Economy
Resignation Rumors Swirl Around BGMEA and BKMEA Leadership Amid Political Turmoil
In a significant development within Bangladesh’s garment industry, Presidents SM Mannan Kochi of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Salim Osman of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) are reportedly stepping down from their roles, according to sources.
A senior business leader, who requested anonymity, revealed that both Kochi and Salim had maintained strong ties with Sheikh Hasina, but recent political upheaval has forced them into hiding. “Given the current circumstances, general members have urged them to resign, and they have chosen to honor this request,” the source stated, noting that these changes could become public within the next two days.
Opposition Calls for BGMEA Board’s Dissolution
The BGMEA opposition panel, known as the Forum, has intensified its demands, calling for the dissolution of the current board and the formation of an interim committee to facilitate a fair and transparent election for the trade body. This demand was formally submitted to the Ministry of Commerce, accusing the previous election held in February of being compromised by irregularities under the influence of the Sheikh Hasina-led government.
Ministry insiders confirmed that the petition was delivered to Dr. Naznin Kawser Chowdhury, the newly appointed Director General of the Department of Trade Organizations (DTO). They also hinted that if Kochi does not voluntarily step down, the government might intervene by appointing an administrator to lead the association.
Leadership Transition Expected
It is anticipated that BGMEA Senior Vice President Khandaker Rafiqul Islam may assume the presidency, while BKMEA Executive President Mohammad Hatem is likely to take over Salim’s position. Kochi, who was elected as BGMEA president in March for the 2024-26 term and also serves as the general secretary of the Dhaka North City Awami League, is currently in Singapore for his son’s medical treatment. He has denied any involvement in the violence that led to his legal troubles following the ouster of the Awami League government on August 5.
Economy
Kazipara, Mirpur-10 Metro Stations Likely to Reopen This Month
The Kazipara and Mirpur-10 metro stations, which have been closed, are expected to reopen by the end of September, though the exact date has not yet been confirmed. Mohammad Abdur Rauf, Managing Director of Dhaka Mass Transit Company Limited (DMTCL), told TBS that a technical team has been tasked with resolving the issues at the stations.
“We are working to reopen the two stations within this month, but I cannot give a specific launch date yet. We will hold a meeting with the technical team and other stakeholders soon to review the progress. A decision is likely on 18 September,” Rauf said.
He noted that Kazipara station is likely to open earlier due to less severe damage, while Mirpur-10 may face delays as it requires machinery that needs to be imported.
Additionally, Rauf mentioned plans to begin metro rail operations on Fridays starting from 20 September, with efforts being made to meet this timeline.
Economy
CA Prof Yunus Announces Six Reform Commissions, Focuses on Constitution
Dr. Muhammad Yunus, the Chief Adviser of the interim government, has announced the formation of six commissions as an initial step toward reforms, including constitutional amendments. These commissions are expected to begin operations on 1 October and complete their work within three months.
In an address to the nation on Wednesday evening (11 September) from the Chief Adviser’s Office, Yunus outlined the government’s reform agenda. This is his second national address since taking office on 8 August.
Yunus explained that the formation of the six commissions is the first step in a broader plan for constitutional reform. He stated that the commissions would be led by six distinguished citizens, selected based on their expertise. These commissions will tackle various reform areas, and more will be established in the future.
Emphasizing the importance of constitutional reforms for free and fair elections, Yunus stated, “We believe that imposing majority rule through elections, resulting in misgovernance or consolidating all power into the hands of one person, family, or group, is unacceptable. To prevent this, we are considering reforms to institutions like the Election Commission and others involved in the election process. Reforming the police administration, civil service, judiciary, and Anti-Corruption Commission is essential for ensuring fair and transparent elections. These reforms will also contribute to establishing a state system based on public ownership, accountability, and welfare.”
Yunus announced the names of the six commission heads:
- Dr. Badiul Alam Majumdar will lead the Election System Reform Commission.
- Sarfaraz Chowdhury will head the Police Administration Reform Commission.
- Justice Shah Abu Naeem Mominur Rahman will lead the Judiciary Reform Commission.
- Dr. Iftekharuzzaman will lead the Anti-Corruption Reform Commission.
- Abdul Muid Chowdhury will head the Public Administration Reform Commission.
- Dr. Shahdeen Malik will lead the Constitutional Reform Commission.
The Chief Adviser mentioned that the other members of these commissions would be determined in consultation with the heads. Additionally, representatives from the advisory council, students, workers, social movements, civil society, and political parties will participate in the commissions’ discussions.
Yunus expressed hope that the commissions would be fully operational by 1 October and complete their work within three months. Based on the commissions’ reports, the government plans to organize consultations with major political parties. A broad consultation, lasting three to seven days, involving students, civil society, political party representatives, and the government will follow. This consultation will finalize the reform framework and outline its implementation strategy.
Yunus concluded by stating that this initiative will unify the nation, fulfilling the demands of the July uprising and strengthening the country with renewed hope and optimism.
Economy
Foreign Investors Urge Bangladesh to Reform Tax System, Emphasise Digitisation
The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has urged the Bangladesh government to implement a more investment-friendly tax structure to enhance foreign investor confidence.
During a meeting on Wednesday (11 September) with the newly appointed chairman of the National Board of Revenue (NBR), Abdur Rahman Khan, FICCI leaders highlighted the need for comprehensive tax reforms that would position Bangladesh as a more attractive destination for foreign direct investment (FDI) and strengthen the national economy.
Zaved Akhtar, President of FICCI, stressed the significance of fully digitising NBR operations, particularly by advancing automation systems to maximise revenue collection, as outlined in the chamber’s press release.
The delegation also recommended the establishment of a dedicated research unit within the NBR to broaden the tax base and increase revenue through in-depth market analysis, identifying gaps between market share and revenue generation.
NBR Chairman Abdur Rahman Khan acknowledged the importance of automation in stimulating economic progress and welcomed FICCI’s research findings on the taxation landscape.
FICCI’s delegation included Senior Vice President Eric M. Walker, other board members, and senior officials from member companies, alongside key officials from the NBR.