Attacks on businesses must be prevented
We are deeply concerned about the severe and still-unrelenting disruptions faced by business establishments after the fall of the Awami League government. Business leaders have also expressed their concerns about the impact of these disruptions caused mostly by attacks on factories but also rising extortion, logistical bottlenecks, etc. It is only reasonable to think that if these challenges persist and business leaders are not given the support they need to weather this crisis, it will significantly hurt their operational capabilities as well as the prospects of our export-driven economy.
Our top priority, then, should be restoring law and order and protecting all industrial establishments, regardless of the identity of their owners. A recent report by this daily highlighted the extensive damage caused by politically motivated attacks on businesses from August 4 to 27, saying that nearly three dozen industrial units were targeted during this period. Most of them were owned or controlled by individuals with ties to Awami League. These attacks, invariably followed by looting and vandalism, have led to significant financial losses.
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Among the hardest hit was the Gazi Group, owned by former textile and jute minister Golam Dastagir Gazi. Two of its factories in Narayanganj—Gazi Pipe and Gazi Auto Tyres—have been left in ruins following repeated attacks, with the latter estimating a loss of Tk 1,000 crore alone. About 2,650 officers and employees of this unit have also become unemployed. The Bengal Group of Industries also suffered heavy losses, with several of its factories in Gazipur being damaged by arson, vandalism, and looting. Its estimated losses amounted to around Tk 462 crore. Among other well-known factories affected were those of the Beximco Group, owned by Salman F Rahman, and the Ha-Meem Group.
Such examples reportedly abound, taking place across various industries and even in warehouses, although we are yet to know the full extent of such attacks or the damages caused. One thing is clear, however. The unprecedented scale of industrial attacks will have a debilitating impact not just on the workers and officers employed by factories but also their respective markets, potentially resulting in a crisis that may shoot up prices of relevant products.
Against this backdrop, increasing security is paramount. For the country to move ahead and businesses to flourish again, there is no alternative to taking strict actions, and we hope the law enforcement authorities will do just that. Business leaders also need help to recoup their losses which they have already detailed, including favourable import terms, continuation of the export development fund, removal of barriers in consignment release and transportation, etc. The BGMEA also requested a soft loan of Tk 1,800-1,900 crore to pay one month's wages for the workers, which too deserves consideration. These financial, logistical and policy supports are essential to bring businesses on the path of recovery.
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