Accelerating the Trillion Dollar Journey


Accelerating the Trillion Dollar Journey

FBCCI and Bangladesh Bank Commits to Work Together to Reign in Inflation & Stabilize Forex Market

A high-level business delegation of the country, led by FBCCI President Mr. Mahbubul Alam, paid a courtesy call on the Governor of Bangladesh Bank Mr. Abdur Rouf Talukder on May 16, 2024, at the Central Bank's Head Office in Motijheel, Dhaka.

FBCCI chief Mr. Mahbubul Alam raised a range of issues on behalf of the business community during the meeting.

He highlighted in his statement that due to the dollar rate increase from Tk 85 to Tk 110-117, businesses and entrepreneurs are suffering significant financial losses. They are facing challenges in the intensely competitive global market.

He said, "The cost of raw materials, ingredients, and machinery has increased significantly, along with transportation costs, which has greatly pushed production costs and thus, the cost of business operations.
"Additionally, a low demand for products in the international market is also posing challenges to our industrial and export sectors."

The business leader added that due to the long-term effects of Covid-19 pandemic, the Russia-Ukraine war, and the resulting global economic downturn, local industries are severely damaged by internal inflation and increased costs in gas, electricity, and transportation.

Former FBCCI president Mr. Jashim Uddin Discussed about the interest rate, exchange rate, and the losses due to the exchange rate.

BGMEA President SM Mannan Kochi said many entrepreneurs outside the economic zones have invested tens of millions and so a request has been made to suspend the Bangladesh Bank's order that no industrial factories can be established outside the economic zones.

During the meeting, the Governor of Bangladesh Bank attentively listen the talking points from businessmen. He reiterated central bank’s commitment to work together with private sector for bolstering the economic growth of the country.

Among others, the President of the SAARC Chamber and former FBCCI President Mr. Md. Jashim Uddin, FBCCI Senior Vice President Mr. Md. Amin Helaly, Vice President Mr. Md. Munir Hossain, Deputy Governor of Bangladesh Bank Mr. Kazi Sayedur Rahman, Ms. Nurun Nahar, Mr. Md. Khurshid Alam, Dr. Md. Habibur Rahman, Spokesperson Mr. Md. Mezbaul Haque, President of Dhaka Chamber Mr. Ashraf Ahmed, President of Metropolitan Chamber Mr. Kamran T Rahman, BGMEA President Mr. S. M. Mannan (Kochi), President of BTMA Mr. Mohammad Ali Khokon, the Executive Chairman of BKMEA Mr. Mohammad Hatem, FBCCI Panel Adviser and CEO of Pran-RFL group Mr. Ahsan Khan Chowdhury, business leaders and dignitaries were also present there