ZCZC
BSS-37
KAMAL-MEETING-PRE BUDGET
Next budget’s key aim to expand domestic economy: Kamal
DHAKA, April 8, 2021 (BSS) – Finance Minister AHM Mustafa Kamal today said that one of the major targets of the next national budget for 2022 fiscal year (FY) is to further expand the domestic economy and to flourish the local industries alongside generating more revenues.
“Every budget has some goals and ours one in the next budget is to make the domestic economy much more broad-based and to define it further with its huge growth ,” he said.
Kamal said if the government could accomplish these successfully, then the common people would get motivated to make more savings thus their disappointments whatever they have would come to an end.
The Finance Minister was briefing reporters virtually after holding a pre-budget meeting with the leaders of 12 business bodies and associations including the country’s apex trade body Federation of Bangladesh Chamber of Commerce and Industry (FBCCI).
FBCCI President Sheikh Fazle Fahim, among others, took part in the discussion.
The top leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Textiles Mills Association (BTMA), Bangladesh Leather Goods and Footwear Manufacturers and Exporters Association, Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka Chamber of Commerce and Industry (DCCI), Chattogram Chamber of Commerce and Industry (CCCI), Bangladesh Women Chamber of Commerce and Industry (BWCCI) , Foreign Investors Chamber of Commerce and Industry (FICCI), Women Entrepreneur Association of Bangladesh (WEAB), and E Commerce Association of Bangladesh took part in the discussion.
The Finance Minister said the government aims to generate more revenues in the coming days side by side would keep special attention so that the common people and the business community are not harassed or incur losses.
“We want to further flourish our domestic Industries. If we are able to do so, then our revenue generation will be increased to a great extent as well as there will be more employment generation,” he said adding that generating more revenues and creating more employments would remain as the approach of the government for the coming days.
Asked about the major demands from the business community for the next budget, Kamal said the business bodies have demanded for extending the timeframe of various facilities that they are enjoying due to the surge of COVID-19 pandemic.
He said that the business leaders have acknowledged the benefits from the 23 stimulus packages announced last year by Prime Minister Sheikh Hasina to offset the shock of the pandemic.
Kamal said they also suggested for increasing the amount of support in some specific areas as well as bringing new areas for providing facilities.
He said the business community leaders in the meeting have put forwarded their suggestions and opinions centering the next budget where tax-related issues predominantly came up in the discussion.
The Finance Minister said the government would definitely consider those suggestions and opinions from the business community which would be deemed beneficial for the country as well as welfare-oriented for the people.
He said the demands raised from the business community are not irrational. “The number of demands always remain high, but to what extent we can implement it depends on a number of things. I will sit and interact with my budget team as well as with the concerned officials of the Finance Division, Bangladesh Bank, NBR before finalizing the budget,”
When asked whether there was any demand from the business leaders over the provision for whitening undisclosed money, Kamal said there was no such discussion or proposal over the matter in today’s meeting.
He, however, said that the business community has given separate letter to the Finance Division and NBR regarding their various proposals over the budget.
Replaying to a question, the Finance Minister said he would have to hold a series of meetings before finalizing the budget for the next FY.
Answering to a question on the possible support measures from the government to lessen the sufferings of the low-income people during this pandemic, he said the present government, under the dynamic leadership of Prime Minister Sheikh Hasina, has been working tirelessly so that the lives and livelihood of people are not affected amid the new surge in the COVID-19 cases.
Kamal said the Premier always considers this matter with utmost priority and she would give her level best to do whatever is needed for the welfare of people in due time.
He told another questioner that the Finance Division had acted upon the directives from the Prime Minister to deliver the cash support and other supports to people to lessen their sufferings amid the pandemic last year.
“I think the Prime Minister has some thoughts apparently for this year also to increase the support and also to control the surge of the pandemic…….she (PM) will do whatever is needed.”
BSS/ASG/GM/SKB/ 1910 hrs