Budget to help boost industrialisation: BCI

The Bangladesh Chamber of Industries (BCI) has hailed the proposed national budget for the upcoming fiscal year (FY), 2015-16.
BCI in a statement on Friday said the proposed budget would be helpful to boost industrialisation and investment in the country.
However, the government's borrowing of Tk 385 billion (38,500 crore) from the banking system might have a negative impact on the private sector entrepreneurs, it also said.
BCI mentioned that both earning black money and investing it are unjust and illegal. The country's legal money-earners will be discouraged by these.     
Using black money for purchasing lands, flats and plots will increase land price, and thus create a hindrance to the country's industrialisation. There should be an opportunity to invest undisclosed money in the industrial sector, the chamber opined.
BCI, however, believed that the reduction of duty on import of capital machinery to 1.0 per cent from 2.0 per cent will help boost the country's industrialisation and investment.
Public-Private Partnership (PPP) initiative can contribute to the country's economic development. But, there is no realistic step about PPP in the budget, it added.
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