The country's economy is already under considerable pressure because of the dollar crisis, reduction of foreign currency reserve and the price hike of daily commodities. And, there’s no doubt the violence that erupted centering the quota reform movement of the students, the curfew and stern action like shutting off the internet service has pushed the economy towards dire staits.
The business community believes Bangladesh has incurred huge losses due to the export-oriented factories remaining closed. Garments industries owners’ association BGMEA president Abdul Mannan said that there has been financial loss of about 110 billion (11,000 crore) taka in the few days of stand still. Out of this, BGMEA has incurred a loss of Tk 64 billion (6,400 crore) in direct export.
According to knitwear industries owners’ association BKMEA executive president Mohammad Hatem, if the factory remains closed even for a day the financial loss incurred is 160 million (16 crore) dollars which amounts to 17.28 billion (1,728 crore) in Bangladeshi taka.
Policy Research Institute’s executive director Ahsan H Mansur said that the economy has suffered a loss of more than Tk 840 million (84,000 crore) in the past one week.
There has been a daily loss of almost Tk 120 billion (12,000 crore) in the ongoing stagnation. It might be possible to measure the economic loss in terms of money but there’s no scale to measure the damage done to country’s image.
International transactions of the banks in the country is completely dependent on internet. Since the internet was down, communication with the foreign banks as well as with the buyers and the sellers was totally closed.
The internet service has been reactivated on limited scale since Wednesday. The industries have restarted production. Meanwhile, the banks, government and private offices also remained open for a limited period in the last two days.
Users submitted 7,819 export and import consignment documents online for taxation at Chattogram Customs House this Wednesday. The clearance of goods from the port has also resumed in full swing.
But, when the government is considering that everything has become normal, why delay in reopening everything? On one hand, policy makers of the government are saying that the students are not involved in the violence and destruction caused centering the quota reform movement, on the other hand, cases are being filed one after another against unknown number of protesters.
This is clearly a self-contradictory stand. Already, allegations have been found about several leaders of the quota reform movement being picked up from their homes and being tortured. These need to be investigated properly.
There has been extensive loss to the economy of the country. More than 200 people have been killed centering an apolitical issue like quota reform. Many have been crippled or lost their vision for good. This loss cannot be allowed to increase any further. Let the government take legal action against those who destroyed property based on investigation. But, no innocent people can be harassed.
To restore normalcy in public life, ensure a fear-free environment alongside security and democratic rights of all citizens.