claims were previously proven wrong.

He also criticised the repetition of old justifications used by the Ministry of Shipping, including arguments that fresh tenders are unnecessary because international agencies have already vetted the deals. "This shows how a global vested-interest network operates to exploit the resources of third-world countries like Bangladesh," he said.

Anu Muhammad further argued that after the announcement of the election schedule, the government has no moral authority to take strategic decisions or sign long-term contracts involving critical national assets.

The meeting was chaired by Kazi Sheikh Nurullah Bahar, general secretary of the Chattogram divisional unit of the Jatiyatabadi Sramik Dal. Other speakers included former CPB president Mohammad Shah Alam, TUIC Chattogram district president Tapan Dutta, Sramik Dal divisional president AM Nazim Uddin, and labour leaders Khorshedul Alam, Rabiul Haque Shimul, Al Qaderi Joy, Zahid Uddin Shahin, Ibrahim Khokon and Taslim Hossain Selim.