Mentioning that the price hike of daily essentials and other products has created anxiety among both businessmen and consumers alike, business leaders on Wednesday urged the government to address their woes and challenges in the upcoming national budget for 2022-23.
The observations came up at a webinar titled, “Budget expectation 2022-23”, jointly organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and RTV on Wednesday.
Speakers at the webinar called for making the budget inclusive and also called upon the government to emphasise the education curriculum in the budget to resolve the skilled employment crisis in different trade sectors of the country.
The businessmen also urged the government to put emphasis on local industries and take initiative to reduce the cost of doing business in the country.
In response to the demands from the businessmen, Agriculture Minister Muhammad Abdur Razzaque said the next budget will be an inclusive budget where both rich and poor will get priority.
“We will emphasise the agriculture and industry sectors to continue economic growth. The government is farmer-friendly, so we are providing 70 per cent subsidy on agro machinery import,” he added.
Commerce Minister Tipu Munshi said the country will be deprived of several facilities after attaining LDC graduation in 2026. Therefore, the upcoming budget will be challenging.
Presiding over the function, FBCCI President Md Jashim Uddin said all businesses and consumers are worried due to the Covid-19 pandemic and Ukraine–Russia war as prices of essentials keep hiking due to these crises.
“So, the upcoming budget should consider everyone,” he also said.
Bangladesh Steel Re-Rolling Mills Ltd (BSRM) Managing Director Aameir Alihussain said the budget should be industry-friendly so the cost of doing business is reduced.
“The government should reduce electricity bills and decline the rate of taxes,” he urged.
Dhaka Chamber of Commerce & Industry (DCCI) President Rizwan Rahman urged the government to reduce corporate taxes by 2.5 per cent to sustain the competitive market.
Meanwhile, Centre for Policy Dialogue (CPD) Executive Director Dr Fahmida Khatun suggested increasing the allocation of the social safety net for SMEs and the poor in the next budget.
