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Business wants flag rule to go

'Economic disaster looms if ordinance not changed'

STAFF CORRESPONDENT
Top business leaders yesterday urged the government to amend or scrap the Bangladesh Flag (Protection) Ordinance, 1982 to immediately end the deadlock at Chittagong Port.
They said huge exportables have already piled up at the port, which would spell a serious economic disaster if the crisis had lingered further.
The call came at a joint press conference of four top chamber bodies and two leading exporters' associations at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) conference room.
The chamber bodies are the FBCCI, the Metropolitan Chamber of Commerce and Industry (MCCI), Chittagong Chamber of Commerce
and Industry (CCCI) and the Bangladesh Chamber of Industry (BCI).
The exporters' associations are the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).
The business leaders hoped that the government would make a swift decision to end the deadlock.
"We are continuously getting negative letters from our overseas clients following the suspension of operation by the major foreign feeder vessel operators and it may bring disaster to trade," said Yussuf Abdullah Haroon, president of the FBCCI.
He observed that it would be very difficult to bring back a buyer once
®he ^aSy ^tar
he had turned away.
He said the government may provide the local shipping industry various financial benefits like duty and tax breaks, soft loans and preferential berthing facility.
But it should not adopt any policy that hampers trade, Haroon said.
"The crisis is so acute that the foreign buyers are threatening to suspend business with us and close their offices," said Tapan Chowdhury, president of the MCCI.
He said buyers are not obliged to do business with Bangladesh. "The market is open and very competitive. So they can easily shift to other countries."
BGMEA President Quazi Moniruzzaman said, "Not only the garment sector, but the total exportimport business is at a great risk as well."
He said it is the buyers who choose the shipping lines for trans-
portation of goods and the exporters have hardly any say in the matter.
He informed the press that the buying houses have already stopped inspecting apparels ready for export because of the deadlock.
BKMEA President Monjurul Huq said the 'irrational' decision by the government has hampered the growth of the export sector.
Huq said the exporter would have to airlift goods at a huge cost unless the crisis was resolved immediately.
The government will have to think about the impact of the crisis because it is going to spoil $6billion worth of exports, said Amir Humayun Chowdhury, president of the CCCI.
"The whole nation is going to suffer because of the protection to a few companies," said AK Azad, president of the BCI.