News Desk :
The government’s plan to counter the huge budget deficit by borrowing heavily from the banking system has left businesses anxious about the flow of credit into the private sector.
In an immediate response to the FY23 budget, the Federation of Bangladesh Chambers of Commerce and Industry said on Thursday the Tk 1 trillion target would affect industrialization, reports bdnews24.com
Finance Minister AHM Mustafa Kamal has designed a Tk 6.78 trillion budget with a Tk 2.45 trillion deficit.
“The government should prioritise collection of foreign currencies instead of borrowing from the banking sector,” said Md Jashim Uddin, president of FBCCI.
Kamal’s proposals on tax at source and advance tax also frustrated Jashim.
“We’ve been talking about these for a long time, calling for some adjustment, but the budget does not reflect these issues. It will put our local industry and suppliers in great problem.”
