Dhaka: The Anti-Discrimination Reform Council of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the government to explore alternative methods for boosting revenue collection. Council convener Zakir Hossain Nayan emphasized the need for innovative strategies during a press conference at the Jatiya Press Club.
According to Bangladesh Sangbad Sangstha, Nayan recommended enhancing revenue by reducing expenditures in non-productive sectors and ensuring transparency. He also stressed the importance of broadening the tax net to relieve pressure on current taxpayers, rather than increasing tax rates.
Present at the event were former FBCCI Vice-President Abul Kashem Haider, President of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) Abdul Huq, and other key members of the council. They collectively highlighted the necessity of a business-friendly environment and efficient revenue management to expedite economic growth.
Nayan further urged the government to reconsider the decision to raise VAT and supplementary duty, keeping in mind the concerns of ordinary citizens. He suggested focusing on efficient gas usage and addressing illegal connections to support local industries instead of hiking gas tariffs.
The council also called for lowering bank loan interest rates, stabilizing foreign exchange rates, and ensuring a steady supply of essential goods and energy. Additionally, they advocated for measures to reduce traffic congestion, enhance port capacities, and strengthen trade facilitation.
Abdul Huq, addressing the gathering, alleged that a single business group had laundered $10 billion abroad, jeopardizing economic sovereignty. He demanded strict penalties for those involved in money laundering to prevent attempts at destabilizing the government with illicit funds.