Finance Minister AHM Mustafa Kamal
Top 20 loan defaulters have Tk 19,283.93 crore in debt
The top 20 defaulters in the country have a total debt of Tk 19,283.93 crore while the amount of defaulted loans is Tk 16,587.92 crore.
Kamal doesn’t know what is wrong with the banking sector
Islami Bank, Social Islami Bank and First Security Islami Bank lent about Tk 9,500 crore under suspicious circumstances, as reported by different media. Of the sum, Tk 7,246 crore has been taken from Islami Bank alone.
Govt seeks more cheap loans from WB
The government yesterday sought more loans in concessional terms from the World Bank despite being the largest recipient of such funding as well as more budget support as it looks to shake off the impacts of the pandemic and the Ukraine war.
Now $2b loan talks with WB begin
After the International Monetary Fund it is now its sister concern World Bank’s turn to negotiate economic reforms with the government for the prospective $2 billion financial support package sought to help the country weather the global economic turmoil.
Requesting IMF loan doesn’t mean anything is wrong with economy: Finance Minister
Confirming Bangladesh’s request for a loan from International Monetary Fund (IMF) Finance Minister AHM Mustafa Kamal has said that it does not mean the country's economy is in bad shape.
Inflation not nine-year high at 7.56%, it 5.9%: Kamal
Finance Minister AHM Mustafa Kamal criticised media for reporting that inflation hit a nine-year high in June.
A hike in fuel prices now will be too much to bear
Authorities must explore alternative options
JS passes Tk 17,524cr supplementary budget for FY 2021-22
Parliament today(June 13, 2022) passed the supplementary budget of Tk 17,524 crore for fiscal 2021-22 to meet the increased expenditures under different ministries and divisions.
Only 5.43% of total budget allocated for health sector
The health sector was yet again neglected in the national budget, with Finance Minister AHM Mustafa Kamal earmarking around Tk 36,864 crore -- 5.43 percent of the total budget -- for the sector.
6 challenges for Finance Minister
Finance Minister AHM Mustafa Kamal sees six major challenges for the fiscal year 2022-23:
Additional 1% cash incentive on garment exports to continue
The additional 1 per cent cash incentive on the export receipts of readymade garments would continue in the next fiscal year as the government looks to boost the shipment of clothing items.
5.6% inflation target set for FY2022-23
The government has set a 5.6 per cent inflation target in the proposed budget for the 2022-23 fiscal year although the prices of essentials and other commodities are persisting at higher levels.
Govt moves away from injecting funds into state banks
The government has no plans to inject capital into state-run banks as it has already taken several initiatives to put an end to this culture, Finance Minister AHM Mustafa Kamal said today.
Source tax may be doubled
The government proposed increasing the source tax on export proceeds to 1 per cent from the existing 0.5 per cent in the next fiscal year.
Chronology of Bangladesh’s national budget
Finance Minister AHM Mustafa Kamal is placing the national budget for fiscal year (2022-2023) at the Jatiya Sangsad.
Scope to whiten money through stocks to go
The finance minister has proposed abolishing the scope for whitening of black money through the stock market.
More excise duty for the rich
The bank accounts with balance over Tk 5 crore may have to pay more excise duty from the next fiscal year.
GDP growth target set at 7.5%
The Bangladesh government has set a target of 7.5 per cent growth of the country’s gross domestic product (GDP) in the upcoming fiscal year of 2022-23 beginning from July.
Mobile handsets to be costlier
The price of the handsets will go up as the government today proposed 5 percent value-added tax on mobile handset sales.