Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem on Saturday blamed the current business policy for the stagnation of both domestic and foreign investments.

He called on the interim government to engage in discussions with business leaders and stakeholders to formulate policies aimed at boosting investment, fostering industrial growth, and creating more employment opportunities.

He made the remarks at the Bangladesh Labour Rights Journalists’ Forum (BLRJF)’s annual general meeting in the capital.

Mohammad Hatem also said that most businessmen want their workers to get fair wages. This will help increase production and industry growth.

‘But international brands and buyers talk about only trade union. If they don’t pay fair and ethical prices for Bangladeshi products, it is impossible to ensure the rights of workers,’ he added.

Hatem urged the Bangladesh Bank governor to consult with businesses and stakeholders before taking decisions on the country’s businesses.

The former government made wrong and fabricated data on the country’s export earnings, and based on that data, the planned LDC graduation status. However, it is not the right time to graduate from LDC status.

He said that it was illogical to increase gas and electricity prices without supplying enough gas and electricity to industrial units. In the last six months, the government has been unable to ensure a business-friendly environment.

Tannery Workers Union (TWU) general secretary Abdul Malek said that it is high time to fix the Tk 25,000 minimum wage for the workers, taking inflation into account.

‘There is huge potential of leather industry but systematically the industry has been destroyed. Once, a cow rawhide was sold at up to Tk 4000, but now we have to throw them in canals or bury underground. Proper government support can boost the industry,’ he added.

He criticised the unplanned tannery estate in Savar and sought media support for growing the industry and ensuring workers’ rights.

Mahmudul Hasan Khan, deputy director of programmes at the Bangladesh Labour Foundation, highlighted that good relations between industry owners and workers are crucial for growing the country’s industries.

‘If wage of workers is increased, production will also go up. It would boost the country’s economy,’ he also said.

BLRJF president Kazi Abdul Hannan presided over the AGM.