Two days ago, I met a businessman friend at a social event. He was accompanied by several other businessmen. The friend owns several garment and textile factories. The others are also of the same level. In conversation, I asked how the businessmen were doing? How was business going? One of them replied, ‘God knows how the businessmen are doing. Now all that remains is to take the hurricane in hand. Even though stuck in severe condition, trade is going well at home and abroad.’ Hearing the gentleman’s words, I was interested in hearing more. In the meantime, another person said something in a low voice. Before speaking, he glanced behind him and around him. Since the matter was visible to me, I asked, what did you see before speaking? In response, he said, ‘Now you have to speak carefully. Who will listen to what when and who will seal it as an ally of the fallen government. That is why I spoke after taking a little time to look.’ Then everyone else spoke in different topics. However, words like ‘stuck in severe condition ', 'hurricane in hand', 'trade in the country and abroad' and 'seal' kept knocking on my mind like a hammer. I was also doing my own calculations. At the same time, I asked myself, 'Is the honeymoon period coming to an end? Has the time come to lean on the wall?'
Business and commerce are two words. Although the usage of the two words is similar, the lexical meaning is different. The theoretical discussion is also different. The meaning and scope of the word business is very broad. Simply explained, business is basically a process of producing a product or service and then selling it to earn profit. Business activities are not limited to just producing and selling products, but are the driving force behind all types of conventional economic activities. Its goal is not only to make profit, but also to fulfill its responsibility for social development and create employment. Business is the backbone of a country's economy. Through business, the country's economy becomes dynamic, revenue is generated and the quality of life improves. That is, an entrepreneur establishes an industry with his own capital, creates employment in the industry. Makes a profit by selling the products produced. Pays salaries and allowances to subordinate officers and employees. Pays income tax to the government. Participates in the government's development activities and also fulfills social responsibilities.
Bangladesh has been independent for 53 years. During the Pakistan period, business was limited to 22 families. In the past 53 years since the country became independent, many renowned industrialists and business personalities have established themselves as successful entrepreneurs in the country, who are contributing to the development of the country and the prosperity of the national economy. Although the previous governments have failed to run government industrial institutions, thousands of industries have been established in the country by private entrepreneurs. They have created employment for millions of people in these institutions. They have created skilled manpower. They are earning foreign exchange for the country. They have empowered women. It is surprising to see long lines of working women in the morning or evening in the garment industrial areas including Gazipur and Ashulia. These women are turning the wheels of the country's economy with a strong hand by working in the industrial institutions established by private entrepreneurs. It is a matter of pride that 86 percent of our GDP is contributed by the private sector, i.e. industrialists, businessmen or entrepreneurs. Only 14 percent of the GDP is contributed by the government.
However, despite many opportunities, no other 'products' are being produced from government factories except bureaucrats or clerks. The government cannot even run a sugar mill properly. The huge jute mills have been closed. The same is true of the government textile mills. The condition of the much-needed Karnaphuli paper factory is also very deplorable.
However, it is true that without the cooperation or patronage of the government, it is not possible for private entrepreneurs in the country to do business or establish industries. Providing government patronage means providing policy support, creating a business environment, and providing appropriate infrastructure facilities including land, electricity, gas, and water to establish industries. A businessman can contribute to the development of the country only if he provides them with land, electricity, gas, and water.
In the past, the government has sometimes provided a little cooperation to the country's private industrial entrepreneurs. However, most of the time, it has tried to gain support by making empty promises and exerting pressure in various ways to stay in power. More propaganda is done than providing benefits.
In the last 15 years, businessmen have been under more pressure in various ways than ever before. Some pressure was overt, some was hidden. The previous government put many businessmen under various pressures and obtained many benefits. Despite saying that they would give everything in return, the businessmen did not actually get much. Rather, they were victims of deprivation. Businessmen did not disclose it out of fear. After August 5, businessmen realized what terrible damage the previous Awami League government had done to businessmen. Now the businessmen are unable to handle that loss. Many industries have already closed. Millions of people have become unemployed. Bank interest rates have been increased. Banks are not interested in any new private investment. All public and private banks are now investing money in the bond business. The dollar is rising rapidly.
