BB to assess loss caused by political violence

Bangladesh Bank (BB) will assess the loss to the political violence during the ongoing countrywide

blockade and recurring hartals, a central bank official told BSS  yesterday.

“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 Tk 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 Tk 75,000 crore.

According to FBCCI, the major losers were apparel sector with Tk 30,000 crore, wholesale and retail

business with Tk 15,000 crore, agriculture and poultry with Tk 9,518 crore, transport sector with Tk

9,500 crore, tourism with Tk 6,500 crore and frozen foods with Tk 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.