'Suicidal' move: Chattogram intellectuals criticise rapid foreign takeover of key terminals

A coalition of prominent academics, writers, and former civil servants has expressed serious concerns over transferring Bangladesh's major port facilities to foreign companies under the interim government, warning it could compromise national interests and expose the country to long-term financial and strategic risks.

In a joint statement today (20 November), the group described agreements with Denmark-based APM Terminals and Switzerland's Medlog SA as "suicidal," citing a lack of transparency and public scrutiny. They argued that contracts of this magnitude should only be executed by an elected government with a clear mandate.

Last week, Chattogram Port signed a 33-year concession with APM Terminals to develop and operate a terminal at Laldiar Char, with an option to extend for 15 years, while Medlog SA was handed the 22-year operation of Pangaon Inland Container Terminal in Keraniganj. The statement criticised the unusually rapid timeline: the World Bank's IFC had recommended 62 days for finalisation, but the port authority completed it in two weeks, raising doubts about whether national interests were protected.

Citing global examples such as the 2004 Djibouti-DP World port deal—which collapsed and forced costly arbitration—the coalition warned of potential disputes from poorly negotiated long-term contracts. They also criticised the lack of disclosure on termination clauses, compensation formulas, and other financial obligations for state-owned assets. Profitable terminals, such as the New Mooring Container Terminal operated efficiently by the Bangladesh Navy, are being handed over despite no major new investment being required.

The group further warned that giving foreign companies control over major terminals, including Chittagong Container Terminal and the General Cargo Berth, could marginalise domestic operators, leaving Bangladesh dependent on external entities. 

Without local operators, the country risks losing the ability to regulate rates, ensure service continuity during crises, and safeguard strategic trade routes. "If everything slips into foreign hands, the nation risks becoming hostage to external operators," the statement said.

The coalition urged the cancellation of both agreements and called on citizens to safeguard national interests. The statement was signed by poet and journalist Abul Momen, Dr Moinul Islam, Ferdous Ara Alim, Shishir Dutta, Bishwajit Chowdhury, Omar Qaisar, Kamrul Hasan Badol, Kamal Sengupta, Alok Roy, and Delwar Mazumder.