The leaders of the country's top four business organizations have sought urgent policy and financial assistance to save the industrial and trade sectors from potentially massive losses, as Chittagong Port and its connecting road and rail networks remain disrupted by ongoing floods and heavy rainfall.
In a joint letter sent to Shipping Minister Sheikh Rabiul Alam on Sunday (July 12), they urged the government to take a series of measures, including restoring operations at Chittagong Port quickly, providing special financial aid for affected businesses, and waiving relevant charges.
The letter was signed by Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA); Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA); Showkat Aziz Russell, president of the Bangladesh Textile Mills Association (BTMA); and Mohammad Amirul Haq, president of the Chittagong Chamber of Commerce and Industry (CCCI).
In the letter, the business leaders stated that the current government's business- and investment-friendly policies, industrialization efforts, export growth, and trade facilitation initiatives have driven the country's economy forward.
However, the ongoing floods and waterlogging have severely disrupted Chittagong Port and the related road and rail communication systems, plunging import and export activities into a major crisis.
They pointed out that moisture-sensitive goods stranded at the port—such as imported cotton, yarn, fabrics, industrial raw materials, chemicals, packaging materials, and food products—face the risk of degradation.
At the same time, delays in shipping ready-made garments, home textiles, leather goods, pharmaceuticals, and agricultural products awaiting export are increasing the risk of order cancellations, discounts, late penalties, and expensive air shipments.
The letter noted that continuous heavy rain since July 5 caused water to enter various yards and private container depots at Chittagong Port, damaging containers filled with import and export goods.
Amid this situation, the Chittagong Port Authority issued a notice on July 10 denying any compensation claims and refusing to accept liability, which has sparked dissatisfaction within the business community.
According to the business leaders, if the damage is caused by infrastructural weaknesses, inadequate drainage systems, or management flaws, a neutral investigation should be conducted to determine liability and ensure fair remedies for those affected.
The letter further highlighted that because containers and goods have been stuck at the port for an extended period, importers and exporters are facing additional demurrage, detention, port rent, storage, shed and yard charges, alongside rising shipping costs.
As a result, factories are facing severe pressure regarding production, cash flow, workers' wage payments, bank loan installments, and other financial obligations. Micro, cottage, and medium enterprises (MSMEs) are particularly at risk.
To tackle the crisis, the business leaders called for several urgent steps. These include: quickly restoring Chittagong Port and road-rail communication networks; forming a special assessment committee to evaluate losses; completely or partially waiving demurrage, detention, port rent, storage, and related charges; and introducing fast-track customs facilities for raw materials and emergency goods.
Additionally, they proposed providing low-interest refinancing funds and working capital loans for affected industries, extending loan repayment periods and restructuring timelines, extending deadlines for LCs and export-import documentation, deferring utility bills and tax payments, offering special incentives for SME entrepreneurs, and easing customs, foreign exchange, and banking procedures for damaged goods.
The business leaders also proposed forming a high-level inter-ministerial task force comprising representatives from the Ministries of Commerce, Finance, and Shipping, the National Board of Revenue (NBR), Bangladesh Bank, Chittagong Port Authority, Custom House, Bangladesh Railway, Roads and Highways Department, and the relevant business organizations.