Extortion increased 20-50pc during interim govt: DCCI

Extortion in the country increased during the interim government, according to Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed. He claimed extortion has risen by 20 to 50 per cent since the fall of the Awami League government.

He made these remarks at a press conference titled 'Expectations from the Newly Formed Government to Tackle the Existing Economic Situation' at the DCCI office in Motijheel, Dhaka on Monday.

In response to a question about who is involved in extortion, Taskeen Ahmed said various quarters including individuals using the ruling party's identity, police and revenue officials are engaged in such activities. He said, "Whoever comes to power, some people demand extortion claiming to be from the government party."

He alleged that extortion is being demanded even to enter offices, roads and factories. He warned that it will not be possible to continue business unless extortion and corruption are stopped.

The DCCI President identified improving the law and order situation and stopping extortion as the top priority for economic stability. He also called for ensuring transparency and corruption-free management in the public sector to restore investor confidence.

He said entrepreneurs who are not deliberate loan defaulters should be brought back to business through working capital support, and interest rates should be brought down to tolerable levels.

He proposed listing profitable government enterprises through green channels to strengthen the capital market. He also demanded publication of business-related clauses of the tariff agreement signed with the United States.

Taskeen Ahmed said unless strong measures are taken to stop corruption and extortion, the economy will not reach its desired goal and the business community will face extreme crisis.