During a recent visit to Khatunganj, which was once Bangladesh’s largest wholesale market for essential commodities and spanned a huge area across the Chaktai canal and Karnaphuli river in Chittagong city, this reporter found that the glory of the former commodity hub was all but absent.
Once able to lead and control the country’s trade and commerce, the 150 year old trading post is now troubled by a number of problems.
Although the trade centre was busy constantly during the 90s, with the presence of buyers and commodity-laden trucks, this reporter observed that the number of trucks had dwindled, and owners of businesses said their enterprises were not as successful as they used to be.
According to the owners, businesses currently active include only those whose owners have managed bank loans, traders who inherited their businesses, and temporary businesses who are not part of the market.
Speaking to Dhaka Tribune, businessmen said the problems were both natural and man-made.
Many middle-class traders complained that they had to operate in a chaotic environment because of rampant fraud, widespread unprofessionalism, and malpractice by a section of the local traders.
They also mentioned that the delivery order (DO) system, fake traders, seasonal traders, and brokers have made it tough for the traditional businessmen to survive.
Mahbubul Alam, president of the Khatunganj Trade and Industries Association, said Khatunganj lost its importance due to the expansion of an open-market economy, a Dhaka-based administration, booming online marketplaces, water-logging at Khatunganj and, most of all, bad infrastructure such as the narrow roads in the market.
“Due to these problems, most businesses – such as RTV, Hashem Corporation, and TK Group – have moved to Dhaka from Khatunganj,” he added.
“As the government and top corporate houses tend to establish their headquarters in the capital city, other businesses and medium enterprises are also starting to invest and operate in Dhaka.”
Mahbubul Alam demanded the establishment of a truck terminal, the widening of the roads, dredging of the Karnaphuli river, and an expansion of the Chaktai canal in order to give the commodity hub its glory back.
Sayed Sagir Ahmed, general secretary of Khatunganj Trade and Industries Association, said: “Only around 12 years ago, about 50% of the country’s commodity market was controlled by Khatungaj businesses, but now the majority of that has been taken over by the businesses in Dhaka’s Moulvibazar.”
He also said that businesses in Khatunganj have been approaching the government for many years to with demands to appoint a state minister for commerce in Chittagong, but that no response has been received.
“The head officers of all banks are located in Dhaka, so businesses need to go there for any important work, including bank loans.”
Sayed Sagir Ahmed also called upon the authorities concerned to save the major business hub of Chittagong-Chaktai-Khatungonj by rejuvenating the infrastructure and waterways, alleviating water logging problems, and relieving traffic congestion in the area.
