Businessmen waiting for elected government

As time goes on, the demand for an elected government is becoming stronger. The business and entrepreneurial community is waiting for a political government. In the current situation, they are in extreme uncertainty, anxiety, and concern. As a result, new initiatives and investment activities are almost stagnant.

Recently, the International Monetary Fund (IMF) has clearly stated that it will not release the next sixth installment of 4.7 billion dollars until an elected government takes office. On the other hand, both domestic and foreign investors are saying in one voice, “New investment is risky without an elected government.” As a result, the economy has fallen into a kind of “circle of waiting.” Businessmen, investors, and development partners are all in expectation of a political mandate and policy stability.

Economists and entrepreneurs think that because there is no elected government, the IMF installment has been suspended. Investors are waiting, and the economy is stagnant. They believe that once confidence returns, capital, employment, and growth will revive. They say, “The economy stands on political confidence. The responsibility to rebuild that confidence lies with the government.”

In 2022, Bangladesh signed a 4.7 billion dollar loan agreement with the IMF. Out of this, five installments have been released, but the sixth is now pending. The organization has stated that it will make a decision on releasing the remaining funds only after the formation of a new government. According to economists, this is a question of political confidence and continuity of policy.

Liaquat Ali Bhuiyan, Senior Vice President of REHAB, the top organization in the housing sector, said: “New investment in manufacturing, real estate, banking, and service sectors is now almost stopped. The IMF is seeing a crisis of political confidence, not economic. Without an elected government, accountability and policy continuity are uncertain. Domestic businessmen are also saying that this is not the time to take risks.”

Former Director of the country’s top business organization FBCCI, Ishakul Hossain, said: “Taking long-term investment decisions without an elected government is like taking a suicidal risk. We are only continuing our old operations.”

He said, foreign buyers are concerned about the political situation. Export orders are also decreasing. Confidence will not return unless an elected government comes. Stability is needed in the export market.