Budget challenging but pro-business : FBCCI

Country's apex trade boy hailed overall tenor of the proposed new budget as 'business-friendly' and urged the government to implement it with skilled management able to get over the challenges.  
President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Matlub Ahamad made the remarks while talking to journalists on Saturday at the Federation office in Dhaka.
"The FBCCI believes that the declared budget will be able to fulfill the demand of the people. We think the government had tried to make a growth-oriented, businesses,-investment-and industry-friendly budget," he said in his post-budget reaction.
While terming the budget 'challenging' he called upon the government to ensure well management for implementing it.   
He also demanded of the government to contain the prices of essential commodities during the upcoming month of Ramadan and not to impose value-added tax (VAT) on the iftar items.
The apex trade body also suggested taking development policy that is environment-friendly, power-saving and focused on renewable energy.
It called for facilitating home loan at reduced rates of registration cost for real-estate sector.
"We are extensively analysing the proposed budget. We are receiving suggestions from member organisaitons of the FBCCI. We will place our post-budget proposals with the government after consultation with the chambers and associations' leaders," Mr Ahamad said.
The newly elected FBCCI chief hoped that the government would consider their post-budget suggestions.
Mr Ahamad, also chairman of Nitol-Niloy Group, advocated that people having money but enjoying government facilities should pay taxes for development of the country.
Replying to a question he said there was no meeting between Bangladesh and Indian businessmen during Prime Minister Narendra Modi's visit.
He, however, said they are expecting business-to- business discussions between the two countries in future.
The business leader called upon the government to reduce customs duty on import of industrial raw materials to 1.0 per cent from 5.0 per cent, withdraw 30 per cent supplementary duty on microbus and consider import of reconditioned hybrid care and provide continued incentives for export-oriented industries.    
"We are expecting the government to control inflation during the upcoming month of Ramadan due to salary hike for the government employees," First Vice-President of the FBCCI Md Shafiul Islam Mohiuddin said.  
talhabinhabib@yahoo.com