Business Report :
Although some steps were taken in the right direction, the measures proposed in the budget for the upcoming fiscal year centring macroeconomic stability, trade and investment are insufficient, experts and businesspeople opined in a discussion.
They made the remarks during a “Post-Budget Panel Discussion” held by the American Chamber of Commerce in Bangladesh (AmCham) in the capital on Monday.
Those present recommended placing more emphasis on combatting the foreign reserve crisis, finding alternatives to increase export revenue and adjusting the tax-free income limits as well as tax and VAT policy.
Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industries, attended the discussion as chief guest.
M Masrur Reaz, chairman of the Policy Exchange Bangladesh, moderated the discussion and also presented an overview of the proposed national budget for fiscal year 2024-25.
Reaz said the new budget faces three types of uncertainties: ensuring adequate revenue collection, managing the ballooning fiscal subsidy and managing the financing of the growing fiscal deficit.
In his presentation, Reaz said duties have been reduced on only a few essential items despite high inflation, with uncertain impacts on consumer prices.