Despite RMG concerns, businessmen mostly at ease under interim govt: Square CEO

Tapan Chowdhury, CEO of Square Group and former adviser to a caretaker government, has said despite the instability in the garment sector, businessmen are feeling much more at ease under the interim government compared to the previous government's over 15-year period.

"We feel quite comfortable now. A significant change has taken place and we are witnessing major transformations in government offices. Previously, the environment was so dire that no one could speak out," he said addressing the "Tapan Chowdhury Conversation with ERF Members" at the Economic Reporters Forum (ERF) today (9 October).

The businessman also said that the country should be governed by political parties and urged the interim government to provide an election roadmap as soon as possible.

ERF President Refayet Ullah Mirdha presided over the event while the organisation's General Secretary Abul Kashem moderated the event, held at the ERF auditorium.

Referring to the RMG unrest, Tapan said, "Due to the unstable conditions in our country's apparel sector, many buyers are shifting to Sri Lanka. They previously sourced garments from there, but because of the instability in Sri Lanka, they turned to us. Now, with our current instability, they are returning there."

Expressing hopes for stability, he said that while the situation still remains volatile, gradual changes are occurring as the government has taken some measures. 

"External actors often contribute to the destabilisation of this sector and it is also politicised domestically. We must address this for the country's sake, as around 45 lakh workers, mostly women, are directly employed," the businessman said.

Regarding the revenue authority, Tapan said, "The current NBR chairman has a very positive approach and is engaging with stakeholders regularly. The same goes for the Ministry of Commerce. Hence, we are optimistic about the future."

In response to a journalist's question, the businessman said, "I do not think that there is a need for business representatives on the interim government's advisory council. Traders tend to lobby for their own interests. Currently, no council members are businessmen, which allows for equitable benefits across all sectors."

Regarding major business groups like S Alam and Beximco that have engaged in unethical practices, the Square CEO said, "The government is taking action against those involved in such practices, based on evidence."

"There is a societal tendency to expect overnight success in business. We need to move past that mentality and conduct business ethically to achieve our goals. Many successful businessmen who did not follow ethical practices have ultimately faced failure," he added.