Eid sales will drop drastically if shops close at 8pm: BCI

The Bangladesh Chamber of Industries (BCI) today urged the government to review its decision to close stores at 8pm as businesses will incur losses if the shops are closed so early ahead of the Eid-ul-Azha.

"If the decision is implemented before Eid-ul-Azha, the small and medium businesses will suffer the most," said Anwar-ul-Alam Chowdhury, president of the BCI.

Closing shops at 8pm is not an effective way for saving energy, rather the government should focus on proper management of resources to reduce its wastage, he said.

The government can reduce wastage of resources by easing traffic jams, cutting excessive use of water, electricity and gas at marriage ceremonies, households, offices and mosques, Chowdhury said.

People normally return home from office at around 8-9 pm because of traffic congestions on the roads, he said.

"So how can these people shop if the markets are closed at 8 pm? The government should rethink here."

He made the comments while presenting the chamber's budget reactions at the BCI office in the capital.

Around 60 per cent of the annual sales take place during Eid-ul-Fitr, around 20 per cent during Eid-ul-Azha and 20 per cent the rest of the year, said Chowdhury, also the chairman and managing director of Evince Group.

Thanks to Covid-19 pandemic, huge fall in sales was experienced in at least five Eid festivals, the biggest selling seasons for businesses, he said.

The traders may miss the next Eid sales also if the shop closure decision is implemented during the upcoming festival, he said.

Among others, Mostofa Azad Chowdhury, senior vice president of the Federation of Bangladesh Chambers of Commerce and Industry, and Md Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry, also spoke.