It would not however be proper to blame the political leadership alone for failure of the business conference in delivering its expected results. Did the business leaders, as opposed to the business community in general, sincerely desire a political settlement for saving the business community and the economy?

LAST week a national conference of businessmen was held In Dhaka. It was sponsored by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). the apex body of the business community of the country. The Conference had two sessions. In the first session, held on Jan.22. Sheikh Haslna, the Prime Minister of Bangladesh was the chief guest while in the second session, held on Jan. 24. the Chief Guest was Begum Khaleda Zia. the Leader of the Opposition and former prime minister of the country. That no technical session was held clearly reflected the special nature of the conference. It was not to discuss specific problems arising out of existing government policies affecting the country’s commerce and industry. The two top political leaders of the country were invited to the conference with a view to apprising them of the sufferings of the business community arising out of inadequacies of governance and* political programmes of the opposition.

In both the sessions, the top business leaders of the various chambers of commerce and industry of the country freely discussed the failures of the government in ensuring a business-friendly environment particularly in terms of providing security to Ilie and property, the pre-requisite for investment and growth In any economy. One business leader categori-

cally stated that due to growing incidence of hijacking of trucks on the national highways. it was no longer certain that the imported raw materials to be used for production purposes would reach the factory, and the exportable finished products destined for distant shores would reach the ports at all. The workers, after putting in hard labour for a month, while returning home with their salaries no longer felt assured that they would reach home safe with their money in tact. The speakers pointed out that it was impossible to conduct any kind of business in Bangladesh without paying extortion money, and failure or refusal to pay quite often resulted in loss of lives and damages to property. All these reflected total failure of the government in carrying out their prime responsibility i.e. ensuring protection to life and property, and providing a secure environment to pursue any kind of economic activity.

The opposition was also bitterly criticized for pursuing political programmes featuring frequent hartals which had a

crippling effect on the economy. It was mentioned that hartals not only caused immense sufferings to the people affecting their right to move freely, there was also considerable loss of x current and future output and employment as well, as hartals scared away potential investment. both domestic and foreign. It was stated that the business community was particularly hurt because, during hartals, even when productive activities remained suspended, the labour had to be paid their wages and interest had to be paid on borrowed funds. Frequent and prolonged hartals thus adversely affected the business community in particular besides causing severe damages to the economy and should, therefore, be avoided at all costs.

The whole purpose of the business conference was to impress upon the top leaders of the country the need for a negotiated settlement so that the opposition no longer felt compelled to'cAll for crippling hartals as the government addressed Issues raised by the opposition to its satisfaction.

Given the spectre of impending hartals, frequent and prolonged, in the wake of polarization of all forces opposed to the government, none can question the relevance of holding of a conference of this kind in protecting the interest of the business community in particular and the economy In general. The attempt however did not succeed, as It failed to coke appropriate responses from both the prime minister and the leader of the opposition. Sheikh Haslna expressed her willingness for talks, but the way she did so exposed her lack of sincerity as she wanted it to be broadcast and telecast as if she was going to participate in a public debate with Begum Zia who on the other hand Just brushed it aside stating that the initiative came too late, and also because, while she was in power, when Sheikh Hasina. then in opposition, waged relentless war against her elected government by calling 173 days of hartal including blockade of Chittagong port, the life inaeTfl1 the economy, the business leaders did not come forward with a similar move.

It would not however be proper to blame the political leadership alone for failure of the business conference in delivering its expected results. Did the business leaders, as opposed to the business community In general, sincerely desire a political settlement for saving the business community and the economy? An analysis of their role in the past sheds serious doubts in this regard.

For enforcing nation-wide hartals, and also for resisting them on the streets, both the opposition and the government require huge resources which come primarily from big business houses (unless funded by foreign governments/agencies) either through contributions made to the opposition as investment to be recouped when the opposition returns to power, or through sharing of booty with the government made out of big commercial deals struck bypassing transparent standard procedures. By providing, resources this way to both the opposition and the government to finance their respective political programmes, be it na-tlon-wide hartals, or resisting

the same through mobilization of necessary muscle power, the business leaders essentially encourage the political leaders to go the way they like unre-strained, and in the process cement their mutual Bondage of serving each other's Interests when in power often at the cost of the nation. The political leaders are therefore observed to take little cognizance of the public utterances of business leaders made often to shed crocodile tears for those whom they represent.

Until and unless the business community elect such leaders representing their genuine interests, as would place the community and national Interests above their personal ones, and avoid forging any kind of alliances with political leaders whether In power or In opposition with a view to making personal gains by channeling resources to finance their respective political programmes whether for resisting or for enforcing nation-wide hartals through use of muscle power either to hang on to power or to acquire it, such business conferences are destined to fail in achieving their objectives in compelling the political leaders to listen to them and tp redress their, grievances.

The author Is Professor of Economics . Jahangirnagar University