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Streets shouldn't be places for political showdowns: DCCI

UNB, Dhaka
Amid apprehensions about stormy politics in the coming months, a leading trade body yesterday urged both the ruling and opposition parties to come up with peaceful political programmes to keep the economy unhurt.
“We're ready to take any step to help all the political parties reach a consensus. We're really committed," M Sabur Khan, president of Dhaka Chamber of Commerce and Industry, told reporters.
"We hope the political parties will set an example showing respect to each other and launching tolerable political program-mes," Khan said at a press conference.
According to Khan, directors are writing to him for taking an initiative as the overall political scenario is not favourable for business. "Politics and economy are complementary to each other. Political stability is a must for balanced development.”
Opposing hartal as a means of realising political demand, the newly elected president said hartal causes economic losses of about $200 million a day, and thanked the political parties for holding peaceful programmes in the recent days.
"Streets shouldn’t be the places for political showdowns and demonstrations. There should be a specific place for that type of programmes to keep the normal life and business activities unhurt,” Khan said.
The private sector thinks all the political parties will demonstrate tolerance in the greater interest of the country and the parties will help maintain continuation of national development projects, said Khan, also chairman of Daffodil International University and Daffodil Group.
Describing the overall scenario of the national economy, the DCCI chief said achieving the projected 7.2 percent economic growth in the current fiscal would be very challenging.
“The foreign investment scenario isn't satisfactory. Growth in the industrial and service sectors might slow down for lack of required utility services and slower internal and external demand,” Khan said.
On the hike in fuel prices, he said production cost has been rising because
of this, and as a result Bangladesh products are facing stiff challenges in the global market.
Khan urged the government to provide and gas and electricity to the newly estab -lished industrial units to expedite the economy. “Although the scenario (electricity) has improved new industrial units are yet to get electricity connections.”
Khan also talked about the increasing cost of doing business and high bank interest rates, and urged the central bank to withdraw the illogical service charges imposed on cheque clearing.
About the capital market, he said investment would have to be encouraged in the share market at any cost to keep it vibrant. “Slashing interest on bank deposit, people may feel encouraged to invest in the capital market to have better returns.”