BB to assess the economic loss of political violence
17 February 2015, Nirapad News: Bangladesh Bank will assess the loss to the political violence during the ongoing countrywide blockade and recurring hartals, a central bank official told to the press on Tuesday.
“The central bank will assess the losses on monthly basis and will compare the current situation with the cost of political violence that the country saw in 2013”, BB executive directive M Mahfuzur Rahman said.
The country’s leading think-tank, Centre for Policy Dialogue (CPD), estimated that the loss during the shutdowns and blockade from July to December, 2013 was Taka 50,000 crore.
The country’s leading trade-body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) already assessed that economic loss to the recent countrywide ceaseless blockade and recurring shutdowns would so far be no less than Taka 75,000 crore.
According to FBCCI, the major losers were apparel sector with Taka 30,000 crore, wholesale and retail business with Taka 15,000 crore, agriculture and poultry with Taka 9,518 crore, transport sector with Taka 9,500 crore, tourism with Taka 6,500 crore and frozen foods with Taka 250 crore.
Rahman, also the spokesperson of the central bank, said all the banks have been instructed to send information to BB on a prescribed form by February 19, providing necessary information about economic damage of the political violence and the data about allocation of loan, disbursement, recovery and outstanding amount.