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Electricity for all by next year, hopes Kamal

The government has set a target to ensure electricity for all within the next one year."Currently, the country's power generation capacity has increased to 21,169 megawatts (MW). We have succeeded in providing access to electricity to approximately 93 percent of the total population," said Finance Minister A H M Mustafa...

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Cancer drugs to get cheaper

The government has waived the duty on raw materials for cancer drugs in the proposed national budget for the upcoming fiscal year (FY) 2019-20.This waiver will help make cancer medicines cheaper for patients in the country.Presently, the duty on two such raw materials, Mitotane and Brigatinib, is 10 per cent....

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CCCI, CMCCI call for cut in VAT

CHATTOGRAM, June 13: Chattogram Chamber of Commerce and Industry (CCCI) and Chattogram Metropolitan Chamber of Commerce and Industry (CMCCI) welcomed the budget for the next fiscal year and termed it pro-development.Mahabubul Alam, president of CCCI, said, "The budget of Sheikh Hasina government is a dream towards development of the country."...

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Pension scheme for both formal, informal institutions on the cards

The government is planning to introduce a universal pension scheme for both formal and informal institutions operating in the country. To this end, a "Universal Pension Authority" will be formed soon for gradual introduction of the universal pension scheme for everyone including all employed in formal and informal sectors of...

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GDP growth set at 8.20pc for FY’20

The government has set an 8.2 per cent economic growth target for the fiscal year, 2019-20, aiming to raise it on to a higher trajectory within the next few years.The Gross Domestic Product (GDP) growth target is 0.07 percentage points higher than the 8.13 per cent provisionally estimated figure during...

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Govt eyes investment-GDP ratio at 32.8pc

The government has set a target to expand the country's investment-GDP (Gross Domestic Product) ratio to 32.8 in the next fiscal year (FY), 2019-20.In the outgoing FY 2018-19, the Bangladesh Bureau of Statistics (BBS) provisional data showed that the investment-GDP ratio was 31.6 per cent.The government has targeted to raise...

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Target to contain inflation at 5.5pc

The government has set a target in the new budget to keep the inflation rate at a comfortable level of 5.5 per cent in the next fiscal year (FY) 2019-20.Up to March of the outgoing FY2019, the rate of inflation was recorded at 5.4 per cent against the preliminary target...

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Bank borrowing set to grow 53pc in FY’20

The government has targeted higher borrowing from the country's banking system to partly finance the budget deficit for the fiscal year, 2019-2020.The borrowing is set to jump by more than 53 per cent to Tk 473.64 billion for the FY' 20 from Tk 308.95 billion in FY'19, according to the...

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Kamal cuts social sector subsidy

The budget for the upcoming fiscal year (FY), 2019-20, proposed by Finance Minister A H M Mostafa Kamal on Thursday, contains an allocation of Tk 334,590 million for subsidies and incentives, which is 6.4 per cent of the budget.Apart from public services, most of these subsidies are usually meant for...

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