DHAKA: Experts say it will take maximum 2.5 year time to recover the financial losses the country incurred due to violence during the last 75 days of hartal and blockade.

As per the affected traders’ claim, the country is counting losses about Tk 2,277-crore a day on an average totaling Tk 1.5 lakh crore.

According to businesspeople, due to countrywide hartal and blockade, apparel sector has incurred losses of Tk 882-crore in a day while transport sector Tk 300-crore; agriculture Tk 288-crore; housing Tk 250-crore; tourism Tk 210-crore; wholesale markets, shopping malls, show-room and small shops Tk 150-crore; production sector Tk 100-crore; ceramic sector Tk 20-crore; poultry industry Tk 18-crore; plastic products manufacture and export Tk 18-crore; insurance and hawkers Tk 15-crore and frozen foods Tk 8-crore.

The researchers said that the economy has to face short, short-mid, mid and long-term losses for the frequent shutdown and non-stop blockade and violence. If the situation became stable, at least from two months to one year time will need to recoup the loss.

Moreover, from five months to two-and-a-half year time frame will be required to overcome the huge loss incurred during two-and-a-half month political unrest.

Bangladesh Bank Governor Dr Atiur Rahman opined that at the time when the country's economy was stepping forward, the political instability has been created. The economy is bleeding for facing the huge losses due to ongoing hartal and blockade. If instability lasts for a long, bleeding of the economy can further be increased.

Bangladesh Institute of Development Studies (BIDS) research director Zaid Bakht said the supply chain has been collapsed for hartal and blockade. Businesspeople can not repay the loans taken from the banks because of their losses in businesses. As a result, the total financial sector, including the banks, has been facing huge losses.

According to the expert, poor people are mostly affected for the political unrest.

Dr Khandaker Golam Moazzem, additional research director of Centre for Policy Dialogue (CPD), told banglanews that it is difficult to say how long time the businesspeople need for recovery from the damage due to the strikes and blockade.

However, the country will face long, medium and short term impacts, he added.

BDST: 1357 HRS, MAR 23, 2015