Assessing the current situation of business and businessmen, prominent business personality of the country, former president of FBCCI and vice chairman of BNP, Abdul Awal Mitoo said that the Awami League government has left the country's economy in a multifaceted crisis. Bangladesh Chamber President Anwar-ul Alam Chowdhury Parvez said that the businessmen have their backs against the wall. AK Azad, Managing Director of Hameem Group, was forced to say, "I am a businessman, is this my crime?" These words of businessmen reveal the true picture of the country's economy and business. The country's private sector is under pressure from many sides.
The biggest crisis at present is the crisis of confidence, security and liquidity. One of the reasons for the liquidity crisis is the disruption of production in the industry, very low credit growth and high interest rates on loans. Along with this, businessmen are not getting government policy support to overcome the economic recession. In short, the country's economic situation and the real situation of businessmen are terribly bad. The sooner the current interim government understands this bad situation, the better. Otherwise, it is difficult to say what will happen. However, it can be at least assumed that just as no one has any useful knowledge if they don't have rice in their stomachs, similarly, if the national economy is bad, the patience and restraint of even the people who are the real owners of the country may break.
However, the word trade was also mentioned at that social event. The lexical meaning of trade is a little different. Trade is basically buying goods from one place and selling them to another. The one who does trade is called a merchant. But that businessman did not talk about merchants of trade. He wanted to say something else. He said something, hinted at something. To do trade, a merchant needs to have his own capital. With that capital, a merchant buys goods from one place and sells them to another and makes a profit. But this merchant's capital is a little different for the trade that that businessman wanted to explain. Capital is either one's own power or the power of uncles, aunts. Without economic capital, many people became owners of hundreds of crores of taka during the previous government by trading. More or less everyone has seen the heat of their money. Eyes widen when they see the list of assets. After the July uprising, many of those money-makers are now out of the country, many are in hiding. Even after witnessing these events before our eyes, new merchants are continuing their trade. It is being said that some parents have become powerful now due to the power of their sons. They have even opened offices to get chairs and tables to do business without capital. Some are even doing business abroad. If that is the case, then why have so many fresh lives been lost? Why are thousands of people still suffering in hospital beds today?
The elders always say, be careful, even the walls have ears. Even if no one can see the ears of the walls, this proverb is common for caution. However, the walls have a language. That language is obvious. In the July uprising, the walls were the place of trust for the revolutionaries. The revolutionaries were the first to speak about their wishes, their sacrifices, and their aspirations near the walls. The walls stood with their chests high on the side of the revolutionaries to spread the slogans of the revolutionaries. The language of the revolutionaries spread like sparks from wall to wall. Intelligent, responsible people tried to read the language of the walls and a new chapter was created. In the language of the revolutionaries, what is called, 'New Bangladesh'. The revolutionaries have trusted some people to run the new Bangladesh in the right way. The revolutionaries have placed their trust in some people. The revolutionaries want the people of the country to be well. The prices of daily necessities to be at a tolerable level. The people of the country to be safe. The business and economy to be active and dynamic. The rule of law to be established. The educational institutions should be for teachers and students. The fundamental rights of the people should be upheld. The demands of the people were written on the walls by the revolutionaries.
It has been six months. To put it bluntly, the honeymoon period has passed. Now the people of the country and the revolutionaries themselves have started reading the writings on the wall. They are trying to understand the language by listening to the wall. So those who are in the government capitalizing on the faith of the revolutionaries, please read the writings on the wall. Reconcile the accounts. What was supposed to be given to the people, what was given. Listen to the wall. You will hear various muffled sounds from the other side of the wall. Remember, the people will reconcile the accounts in due time. Two and two make four, the people surely know that.
Author: Executive Editor, Bangladesh Pratidin
