DHAKA, May 1, 2018 (BSS) – Finance Minister Abul Maal Abdul Muhith has said the government will give priority on power and energy, infrastructure, education and health sectors in the upcoming national budget for fiscal 2018- 19.
The minister revealed it while the Board of Directors of Dhaka Chamber of Commerce and Industry (DCCI), led by its President Abul Kasem Khan, called on him at his ministry office yesterday afternoon, said a press release.
Muhith said the budget for fiscal 2018-19 will be placed in the Jatiyo Sangsad on June 7 with an amount of Taka 460,000 crore.
RMG export is now about $ 35 billion and this sector will dominate the export sector in the long run also, said Muhith stating leather is one of the potential sectors which is doing well in the export market.
Replying to a demand of cutting corporate tax, the Finance Minister said the government will consider reducing the corporate tax rate.
Regarding non-performing loan (NPL), he said the present NPL is in considerable level.
The Finance Minister said the government will reconsider the rate of government savings in the upcoming budget.
DCCI President placed a budget proposal to the Finance Minister, and said Bangladesh needs to accelerate its growth to 5 to 10 percent. To attain 8 percent GDP growth, he said, Bangladesh has to attract foreign and local investment.
Abul Kasem Khan also proposed for reforming business friendly policies, reducing infrastructural challenges, tax policy and skill development. “Our investment to GDP ratio needs to be increased from present position of only 29 percent to nearly 35 percent to accelerate development.”
He proposed for forming National Infrastructure Development and Monitoring Advisory Authority (NIDMAA) for accelerating implementation of mega infrastructure projects.
DCCI Senior Vice President Kamrul Islam, Vice President Riyadh Hossain, and Directors Andaleeb Hassan, Hossain A Sikder, humayun Rashid, K M N Manjurul Hoque, Mamun Akbar, Alauddin Malik, Engr. M Al Amin, Mohammad Bashir Uddin, Nuher Latif Khan, SM Zillur Rahman and Waqar Ahmed Chowdhury were also present.