The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) does not support the chance of whitening black money as it would discourage honest businessmen.

What is more, such opportunity may encourage people to flight money abroad, said Md Jashim Uddin, president of the FBCCI.

Honest taxpayers will consider flighting money the most effective way for tax payment when he/she will see whitening of black money is possible with only 7 per cent tax instead of the regular 25 per cent, he said.

FBCCI President Md Jashim Uddin shares the apex trade body's post-budget reaction, at a press briefing at FBCCI auditorium in Dhaka today. Photo: FBCCI

His comments came in a press briefing where the FBCCI expressed its budget reaction at its office auditorium in Dhaka today.

In the meeting, the apex trade body welcomed the government for taking several business-friendly measures.

However, the apex trade body also opposed several steps proposed by the government.