Budget fails to meet expectations: FBCCI president

The proposed national budget for FY 2017-18 has failed to fulfill expectations, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Shafiul Islam (Mohiuddin) said today.

“Fifteen percent uniform VAT has been proposed in the national budget, which should have been decreased,” Mohiuddin said in his reaction over the budget placed today.

However, Muhith recommended in the budget to keep some daily essentials out of purview of the VAT which is a positive indication for common people, he said.

Muhith underscored the need for special economic zones to accelerate the country’s development and progress, the FBCCI boss said.

The government should take faster measures to attract business communities to the special economic zones, he added.

FBCCI will come up with a formal reaction later, the president said.