CHATTOGRAM, June 02: Business leaders in Chattogram have largely expressed their support for the proposed national budget for the 2023-24 fiscal year, considering it a pro-development measure that will contribute to transforming Bangladesh into a smart country.
The Chittagong Chamber of Commerce and Industry (CCCI) commended the budget, highlighting its potential to drive progress and economic growth.
The Chittagong Metropolitan Chamber of Commerce and Industry (CMCCI) also hailed the budget as pro-development and pro-people, acknowledging its positive impact on the lives of the citizens.
However, both business bodies stressed the importance of addressing corruption to ensure effective governance and successful implementation of the budget. Besides, the business leaders noted the need for certain amendments regarding the taxation of individual income.
In a budget reaction, CCCI President Mahbubul Alam said that the new budget will facilitate industrialisation and development.
He said, "The introduction of a pension for all, an increase in the allowance for the social safety net, the allocation for the expansion of Chittagong Medical College Hospital to accommodate 2,200 seats and the establishment of a leather city in Chattogram are positive indicators of the new budget."
The CCCI president also acknowledged that foreign loans may exert pressure on the implementation of the budget.
He proposed raising the income limit to Tk 4 lakh for imposing taxes.
Meanwhile, CMCCI President Khalilur Rahman in his budget reaction commented that the new budget may face the ongoing global economic turbulence.
The CMCCI president said, "The budget can contribute to ensuring good governance by reducing corruption. If the government can guarantee transparency in development projects, they can effectively implement the current budget."
He also expressed confidence that Prime Minister Sheikh Hasina's strong leadership will overcome any obstacles, despite the pressure created by foreign loan repayments.
Khalilur Rahman proposed the elimination of all base taxes on the readymade garment (RMG) sector to boost exports. He also emphasised the importance of monitoring mega-projects to prevent budget overruns due to implementation delays.
He extended his gratitude and thanks to Prime Minister Sheikh Hasina for her continued efforts in developing the country and presenting a visionary budget aimed at making Bangladesh a smart nation.
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