Rising cost of doing business bothers entrepreneurs

BUSINESSPEOPLE said that the cost of doing business in Bangladesh is going up due to inadequate or dilapidated infrastructure, shortage of electricity and gas, and unbridled extortion. Despite the backdrop, resilience of local entrepreneurs helps the country make strides. Inadequate infrastructure put a dent on the efforts to enhance competitiveness and facilitate the economy to grow faster.
The government, though, is doing a lot to generate electricity and gas supply but for an average 6.5 percent GDP growth, the shortage of the basic amenities is still a big obstacle. And the non-existence of rule of law influences the local goons to extort entrepreneurs that increase the cost of business.
According to news in a national daily, local entrepreneurs said that the country has tremendous possibilities to grow much faster but shortage of gas supply and poor road communications are affecting businesses the most. For the desired speedy growth the government should improve gas supply and road infrastructure. There are many external difficulties such as unwanted demands from vested interests. There is hardly any factory or establishment that does not suffer from local influence. Extortion was there before. It is there now and is increasing. A strict enforcement of law could effectively resist the vested quarter of people.
The businesspeople said that they are prepared to face challenges. In Bangladesh, entrepreneurs are definitely very determined and they will overcome the obstacles if the government expedites the completion of the ongoing projects like four-lane Dhaka-Chittagong Highways, Padma Bridge, Metro Rail, Elevated Express Way, sufficiency in electricity and one stop service for business. Apart from these, the government must enforce the law more severely and provide more security to businesspeople and institutions. Traffic jam is also increasing the cost of business. Time is also money. It increases the cost. So it is very difficult to compete.
A government of talks and deeds is no good for dealing with the needs of the people. We want our government not be too eager to please the government officials. The government and the government officials are maintained for serving the people. After accomplishing the big projects, the infrastructure crisis and traffic congestion may be solved, thus the project completion should be accelerated. To stop extortion, restoration of the rule of law, end of impunity and accountability of politicians along with bureaucrats could be remedial. All the tasks primarily rest on none but the government and its officials.