Traders seek easier import policy, loan facilities

Top business leaders in Chattogram have demanded a business-friendly environment and simplified trade policies to revitalise the country’s stagnant economy following the BNP’s landslide victory in the 13th national parliamentary election.

The government, led by Prime Minister Tarique Rahman, began its new journey after the change in power. To breathe life into the private sector, the port city’s entrepreneurs urged the administration to reduce bureaucratic red tape and enhance loan facilities.

Mohammed Akthar Parvez, director of PHP Group, said the new government must follow the “Ease of Doing Business” index to transform the environment. He noted that the new finance minister has already initiated plans to adopt this method.

Almas Shimul, additional managing director of GPH Ispat, stressed that the government must reform the banking sector and simplify import policies to trigger an investment surge. He suggested easing loan conditions to create a conducive environment for investors.

Mohammad Mohiuddin, law secretary of the Khatunganj Trade and Industries Association, highlighted the need to bring LC margins to a tolerable level. He also urged the government to take effective steps to stabilise the dollar market.

Local businesses claimed that the previous interim government’s policies caused economic stagnation and shut down numerous factories. To overcome this, they requested lower interest rates and special incentives for small and medium enterprises (SMEs).

The entrepreneurs also demanded uninterrupted gas and electricity supplies at lower prices, noting that high energy costs and shortages have crippled production. Furthermore, they called for a harassment-free tax and VAT collection system alongside comprehensive customs reforms to ensure policy consistency.