Finance News: Latest Financial News, Finance News today in Bangladesh

Corporate tax rate cut by 2.5pc for listed cos

The government has proposed a cut in the corporate tax rate by 2.5 per cent for listed companies with a condition that all financial transactions will be conducted through banks.The government has offered the tax benefit in an effort to lure more companies to go public with more free-float shares.In...

Non-RMG sectors to enjoy equal tax rate

The country's export-oriented non-RMG (non-readymade garment) sectors -- both goods and services -- are going to enjoy an equal corporate tax rate as given to the garment sector in the next fiscal year of 2022-23.The finance minister has proposed to introduce a 12 per cent and 10 per cent tax...

Stocks end flat as budget unveiled

Stocks ended nearly flat on Thursday, as investors mostly followed cautious stance just ahead of unveiling the national budget.Finance Minister AHM Mustafa Kamal unveiled the national budget for the Fiscal Year (FY) 2022-2023 on Thursday evening.DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 3.95 points...

Cash incentive on remittance to continue

The cash incentive on remittance income at the existing rate of 2.5 per cent would continue in the next fiscal year (FY 2022-23).The measure was proposed in the new national budget placed in parliament on Thursday, aimed at encouraging the wage earners to send home their hard earned money through...

13K borrowers make loans regular

At least 13,307 borrowers have made their loans regular by taking the policy support within the scheduled timeframe, finance minister AHM Mustafa Kamal says.'Debt Rescheduling and One-time Exit Special Policy-2019' was issued to reduce defaulted loans and give a chance for real businessmen to continue their business with a rescheduling...

Agri receives record 6.5pc

Allocation for the broader agricultural sector, including crop, livestock, fisheries and farm subsidy, increased to over 6.5 per cent (Tk 445 billion) of the proposed 2022-23 fiscal year (FY) budget.The amount for the same was 4.78 per cent in FY22.Rising farm input and livelihood costs, increased funds for research in...

Allocations in budget

Digital currency, bank planned

Introducing Central Bank Digital Currency (CBDC) in Bangladesh is planned in what is seen as the process of building up a financial system alternative to the traditional physical finance. Finance Minister AHM Mustafa Kamal lays out a plan for the transition in keeping with global transformation of financial system, dubbed...

Stimulus schemes to continue in FY 23

The government will continue implementation of the stimulus programmes in the next fiscal year (FY), 2022-23, taken to help the economy make recovery from the Covid-19 pandemic impacts."The stimulus programmes will continue in the coming fiscal year to further accelerate the pace of development by speeding up the recovery process...

$25b investment in EZs likely

Economic zones (EZs) across the country have drawn a proposed investment of an estimated $25 billion through land allocation to 196 entities.Moreover, the investment in private economic zones is approximately $4.0 billion, finance minister AHM Mustafa Kamal says in his budget speech."The establishment of 100 economic zones in the country...

Tk 531.55b proposed for PPP projects

The proposed budget for FY 2022-23 has allotted Tk 531.55 billion in support of the public-private partnership (PPP) as the government has 79 projects in the pipeline. "For public-private partnership (PPP), financial assistance to different industries, subsidies, equity investments in state-owned, commercial and financial institutions, a total of Tk 53,155...

Energy sector gets Tk 260b allocation

The power and energy sector will receive an allocation of Tk 260.66 billion in FY'23, 5.16 per cent lower than the Tk 274.84 billion allocated for the outgoing FY'22, according to the proposed national budget for the upcoming fiscal year.Presenting the budget in Parliament on Thursday, Finance Minister AHM Mustafa...

Govt eyes more elevated expressways, bridges

The government plans to build more elevated expressways and large bridges integrating the ongoing bridges, flyovers and tunnels in the country. "Steps are being taken to build more elevated expressways and large bridges integrating the ongoing bridges, flyovers and tunnels," said Finance Minister AHM Mustafa Kamal in his budget speech...

Budget Speech

In the name of Allah, the Most Gracious,the Most Merciful Blessed is the One in Whose Hands rests all authority. And He is the Most Capable of everything. Chapter One Madam Speaker 1. I, A H M Mustafa Kamal, Finance Minister, with your kind permission, am placing the supplementary budget...