Business leaders have called on the government to take immediate action to improve law and order and ensure a stable energy supply, addressing key challenges faced by businesses.

They also emphasised the need for urgent reforms, including automating and streamlining revenue management, reducing business costs, and implementing supportive trade policies to maintain economic stability.

These remarks were made during the business conference titled ‘Private Sector Outlook: Expectations and Priorities,’ organised by the Dhaka Chamber of Commerce and Industry at a hotel in Dhaka on Saturday.

Selim RF Hussain, President of the Association of Bankers, Bangladesh, urged the government to improve law and order and take measures beyond contractionary monetary policies to control inflation.

‘We need to bring discipline to the banking sector while also eliminating crony capitalism from the country,’ he stated.

Selim also called for a comprehensive overhaul of the existing legal system.

Abdul Muktadir, Chairman of Incepta Pharmaceuticals, emphasised the need to expedite the election of trade bodies, asserting that elected bodies would be better positioned to coordinate effectively with the government.

‘There should be a clear roadmap with a specific time frame for improving law and order,’ he said.

DCCI president Ashraf Ahmed called for gradual reductions in policy interest rates, ensuring low-cost credit for CMSMEs, and automating business processes.

‘Uninterrupted gas and electricity supply is mandatory to remain competitive internationally, and improving law and order must be a priority,’ he said.

Finance adviser Salehuddin Ahmed highlighted pervasive corruption in the economic sector over the past 15 years, terming it unimaginable.

‘Customers’ deposits have been taken away from banks — a rare example in Bangladesh. The interim government is continuing its efforts to make up it, though it may take some time,’ he said.

Mohammad Hatem, president of Bangladesh Knitwear Manufacturers and Exporters Association, called for a zero-tolerance policy to tackle the law and order situation.

He suggested postponing the country’s graduation from the least developed country list, arguing that the decision to graduating was based on inaccurate data.

‘We are now struggling to survive,’ he said, pointing to declining imports and reduced value addition in manufacturing.

Commerce adviser Sheikh Bashiruddin, however, called for better coordination between the government and the private sector to improve the law and order situation.

Addressing trade policies, he said, ‘There is no alternative to increasing our capacity to expand our trade in the international market.’

He emphasised liberalising trade and increasing government spending to ensure social justice while focusing on tax collection to improve living standards.

PRAN-RFL Group chairman Ahsan Khan Chowdhury stressed improving law and order — a key to business development.

He noted that disruption in opening letters of credit were harming production and employment.

Ahsan Khan further said that it was necessary to reduce the interest rate on loans considering the existing situation.

‘Opening LC’s are important for business, as well as economic development. And if interest rates are increased further, business would face immense loss,’ he said.

Showkat Aziz Russell, president of Bangladesh Textile Mills Association, identified industrial waste management and corruption as significant challenges for businesses.

He called for reducing dependency on expensive imported gas, adding that it reduces business capacity.

Zaved Akhtar, president of the Foreign Investors’ Chamber of Commerce and Industries, highlighted the importance of credibility, continuity, and capacity in attracting foreign investment.

He said, ‘Considering the current situation regarding LDC graduation, we must take decisions based on our capabilities.’