Difficult Times Ahead: We Need Unity, Not Division

The entire world is currently experiencing extreme uncertainty and instability. Amid the war involving Iran, the United States, and Israel, the attacks by Houthi rebels in Saudi Arabia have shaken the global community. As the conflict between Yemen's Houthi rebels and Saudi Arabia escalates, severe volatility has emerged in oil supply and transport systems, directly impacting global energy fuel markets. Gasoline and diesel prices have risen sharply in most countries, while wholesale prices for natural gas--used for domestic consumption and power generation—have also surged. Compared to July, natural gas prices in the UK and Europe have nearly doubled.

Under these circumstances, fears of renewed inflationary pressure on the global economy have heightened. If energy prices remain elevated for an extended period, interest rates may rise, driving up borrowing and mortgage costs. Simultaneously, the prices of food and other consumer goods are likely to escalate.

The ripples of this global crisis are hitting Bangladesh as well. Bangladesh is already traversing a critical juncture. The BNP government, under the leadership of Tarique Rahman, assumed office amidst a state of ruin. The economy had been severely battered due to 17 years of corruption, looting, and misrule; on top of that, the Iran war broke out shortly after the BNP assumed power.

Despite numerous adversities, Tarique Rahman is persevering to propel the nation forward. As soon as the government assumed power, the Middle Eastern energy crisis emerged as one of its foremost challenges. Almost all Middle Eastern countries have hiked fuel prices in their domestic markets during this period—some by up to 33%—whereas in Bangladesh, the price increase has been kept around 10%.

To achieve a permanent and sustainable solution to this crisis, the government has focused on renewable energy and exploring local fuel sources.

Due to prolonged inflation and the Middle Eastern crisis, the cost of living for ordinary citizens has escalated. The rise in energy and power prices threatens to impact various sectors of the economy. However, the government is taking necessary measures to tackle these pressures. Particular efforts are being made to minimize the additional burden on the general public during fuel price adjustments. Recent reports from international agencies, including the World Bank, have highlighted the risk of people falling below the poverty line due to sustained inflation and the Middle Eastern crisis. According to World Bank estimates, past persistent inflation pushed nearly 8 million people below the poverty line in the country.

The World Bank and the International Monetary Fund (IMF) believe that the government's Family Card, Farmer Card, and social protection programs will play an effective role in mitigating suffering and reducing poverty. These initiatives are expected to help lift impoverished individuals out of poverty while preventing vulnerable populations from falling below the poverty line.

Just as the government was striving to put the economy back on track, the Houthi rebel attacks in Saudi Arabia commenced, plunging Bangladesh into a fresh crisis. Bangladesh receives the largest share of its remittance inflows and crude oil from Saudi Arabia. missile attacks by the Houthis and the subsequent disruption of air communications with the country have created new concerns for Bangladesh's economy. According to Bangladesh Bank data, approximately 3.5 million Bangladeshis reside in Saudi Arabia. In the first three months of the current fiscal year, expatriates there remitted $1.95 billion, accounting for 19.2% of the country's total remittance inflow. In the previous fiscal year, remittances from Saudi Arabia totaled nearly $5.85 billion, representing roughly 16.4% of that year's total flow.

Furthermore, Crown Prince Mohammed bin Salman's recent blueprint to transform Saudi Arabia's economy from oil dependency to a commercial and tourism hub opened up bright prospects for a vast number of unskilled Bangladeshi workers. Data from the Bureau of Manpower, Employment and Training (BMET) shows that Saudi Arabia remains Bangladesh's largest manpower export destination; in September alone, Saudi authorities granted clearance to 32,915 workers. If attacks on critical infrastructure—including airports—persist for a long time, it will spell dire news for the employment of Bangladeshi migrant workers and the flow of remittances. Following the Houthi attacks, Saudi Arabia's Civil Aviation Authority suspended flight operations at Riyadh's King Khalid International Airport until October 17, while King Fahd International Airport in Dammam is operating on a limited basis. This has thrown numerous Bangladeshi expatriates into extreme anxiety and uncertainty. For workers with strict deadlines to report for duty, missing flights risks their job security, while others face severe financial strain covering visa renewal fees and rebooking flight tickets.

Although there has been no immediate drop in remittance flows so far, a prolonged conflict could well impact them.

Thus, if the conflict in Saudi Arabia continues, Bangladesh—and indeed the entire world—will face a difficult economic situation. Overcoming this crisis requires national unity and solidarity. All political parties must work together cohesively at this critical time, transcending political differences. The government should initiate dialogue with opposition parties regarding the crises arising from current global events and explore potential solutions, taking opposition suggestions into genuine consideration. Conversely, the opposition should refrain from blanket criticism and instead assist and advise the government to navigate this crisis.

It is not just political parties; people from all walks of life should stand by the government. Everyone must dedicate their skills and expertise to the service of the nation during this predicament, and the government should create opportunities to leverage the insights of experienced professionals across various fields. Through collective effort, under the leadership of Tarique Rahman, Bangladesh can successfully overcome this crisis. However, if we remain divided, indulge in blame games, or attempt to embarrass the government during these difficult times, the people and Bangladesh itself will suffer far more than the government. Difficult times lie ahead—it is time to forget our differences and stand united.

Audite Karim: Writer and Playwright. Email: [email protected]