Mahmood Ali seeks active pvt sector participation in budget formulation

FBCCI chief meets Finance Minister

FE Team | Published: January 22, 2024 23:50:12

Finance Minister Abul Hassan Mahmood Ali emphasised the need for the private sector's active participation in all his ministry's initiatives, including formulation and implementation of the national budget.
He made this comment when president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI)called on finance minister on Monday, reports UNB.
The minister also said that FBCCI's proposal will be seriously considered in the upcoming national budget.
Ali also assured that the Ministry of Finance will stand by with protection and policy support to local businessmen and industrial entrepreneurs to ensure sustainable economic growth.
FBCCI chief urged the Finance Minister to implement appropriate measures to ensure stable prices of daily essentials during the upcoming Ramadan.
Alam emphasized the importance of formulating a business-friendly budget for the next fiscal year to maintain normal commodity prices.
The FBCCI also called for necessary initiatives to prevent disruptions in the import and supply chain of essential commodities, particularly in light of the ongoing dollar crisis.
In addition, Mahbub drew the attention of the finance minister to ensure the necessary arrangements for opening LCs to help small and medium entrepreneurs open LCs and buy dollars at the rate announced by Bangladesh Bank.
The FBCCI president highlighted the need to further improve cooperation between the private sector and the National Board of Revenue (NBR).
The FBCCI wants to work closely with various departments and organizations of the government, including the NBR.
He also commented that with the expansion of business, trade and industry in the country, it is possible to increase the revenue collection of the government at a significant rate through the simplification of tax management, establishment of transparency and accountability, and automation.
FBCCI Secretary General Md. Alamgir and the ministry officials were present then.