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.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urges the government to manage fund from other sources rather than banking channel to finance the deficit financing in 2019-20 fiscal.
Transparency International Bangladesh (TIB) yesterday strongly condemned the proposed amnesty for black money in the budget for fiscal 2019-20 and termed it “unconstitutional, immoral and discriminatory”.
At a time when the government should be encouraging virtual businesses, Finance Minister AHM Mustafa Kamal has proposed 7.5 percent value-added tax on them in his budget for fiscal 2019-20, making their services dearer.
Leading business associations yesterday urged the government to ensure easy, hassle-free and business-friendly implementation of the new VAT law.
Terming the proposed national budget “highly ambitious”, the BNP yesterday said the people of the country would not accept the budget as it would increase inequality.
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
Main political opposition BNP terms the budget for fiscal 2019-20 highly ambitious.
The proposed national budget for 2019-20 fiscal year will ensure facilities only to high-income people, says Centre for Policy Dialogue (CPD) distinguished fellow Dr Debapriya Bhattacharya.
Bangladesh government has planned to build 60 thousand flats under the public-private partnership (PPP) system in Purbachal, which is a new city of Dhaka.
In a push to widen the social safety net, the government decided to include all registered differently abled people, and more marginalised and vulnerable ones under its protection.
