In a recent meeting chaired by Md. Anwar Hossain, Administrator of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), business leaders in Bangladesh voiced strong opposition to new regulations issued by Bangladesh Bank concerning non-performing loans (NPLs). They described these rules as detrimental to the private sector, warning that they could significantly impact investment, disrupt employment, and destabilise the country’s macroeconomic environment.
The discussion highlighted various challenges facing industries, particularly the garment sector, which is already grappling with issues such as industry insecurity, gas shortages, and increasing difficulties with banking institutions. Business leaders expressed concern that the implementation of the new NPL policy in April could have catastrophic effects on the ready-made garment sector. To better understand the implications of these regulations, they agreed to conduct sector-specific studies.
In addition to the economic concerns, the meeting condemned a recent attack on the Deputy Managing Director of Mahmud Jeans Factory. Attendees warned that such incidents could foster a climate of fear, deterring entrepreneurs from operating their businesses. They cautioned that continued violence would pose serious threats to the country’s trade, commerce, and investment landscape.
Notable figures in attendance included Tapan Chowdhury, Former Caretaker Government Advisor and Managing Director of Square Pharmaceuticals; FBCCI Administrator Md Hafizur Rahman; BEF President Ardashir Kabir; BKMEA President Mohammad Hatem; BTMA President Shawkat Aziz Russell; BCI President Anwar-ul Alam Chowdhury (Parvez); and MCCI President Kamran Tanvirur Rahman, among others.
