1. Background and Recent Developments

The Chattogram seaport is the main lifeline of Bangladesh's economy and international trade, handling approximately 92 percent of the country's total imports and exports. Recently, the government has initiated moves to lease out the port's most lucrative and strategically vital New Mooring Container Terminal (NCT) and overflow container yard to an international operator for a period of 15 years.

Last Thursday, the Cabinet Committee on Economic Affairs granted policy approval to the draft concession draft presented by the Ministry of Shipping. Following this decision, various political, labor, and professional organizations have risen in protest, citing the protection of the national economy, national sovereignty, and workers' rights. Continuing this momentum, led by the Port Protection Committee and with the participation of various labor unions, continuous sit-in and demonstration programs began outside the administrative building of Chattogram Port starting this Monday morning.

2. Core Demands and Concerns of the Port Protection Committee

From the sit-in program, leaders of the Port Protection Committee and the Sramik-Kormochari Oikya Parishad (SKOP) raised specific demands. Their primary areas of concern are outlined below:

• Opposition to the 15-Year Agreement: Demands were made for the immediate cancellation of the proposed 15-year foreign lease agreement for the NCT and its overflow yard.

• Protection of Other Terminals: An appeal was made to the government to refrain from the process of handing over the remaining operational terminals—the Chattogram Container Terminal (CCT) and the General Cargo Berth (GCB)—to foreign operators.

• Transparency and Comparative Evaluation: According to port leaders, prior to handing over a strategic and profitable state asset on a long-term basis, a transparent comparative evaluation (Cost-Benefit Analysis) weighing domestic management capacity against foreign management pros and cons must be made public.

• Withdrawal of Harassing Cases: Demands were raised to withdraw the "false and harassing" cases filed against agitating labor leaders and to ensure no administrative persecution occurs against them in the future.

3. Analytical Perspective: Analysis of Benefits vs. Risks • Economists, port experts, and policymakers hold diverse views regarding this leasing process. A comprehensive analysis brings the following aspects to the forefront: A. Positive or Economic Arguments:

• Modernization and Automation: International operators typically bring state-of-the-art technology, cranes, and automated container handling systems, which can accelerate port operations in the long run.

• Reduction of Turnaround Time: The experience of world-class operators can be effective in reducing vessel congestion and cutting down container delivery times.

• Foreign Direct Investment (FDI): The arrival of internationally renowned logistics companies can boost foreign investors' confidence in the country's overall logistics sector.

B. Negative and Strategic Risks:

• National Security and Strategic Sovereignty: Chattogram Port is not merely a commercial establishment; it is one of the primary pillars of the nation's economic security. Long-term foreign control over it could pose strategic risks.

• Apprehension of Revenue Loss: NCT is currently one of the port's most profitable terminals. If a large share of this profitable sector falls into the hands of a foreign entity, the amount of dividends flowing to the national treasury could decrease significantly.

• Workers' Interests and Employment: Foreign operators may resort to layoffs due to cost-cutting policies, which would negatively impact domestic employment and the livelihoods of workers.

• Risk of Monopolistic Dominance: There is a risk that domestic entrepreneurs and the competitive environment of the local container handling or shipping sector could be undermined. At a time when increasing foreign exchange reserves, generating employment, and executing economic reforms are the government's primary challenges, the Port Protection Committee and relevant experts question how rational it is to rush the long-term lease of the country's largest strategic infrastructure.

To calm the situation and protect national interests, the following steps can be undertaken:

• Publication of a White Paper: Making a comprehensive white paper public regarding all agreements and financial evaluations made thus far concerning the NCT lease.

• Dialogue with Stakeholders: Forming a high-level technical committee comprising port users, labor representatives, economists, and port authority officials to conduct open discussions.

• Enhancing Domestic Capacity: Exploring alternative pathways to reap benefits through joint ventures or modernizing domestic management rather than directly leasing terminals to foreign operators.

Author: Dr. Abul Hasnat Milton, Journalist, Political Analyst, and Editor-in-Chief, The Source News Bangla