During the interim government’s tenure, business, trade and investment had almost ground to a halt. Businesspeople and entrepreneurs were severely neglected. Instead, policies and strategies were adopted that effectively blocked business activity and investment, causing confidence to reach an all-time low. Like many others, Bashundhara Multi Steel Industries Limited’s project was also affected.

During the interim government’s tenure, a strategy was adopted to render major industrial groups inoperable under the guise of the ‘single borrower exposure’ policy.

Caught in the web of this discriminatory policy, Bashundhara Multi Steel Industries was brought to a standstill even before it could begin operations. After falling victim to misguided policies for around 13 months, the initiative saw the policy scrapped after the BNP government came to power.

Now, a fresh mission has begun to revive the project, offering what appears to be ‘light at the end of the tunnel’. The process of unloading machinery packed into 275 containers from the port is underway, one consignment at a time.

Other processes are also moving forward. Signs of life are emerging at the closed and dormant factory. With steely determination, Bashundhara Multi Steel Industries Limited is weaving a story of rising from the ashes, like a ‘phoenix’, to become a formidable force in the economy. The banks that have financed the project and those that are prepared to provide further financing are working alongside Bashundhara Multi Steel as partners in its mission to move forward, in keeping with the new government’s investment-friendly approach and ‘spirit’.

The banks, too, have put behind them the dark past associated with the invisible ‘signals’ of the interim government and are now adopting a positive stance towards strengthening the economy, echoing Prime Minister Tarique Rahman’s slogan, ‘Bangladesh First’.

It is learnt that Safwan Bashundhara Global (SBG), one of Bangladesh’s leading business groups, continues to contribute to economic activity by employing a large number of people and maintaining substantial import-export operations and financial transactions. The group’s numerous business and commercial activities contribute to the welfare of the people. The government also receives hundreds of crores of taka in revenue from the group, helping to strengthen the country’s economy.

Bashundhara Multi Steel Industries may have endured 18 months of darkness because of the misguided policies of the previous interim government. But across this and all its other initiatives and commercial ventures, immense drive, vitality and courage have always been among its most valuable assets — and remain so.

Bashundhara Multi Steel Industries, a subsidiary of Safwan Bashundhara Global, is preparing to overcome all obstacles, patiently confront the financial losses caused by misguided policies, and move forward with the support of the government and its business-friendly approach, while working closely with the central bank and the banking sector.

Senior officials of Bashundhara Multi Steel Industries also believe that the country must come first. Therefore, despite all obstacles, the project will move forward with renewed strength in the national interest. Its sole objective now is to overcome all the setbacks and make a fresh start with renewed vigour.