Economic Reporter :
International Business Forum of Bangladesh (IBFB) termed the proposed budget for fiscal year 2017-18 (FY18) as acceptable and rational in consideration of the country’s economic growth and expansion of business.
“The budget of Tk 400,266 crore for FY 2017-18 is not a luxurious one. We think that according to our economic growth and business expansion, it is acceptable,” IBFB president Hafizur Rahman Khan said at a press conference on Wednesday.
He said in order to foster the overall economic development and strengthen the economy there is no alternative to creative and target oriented budget.
“IBFB believes that, to make Bangladesh a middle income nation by 2021 and a peaceful developed country by 2041, a diversified, expanded and implementable budget is highly essential,” he added.
Khan said imposing additional excise duty on bank deposit will allow government to generate extra Tk 210 crore but it will create huge concern at all the levels and appealed for withdrawing this additional excise duty to free up the citizen from tension.
The IBFB president welcomed the proposal to increase the special duty on filter and non-filter Bidi which will discourage the ordinary people from smoking at least to some extent.
Expressing frustration at increasing duty on solar panel, he said additional duty on solar panel will increase its price level which will reduce the solar panel installation rate to a larger extent and consequently, the green job generation will be affected in the country.
International Business Forum of Bangladesh (IBFB) termed the proposed budget for fiscal year 2017-18 (FY18) as acceptable and rational in consideration of the country’s economic growth and expansion of business.
“The budget of Tk 400,266 crore for FY 2017-18 is not a luxurious one. We think that according to our economic growth and business expansion, it is acceptable,” IBFB president Hafizur Rahman Khan said at a press conference on Wednesday.
He said in order to foster the overall economic development and strengthen the economy there is no alternative to creative and target oriented budget.
“IBFB believes that, to make Bangladesh a middle income nation by 2021 and a peaceful developed country by 2041, a diversified, expanded and implementable budget is highly essential,” he added.
Khan said imposing additional excise duty on bank deposit will allow government to generate extra Tk 210 crore but it will create huge concern at all the levels and appealed for withdrawing this additional excise duty to free up the citizen from tension.
The IBFB president welcomed the proposal to increase the special duty on filter and non-filter Bidi which will discourage the ordinary people from smoking at least to some extent.
Expressing frustration at increasing duty on solar panel, he said additional duty on solar panel will increase its price level which will reduce the solar panel installation rate to a larger extent and consequently, the green job generation will be affected in the country.
