The high interest rate remains in the banking sector due to the default loan, says Toufic Ahmad Choudhury, former director general of Bangladesh Institute of Bank Management (BIBM).
Parliament passes the Tk 5,23,190 crore national budget for 2019-20 fiscal themed as “Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh.”
The parliament passes the Finance Bill 2019 with some changes in value-added tax (VAT) and in the policy of capital market and handloom industry.
Prime Minister Sheikh Hasina describes the proposed budget for FY 2019-20 as people-friendly, development-oriented and balanced one, saying that everyone will be benefitted by the budget as it will help continue the pace of ongoing development.
Lawmakers from treasury and opposition benches lambaste Finance Minister AHM Mustafa Kamal for keeping insufficient allocation for education, health and culture sectors in the proposed budget for 2019-20 fiscal year.
Senior Awami League leader Matia Chowdhury lambastes Finance Minister AHM Mustafa Kamal for increasing tax on family savings certificate from five per cent to 10 per cent in the proposed budget for 2019-20 fiscal.
The National Board of Revenue expects to collect about Tk 11,000 crore more for imposition of VAT on various goods and services and increasing rates on many others, said its officials.
The continuation of concessionary duties on raw material import for motorcycle manufacturers into fiscal 2019-20 would help the fast-growing sector, said market players.
Many importers are not receiving delivery of their goods after five per cent of advance tax (AT) was imposed on almost all kinds of imported goods including raw materials and machinery under the new VAT law.
A group of non-government organisations have called upon the government to reconsider the budgetary allocation for people with disabilities.
Opposition lawmakers yesterday came down heavily on the government for its failure to ensure fair price of paddy and check money laundering, soaring loan defaults and black money.
Apparel exporters yesterday voiced their dissatisfaction with the 1 percent cash incentive handed to them in the proposed budget for
Nagarik Oikya Convener Mahmudur Rahman Manna says the proposed budget for fiscal year 2019-20 is not pro poor people rather it will make the rich even richer.
Ruling Awami League yesterday claimed that the proposed budget is “people-friendly”, but said its implementation will be challenging.
The Association of Mobile Telecom Operators of Bangladesh (AMTOB) yesterday criticised the proposal to raise the supplementary duty on mobile phone use by 5 percentage points from fiscal 2019-20, terming it a “suicidal decision”.
The new VAT law may increase cost of many goods and services and hurt consumers, analysts said yesterday.
The government’s move to implement the new VAT law without rebate facility for reduced rates will hurt consumers because of price spike of many goods and services, analysts say.
Gonoforum rejects the proposed national budget for 2019-20 fiscal terming it as frustrating and anti-people.
Awami League General Secretary Obaidul Quader today said the proposed budget for fiscal 2019-20 is pro-people and there is no negativity in it.
