E-commerce sector lost Tk 1,700 crore for internet shutdown, violence: e-CAB

The e-Commerce Association of Bangladesh (e-CAB) has sought urgent government assistance, as the sector had suffered a loss of approximately Tk 1,700 crore in 13 days of July due to internet shutdown amid violence centering the government job quota reform protest.

The e-commerce business got closed completely amid the internet shutdown, said Shomi Kaiser, president of the e-CAB.

Internet services have partially restored, but the sector is still struggling due to the very slow internet speeds, she said.

Kaiser made the comments at a press conference at the association's office in Dhaka on July 31.

She said about 95 percent of the e-commerce transactions remained suspended in those 13 days due to various factors, including countrywide curfew and security concerns.

The e-CAB has taken an initiative to conduct a survey to assess the full extent of the damage.

The association presented a set of demands and suggestions aimed at mitigating the crisis.

Key demands included extension of bank loan repayment periods by at least six months for affected entrepreneurs, provision of loans on easier terms, temporary waivers on VAT for logistics and digital marketing, waivers and extensions for trade licence renewal fees, government intervention to negotiate refunds or re-advertisement options for active ads on Facebook during internet shutdown.