FBCCI needs its voice back
Trade bodies exist for a reason. They are the loudest voices of the private sector, pushing for lower tariffs, clearer rules, and sympathetic policies. Yet, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has gone strangely quiet of late. It is not because the country's business community is content, but because their apex body has been decapitated.
Since the political changeover last year, the FBCCI's boardroom has been empty of actual business leaders. Instead, the interim government has installed bureaucrats to keep the seat warm. First came a retired bureaucrat; now sits a serving additional secretary. This is a routine adherence to outdated rules. Asking a bureaucrat to represent the sheer dynamism of the private sector is a disservice to the economy. And its consequences are potentially severe.
For all latest news, follow The Daily Star's Google News channel. 
Bangladesh boasts a $500 billion economy with the private sector commanding 85 percent of it. The FBCCI typically advises the government on export-import policies and assists in setting prices for essential commodities. Without elected leadership, that system is broken. The government, deprived of genuine consultation, seems to be flying blind. To be fair, the rot set in long before the arrival of the current administration. Under the previous regime, the FBCCI became a patronage mill. Leadership elections were often theatrical shams. The institution was hollowed out by politicisation.
So, restoring credibility will require a new system, not just an election. The reforms currently on the table are promising. The most consequential shift is at the top: the president and three vice-presidents will now be directly elected rather than chosen by nominated and elected directors. That will end an opaque tradition in which directors selected the leadership from among themselves. The board itself is being downsized. The previously bloated assembly of 80 directors—comprising 34 nominated and 46 elected representatives—will be reduced to 44. Under the new rules, 30 directors will be chosen through direct ballot, split evenly between chamber and association groups. The remaining 14 seats will be nominated, again divided equally, with a new decision to ensure female representation in both categories. This is the right direction, as the new rules may dismantle the old syndicates.
However, the deadline has been missed. Legal squabbles over membership fees and powers of the election commission have been allowed to fester. A promised September poll date came and went. This drift must end. The interim government's new appointee, Abdur Rahim Khan, has 120 days to hold the vote. He should treat this timeline as sacrosanct. Bangladesh is navigating a fragile economic transition, and so needs a vocal, perhaps even prickly, partner in the private sector. The FBCCI must function as a robust counterweight as well as an adviser to the government. The economy needs a voice, and that voice must belong to the private sector.
Comments