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Run business without fear

PM tells businesspeople, pledges to restore their confidence

Staff Correspondent
Prime Minister Sheikh Hasina yesterday said her government will do what it takes to bring back confidence among the businessmen who were harassed during the last caretaker government's tenure.
Businessmen were in panic during the two-year rule. Many of them turned away from business while some went into hiding, Hasina said at the inauguration of the 17th Dhaka International Trade Fair at Bangabandhu International Conference Centre in the capital.
“We will bring back confidence among the businessmen so that they can run their businesses without any fear.”
Hasina stressed the need for diversifying export items and exploring new markets. She also advised the businessmen not to depend heavily on certain products or markets.
She urged the private sector and government agencies to do more research to develop products that have huge demand
on the global market.
The prime minister said her government is ready to give all-out support to businessmen to face all financial challenges in the future.
Hasina promised entrepreneurs a business-friendly environment and urged them to manufacture a variety of products to meet the domestic and global demand. Bangladesh got foreign direct investment of $266 crore over the last three years, she added.
On recent fuel price hikes, Hasina said the government has been providing huge subsidies on petroleum products to increase power production. Fuel prices were increased to ease the government's subsidy burden, she said.
Hasina said her govern-
ment added 2,900 megawatt of electricity to the national grid over the last three years. The government signed 49 agreements to ease power crisis and 24 new power plants went into operation during the period.
The government will soon introduce coal-fired power plants to cater to the growing electricity demand, said the prime minister.
Commerce Minister GM Quader said some new industries such as shipbuilding and furniture have been performing well in terms of export over the last fewyears.
Bangladesh was one of the 12 countries that saw positive export growth in last fiscal year when the whole world was going through a financial meltdown, he said.
Bangladesh exported 750
types of products to 188 countries during the period, he said.
Commerce Secretary Ghulam Hussain said some export-oriented products might face problems any time to enter foreign markets. “So, the businessmen should diversify products and find newmarkets.”
AK Azad, president of Federation of Bangladesh Chambers of Commerce and Industry, said the government should reduce borrowing from banks, otherwise it will create a liquidity crisis in the private sector.
He also acknowledged the government's success in power production, revenue collection, and education and agriculture sectors.
“But the government should introduce coalbased power plants, and
improve the Dhaka-Chittagong highway and the condition of ports."
Abul Kashem, chairman of parliamentary standing committee on commerce ministry, and Subhashish Bose, vice-chairman of the Export Promotion Bureau (EPB).also spoke.
A total of 47 foreign companies from 12 countries are participating in the month-long trade fair with 506 stalls and pavilions at Sher-e-Bangla Nagar in the capital.
Products and services from home and abroad will be showcased at the fair organised by the EPB and the commerce ministry.
It will remain open from 10:00am to 10:00pm every day. The entry fee per head is Tk20 for adults andTk 10 for children.