FBCCI President AK Azad
The
country's apex trade body on Tuesday expressed its concern over the
government plan to amend law to appoint administrator to companies,
saying such unilateral and controlling decision would scare the business
community. They urged the government to withdraw the proposed plan, which, they say, will disrupt the existing business climate in the country and discourage both local and foreign investment.
"If such change is brought then the undemocratic forces will get scope to establish their control over the businesses," AK Azad, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), told reporters at a city hotel in the capital.
The comments from the business community came as the government moved to bring changes to the Companies Act 1994 to appoint the administrator to controversial Destiny Group to protect the interest of the depositors and stop the company officials to sell its assets.
The FBCCI president said the current laws allowed the government to appoint administrator to any company following permission from court.
"So, a change in law is unnecessary. It can be done for a specific company, but not for the whole business community," Azad said.
Azad also urged the government to consult with the business community before enacting such change saying, "We are ready to sit in this regard."
Shafiul Islam Mohiuddin, the president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA); Jahangir Alamin, president of Bangladesh Textile Mills Association (BTMA); and Mir Nasir Hossain, a former president of the FBCCI; were also present at the programme.
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