Fire at Cargo Village causes Tk 12,000 crore loss, says EAB

The Exporters Association of Bangladesh (EAB) estimates that the fire at Hazrat Shahjalal International Airport’s Cargo Village resulted in losses of approximately Tk 12,000 crore. 

The organisation has called for swift settlement of insurance claims for damaged goods and the creation of a special government fund to compensate for uninsured losses.

At a press conference held on Monday at Hotel Sonargaon in Karwan Bazar, Dhaka, EAB President Mohammad Hatem, joined by business leaders from sectors such as ready-made garments, textiles, pharmaceuticals, and leather, highlighted these demands. 

In a written statement, Hatem expressed concerns over the fire, stating it exposed significant weaknesses in the Cargo Village’s security system, potentially causing a Tk 12,000 crore loss.

Hatem emphasised that the incident revealed ineffective security measures at the Cargo Village, leading to substantial financial losses and tarnishing Bangladesh’s reputation among international buyers. 

Despite long-standing complaints from exporters about insecurity, mismanagement, and theft at the facility, no effective measures have been taken by authorities.

The fire, which broke out around 2:30 pm last Saturday, impacted key export sectors, including pharmaceuticals, garments, agricultural products, fruits, and frozen foods. 

EAB warned that the incident could raise concerns among foreign buyers, potentially affecting future export contracts.

Hatem urged the government to treat the incident with urgency and implement measures to prevent future occurrences. 

Traders also demanded modernisation of the Cargo Village’s security systems, establishment of air-conditioned warehouses for pharmaceuticals, construction of chemical warehouses at safe distances, and adoption of fully automated, technology-driven warehouse management systems.