FBCCI President Md Jashim Uddin said the country is still going through the pandemic where the utmost priority should be saving lives and then maintaining the livelihood.
“Vaccination is very important as the whole world, especially Europe and America, is now moving fast with vaccination. If we can’t keep up the pace, then we’ll fall into trouble, and our exports will get stopped,” he said.
Noting that the proposed budget for FY22 has covered almost all the areas, the president of the country’s apex trade body has demanded the government withdraw the provision for advance income tax (AIT) and advance VAT.
He suggested setting up tax and VAT offices at the upazila level to further boost the revenue collection and thus enhance the tax-GDP ratio in the country.
Laying emphasis on further strengthening the NBR, Jashim said the businesses want to pay taxes, but the procedures should have to be simplified further.
He also said there is no alternative to improvement in infrastructures to face the LDC graduation challenges.
The FBCCI president also proposed awarding another stimulus package for the micro and small entrepreneurs where the apex trade body could work as a link between the small and micro entrepreneurs and the banking system.
“The small and micro enterprises are driving forward the country’s economy.”
BGMEA President Faruque Hassan said the economy of Bangladesh has performed very well compared to other countries despite the Covid-19 pandemic due to the resilience in inward remittance and exports.
He, however, noted that there was no such private investment in the country over the last one and a half years due to this deadly virus.
He said without such a huge level of private investment, there would not be necessary employment generations.
Underscoring the need for bringing the country’s people under vaccination, Faruque said the country is still lagging behind in vaccination, but the major export destinations like the EU, the USA and the UK have advanced a lot in this drive.
The BGMEA president said they would not need any stimulus package, if the ease of doing business index is improved to a desired level and thus the businesses could save valuable time.
Citing the high potential of non-cotton apparel, he said the garment makers are now ready to go big in this area, but need some policy support and incentives from the government, which could help them further flourish and thus could generate more jobs.
He also said ration card system could be introduced to reach essential items to RMG workers at an affordable price, BTRC could help to provide transport facilities to the workers while housing facilities could be provided to the workers on government khas lands.
Executive Director of RAPID Dr Abu Eusuf presented the Keynote paper. ERF President Sharmeen Rinvy presided the event while ERF General Secretary SM Rashidul Islam moderated it.
Source: United News of Bangladesh