Formulating long-term crisis management framework for energy security, leaving the exchange rates and interest rates to the markets and engaging with private sector stakeholders in policy-making to avert shocks of a looming global recession were amongst the steps suggested by the business leaders to the Bangladesh Government even as they added next few months will be very crucial as growing instability in the financial sector and deepening energy insecurity amid the ongoing liquidity crunch may erode the success businesses managed to achieve over the years.
They came up with the observations at a discussion organised one of prominent daily newspapers in the country.
Taking part in the same, Managing Director of Ananta Group Sharif Zahir said the garment exporters were facing order shortages and this trend will continue in the coming days as large buyers such as Walmart has not been to clear their stock yet amid the global recession even as he underlined there are opportunities in the long run as orders were shifting from China to Bangladesh due to political issues and emphasised enhancing the capacity to grab those orders while former President of the Dhaka Chambers of Commerce and Industries (DCCI) Shams Mahmud on his part opined the outlook for the economy looked less rosy for this year because export orders will decline as Europe and America are headed for an economic recession even as he urged the Government to make a long-term plan to deal with the upcoming economic challenges whereas Managing Director of DBL Group MA Jabbar observed the Government should prepare itself instead of waiting for what comes from the global crisis.