Bangladesh’s real wage growth remained negative for the 41st consecutive month in June, even as the inflation rate eased to its lowest level in nearly three years, according to the latest data from the Bangladesh Bureau of Statistics (BBS).
Bangladesh’s average wage growth remained negative for the 41st consecutive month in June, even as the inflation rate eased to its lowest level in nearly three years, according to the latest data from the Bangladesh Bureau of Statistics (BBS)..Year-on-year, wage growth stood at 8.18 percen
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The interim government is likely to scrap the provision that allows black money to be legalised through the purchase of apartments and land in the next fiscal year (FY) 2025-26, amid criticism from civil society groups, think tanks and watchdogs.
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The government proposes sharply increased commercial vehicle tax; operators warn of rising prices.
In a bid to accelerate the shift to cleaner transport and promote domestic manufacturing, the interim government plans to roll out a series of tax benefits focusing on electric vehicles, including electric bicycles (e-bikes), and lithium and graphene batteries.
The government’s revenue collection in the first two months of the current fiscal year has been 11 percent lower year-on-year, which the tax administration attributed to the recent political unrest and the interim government’s emphasis on doing away with inflated figures.
Duty exemptions provided by the National Board of Revenue (NBR) have been increasing over the years despite Bangladesh’s low tax-to-GDP ratio and the International Monetary Fund’s (IMF) recommendation to rationalise such expenses.
Inflation eased in August but remained at over 10 percent, as higher prices of goods and services continued to strain the purchasing power of consumers.
The scope for legalising undisclosed income without facing any questions remains as the tax administration has not scrapped the provision of whitening black money in case of the purchase of flats and land, raising criticism.
Fresh vegetable and fruit exporters are apprehending a drop in sales of perishables following a hike in cargo freights, particularly by Biman Bangladesh Airlines, last month..Biman, the state carrier, hiked cargo fares in August anywhere from 56 percent to 150 percent depending on the rout
Industrial output in Bangladesh grew at its slowest pace since the Covid-19 pandemic, hitting 6.66 percent last fiscal year owing to declining exports, import restrictions and a slowdown in domestic demand due to persistent inflation.
Persistent inflationary pressure, particularly in terms of food inflation, has been taking a toll on low- and fixed-income people in Bangladesh, forcing them to spend most of their income on nutrition.
Fatima Khatun, dressed in a washed-out kameez, came to Muslim Bazar in Mirpur 12 to shop with her four-year-old son on August 16.
Vandalism and arson attacks on factories since earlier this month have created deep concerns among entrepreneurs and plunged thousands of employees who work in these firms into uncertainty.
Although the authorities took steps to eliminate mismatches in export data in recent months, discrepancies in the data of revenue collection and expenditure among government agencies continue to persist.
