The circumstances in Bangladesh are becoming more unstable by the day with Chief Adviser Muhammad Yunus at the helm. From a deteriorating garment industry to strained civil-military ties, indications of an escalating crisis are evident throughout vital sectors.
Investor trust has sharply decreased due to a deteriorating law and order environment, diplomatic miscalculations have left the country isolated internationally, and corruption claims are casting significant doubts on the government’s sincerity and reliability.
Here are some major indicators which prove that the situation is unstable:
Garment Sector facing crisis
The crucial garment sector of Bangladesh is in disarray. As of August 5, 2024, over 140 clothing factories have closed, with an additional 15 shutdowns recorded this month. More than one lakh employees have been laid off, numerous without getting owed salaries or service entitlements.
The effect is especially harsh in Dhaka and nearby industrial areas: 103 factories in Dhaka, 70 in Gazipur, 23 in Narayanganj, and 41 in Savar-Ashulia have halted operations. Even 15 plants associated with Beximco—allegedly tied to the Awami League—have closed. A mix of financial turmoil, decreasing purchase orders, and absence of political guidance has left the sector on the brink.
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Civil-Military conflict
Tensions are rising between the military and the Yunus government. Numerous Army officials have allegedly voiced frustration over the government’s continuous efforts to involve the military in political issues. The Army Chief stands resolute on conducting elections by December, indicating a potential institutional impasse.
Although the military has been assigned the responsibility of addressing the increasing menace of militancy “sophistically,” the noticeable gap between civilian and military leaders is contributing to the nation’s instability.
Investor Confidence collapses
Bangladesh’s deteriorating law and order situation—characterized by looting, arson, killings, and militant actions—has significantly undermined confidence in business. Foreign investment has dropped dramatically by an astonishing 71 percent in comparison to last year.
Business leaders have openly expressed worry about the government’s inability to guarantee safety or aid in economic recovery. The increasing visibility of extremist groups such as Hizb ut-Tahrir openly demonstrating in Dhaka has further intensified investor anxieties.
