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The Financial Express

Wholesalers, hoarders suffer billions in losses

| Updated: August 08, 2021 09:06:33


Wholesalers, hoarders suffer billions in losses

After a week-long incessant rain sun appeared in the Chattogram sky on Wednesday, but the sun did not shine for the traders of Khatunganj, Chaktai, Korbaniganj, and Rajakhali who discovered after the downpour that the rain-triggered deluge in the port city left them in a lurch.

Sources said the traders in the city's four business hubs located on both banks of Chaktai Canal suffered heavy losses as their commodity stocks worth multi-billion Taka were damaged due to waterlogging following seven days' of showers which ended today.

The downpour heavily disrupted normal life and trade all over the city and its suburbs.

The local meteorological department recorded a total of 175.6 milli-metre (mm) rainfall in 24 hours from 9:00 am on Monday to 9:00 am Tuesday. Besides, the Patenga Met Office recorded a total of 190.6 mm rainfall from 12pm Monday to 12pm Tuesday.

The heavy shower left many canals of Karnaphuli River, including Chaktai Canal, overflowing their banks, submerging the four business hubs, many wholesale markets, and thousands of residences situated in low-lying areas of Chattogram city, the country's main commercial centre.

As the traders went to the area to fathom losses caused by the shower, their foreheads turned wrinkled as they discovered that the deluge almost completely destroyed the stocks at the storage.

The traders at the century-old four business hubs said, the problem worsened further after solid wastes and filth, which choked up Chaktai Canal, forced their way into the shops and godowns.

Every year, rainwater from Karnaphuli River floods shops and warehouses in the area through different small and large canals, including Chaktai Canal, which also serves as the main drainage system for rain or flood water in the city alongside its other sewage outlets.

The four commodity hubs house more than 5,000 small and large warehouses and about 3,000 wholesale markets and other business establishments.

According to the Khatunganj Trade and Industries Association, the daily turnover in Khatunganj wholesale market alone stands at Tk 12 billion to Tk 15 billion (Tk 1,200-1,500 crore).

The traders said they had to incur huge losses every year due to water-logging in monsoon, which they termed a perennial problem in this part of the city.

The association leaders told the FE that they had incurred losses worth billions of Taka. However, they said that they had not yet fully calculated the losses as they were too busy trying to save what remained of their goods. The actual loss (of commodities) in terms of money would be billions (of Taka), they said.

"Not this year alone, we have to suffer huge losses every year and we want the chronic water-logging problem resolved as early as possible," they said adding "The government should put special emphasis on Chaktai- Khatunganj since it is a major commercial hub not only in the port city but also in the country."

"Chaktai Canal should be dredged and excavated on a regular basis," they suggested.

Speaking to the FE, Solaiman Badshah, a leader of Chaktai-Khatunganj Warehouse Owners' and General Merchants' Association, said the long-standing water-logging problem had now become a tragedy for the commodity hub of the commercial capital.

"Chaktai-Khatunganj is a long-neglected business hub of the country. Nobody seems to be concerned about developing of the godown and wholesale market area," he lamented.

"Many parts of Chaktai Canal have been filled up with solid waste and filth as a result of illegal land occupying by land-grabbers and lack of regular dredging of the canal by the authorities concerned," they said.

"The waterlogging is causing untold miseries. We, on behalf of our organisation, have submitted memorandums to different concerned government offices to press for our demands," he added.

Chittagong Chamber of Commerce and Industry (CCCI) President Mahbubul Alam said, "Every year, Chaktai, Khatunganj is inundated by rain water and tidal water in the rainy season. We want to be freed from waterlogging soon as Prime Minister Sheikh Hasina has allocated a huge amount of money for a mega project (to get the city rid of this problem). We want to know about the progress of the mega project. We also want to know why the city-dwellers are yet to be freed from waterlogging."

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