Power woes top agenda as businesses press PM for action

The business community have urged the government to ensure an uninterrupted energy supply and accelerate key economic reforms, warning that the ongoing energy crisis is putting mounting pressure on Bangladesh’s economy.

The concerns were raised at the first meeting of the Advisory Council on Private Sector Development, held at the Prime Minister’s Office on Saturday, with Prime Minister Tarique Rahman in the chair.

Briefing reporters after the meeting, Finance Minister Amir Khosru Mahmud Chowdhury said business leaders placed top priority on a stable and uninterrupted energy supply to sustain industrial production and economic growth.

“They sought assurance from the prime minister regarding uninterrupted energy supply, as the current situation is creating pressure on businesses and the broader economy,” he said.

Entrepreneurs also called for policy support to expand the use of renewable energy, particularly solar power, to reduce dependence on conventional energy sources.

In a bid to attract foreign investment, business leaders proposed the introduction of e-visas and smoother airport procedures, allowing foreign investors to enter Bangladesh more easily.

They further emphasised the need to reduce bank lending rates, reform the National Board of Revenue (NBR), and broaden the tax base without placing excessive burdens on a limited number of taxpayers.

To boost exports and industrial growth, the private sector urged the government to simplify licensing procedures for medium-sized enterprises and expedite the development of deep-sea ports to facilitate faster import-export operations.

According to the finance minister, the prime minister sought direct feedback from business leaders on the challenges they are facing. 

“We have heard about various crises in recent days, but the prime minister wanted to listen to the business community directly. Their concerns have been noted – some issues have already been resolved, while others will be addressed through continued dialogue,” he said.

The meeting, which began at 11:30 am, marked Tarique Rahman’s first formal engagement with top business leaders since assuming office. It is being seen as the start of a renewed dialogue between the government and the private sector aimed at improving the investment climate and addressing ongoing challenges in the industrial sector.

Economists say the outcome of such engagements will be crucial in restoring investor confidence, stabilising energy supply, and sustaining economic momentum amid both domestic and global uncertainties.

Alongside Finance Minister Amir Khasru Mahmud Chowdhury, Commerce Minister Khandaker Abdul Muktadir, State Minister for Power and Energy Anindya Islam Amit, and Executive Chairman of Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud bin Harun were present at the meeting.

Leading industrialists attending the meeting included MA Jabbar of DBL Group, Syed Mohammad Tanvir of Pacific Jeans Group, Syed Nasim Manzur of Apex Group, Ziaur Rahman of Bay Group, Ahsan Khan Chowdhury of Pran-RFL Group, Abdul Moktadir of Incepta Group, Hafizur Rahman of Runner Group, Sohana Rouf Chowdhury of Rangs Group, and Arif Dowla of ACI Limited.