BB governor urges revival of 200 shuttered Chattogram industries

Bangladesh Bank Governor Md Mostaqur Rahman has called for reviving nearly 200 closed or struggling industrial units in the Chattogram region, saying their reopening could create around ten lakh jobs and support sustainable economic growth.

Speaking at a meeting on employment generation at Bangladesh Bank's Chattogram office today (6 August), the governor urged coordinated efforts to revive idle factories and unlock the region's industrial potential.

A concept paper presented at the meeting said about 200 industrial units have either shut down or are on the verge of closure, leaving nearly 5,00,000 workers unemployed and contributing to around Tk1 lakh crore in defaulted and non-performing loans.

Reopening the factories could create roughly ten lakh jobs, boost production and improve the banking sector's health, the paper said. It identified energy shortages, limited access to long-term financing and a shortage of skilled operators as the main obstacles to revival.

The paper also recommended resolving legal disputes, putting idle industrial land to productive use and providing policy support from the central bank.

Mostaqur Rahman called for expanded credit to small and medium enterprises and the rural economy, implementation of the One Village One Product (OVOP) initiative, and easier long-term financing for the blue economy, marine resources, the IT sector and man-made fibre industries.

He also stressed sending skilled workers abroad based on labour market demand, strengthening Probashi Kallyan Bank, and expanding Bangla QR and other digital payment initiatives to promote cashless transactions and financial inclusion.

The governor further said there would be no political interference in the banking sector and instructed inspectors to recommend the highest possible penalties where serious irregularities are found.

Deputy Governor Md Kabir Ahmed also attended the meeting, which was chaired by Executive Director Md Hanif Mia.