Recession safeguard to figure in budget
National Board of Revenue (NBR) chairman yesterday said the ways to offset the fallout stemming from the global recession and materialise the dream of “Digital Bangladesh” will figure high in the budget for the next fiscal year (2009-2010).
Muhammad Abdul Mazid called upon all not to be panicked amid recession and said every crisis will have to be tackled with patience and the economic power Bangladesh has.
He was addressing a pre-budget view-exchange meeting organised by Chittagong Chamber of Commerce and Industry (CCCI) at its conference room.
The NBR boss said recession will cast a negative impact on foreign currency inflow, and called for restraining from importing unnecessary and luxury goods and those available in the country to help ease the crises.
“Import substitutes and export-oriented industries are also being emphasised in the upcoming budget and the pace of our economic growth should be kept through creating domestic demand,” Abdul Mazid said.
All necessary initiatives to materialise the dream of “Digital Bangladesh” within the declared timeframe will be included in the budget, he added.
Terming the cooperation between the government and the business community inevitable, the NBR chairman said they have to work amid limitation of legal, logistic and manpower supports.
He however declined to make any advance comment on the budget, saying any speculation over the budget might create impact on the economy.
CCCI President MA Latif presided over the meeting, while NBR Member Farid Ahmed, CCCI Senior Vice President MA Salam, Vice President Shafiul Haque, BGMEA First Vice President Nasir Uddin Chowdhury, trade body leaders, customs and VAT officials and CCCI directors were present.
The business leaders brought allegations of hassles during export and import through the customs house and urged the NBR boss to take immediate steps for easing the problems. They demanded round-the-clock services at the customs house and amendments to some laws related to customs activities.
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