The country’s economy is in shambles. The condition of industry, business and trade is appalling. Investment is stagnant. Factories are closing down one after another. New employment is not being created. Lakhs of workers have already lost their jobs.
According to media reports, businessmen and industrialists are living in extreme anxiety due to various reasons, including gas and electricity crisis, high interest rates on loans, and deterioration of law and order. Meanwhile, as the election time approaches, divisions between the country’s major political parties or other forces are growing.
There are indications that opposing positions will take to the streets or show their strength. As a result, uncertainty is being created about the election, and there are fears that the political arena will become heated again. Hence, businessmen and industrialists are becoming more anxious.
Economists believe that the country’s economy is now in a multifaceted crisis due to political uncertainty, high inflation, and slow revenue collection. Meanwhile, many promising industries are unable to turn around financially, and a lot of established houses are not interested in new investments. At a time this political instability can pose a major threat to the country’s economy.
Four Islamic parties, including Jamaat-e-Islami, have announced their agitation programme with five demands, including the introduction of PR system in the next election, banning the activities of the Jatiya Party and 14 parties, and holding elections including the National Parliament based on the July National Charter. The other parties, Islami Andolan Bangladesh, Khilafat Majlis and Bangladesh Khilafat Majlis, announced their programmes separately.
On the other hand, BNP and like-minded parties have objections to some of these demands. On Monday, BNP Senior Joint Secretary General Ruhul Kabir Bijvi said that an Islamic party is talking about a vigorous movement for the proportional representation (PR) system. “This is a well-planned master plan that will not bring welfare to anyone”.
Most of the country’s economic indicators are now on a downward trend. Private sector credit growth is at its lowest point. Imports of capital equipment have also collapsed. In such a situation, political uncertainty will bring dire consequences for the country’s economy. Politics is for the welfare of people, not to endanger them.
We hope that the leaders of political parties will show tolerance. It will play an effective role in restoring political and economic stability in the country through holding free and fair elections.
