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Businesses worried at law and order slide

Energy crisis hampering business, they say; minister pledges steps

Staff Correspondent
Business leaders yesterday expressed serious concern about the deteriorated law and order situation and energy crisis because of which, they said, they can hardly run businesses smoothly.
Admitting the situation, Finance Minister AMA Muhith said the government would take steps to improve law and order and prepare a detailed energy crisis mitigation plan before the budget session.
"Solution to the energy problem is my first priority and improving law and order is the second," Muhith said at the 30th budget consultative meeting at Dhaka Sheraton Hotel.
Muhith also gave hints about allowing legalisation of undisclosed money only in the form of investment in at least six sectors—garment, shoe, toy. medicine, cement and poultry.
"The necessity of these industries will always prevail in our everyday life. So, we are considering if opportunity could be given for
investment of undisclosed money in these sectors," he said.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the National Board of Revenue jointly organised the meeting to seek opinions of business leaders on the national budget for 2009-10 fiscal year.
Salman F Rahman, the private sector affairs adviser to ruling Awami League President Sheikh Hasina, said energy crisis and deteriorated law and order are really serious issues for businesses. "The government should take these seriously. Extortion is continuing both silently and openly. A businessman was killed in broad daylight," he said.
FBCCI President Annisul Huq, who presided over the meeting, also said the energy and law and order situation must be improved for smooth running of businesses.
At the meeting businessmen from across the country urged the government to address the two issues immediately.
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Muhith said the government would give businessmen a separate plan on power before placing the budget speech in parliament.
Generation of power is not the main problem: the real problem lies in the transmission system of power, the minister said. He, however, said for mitigating the power crisis the government would set up dual-fuel plants and coal-fired power plants even if it requires importing coal.
"I do not know if it is possible to extract coal within next three years, but we will not wait. We will set up coal-fired power plants, even import coal," Muhith said.
Muhith will place the budget speech in parliament on June 11.
He said at present only four crore of seven crore employable people have jobs. "The government will emphasise the small and medium enterprises [SMEs) and rural economy for reducing the huge unemployment," he said.
He said it is not possible to offer job to at least one member of every family next year, but it could be possible within the next five years.
The finance minister said it might not be possible to attain six percent GDP growth next year, but it is possible to attain 8 percent growth before handing over power after expiry of the tenure of this government.