Leaders Of Bangladesh Textile Garment Manufacturers Association On Budget Differences

In June 9, 2011, the leaders of Bangladesh business association disagreed on the newly released budget.

AKAzad, chairman of the Bangladesh chamber of Commerce and industry, said: local banks will finance the annual development plan (ADP) due to massive government loans, leading to the bank.

For this reason, the chairman appealed to the government to subsidized the ADP. by means of raising foreign capital. Meanwhile, the chairman also said: the Ministry of finance will pport the main pport vehicles and double cabin trucks in the industry.

AsifIbrahim, chairman of the Dhaka chamber of Commerce and industry, said: the budget proposal is too impractical for value-added tax, and the export tax rate will also make local garment manufacturers lose competitiveness.

MurshedMuradIbrahim, chairman of the Chittagong chamber of Commerce and industry, said: the proposal will expand the scope of Taxation and create obstacles for small to medium sized enterprises. It also calls on the government to attach importance to the development of shipbuilding industry.

Shafiul Islam Mohiuddin, chairman of the Bangladesh garment manufacturing and Export Association, also agreed with the views of I chairman, and criticized the government's economic stimulus plan launched 2 years ago, which has not yet been fully implemented.

M chairman expressed appreciation for the government's efforts to improve infrastructure and power shortages.

Jahangir Alamin, chairman of the Bangladesh Textile Mills Association, said that before the budget was released, the association had raised the requirement to raise the cash reward from 5% to 15%. However, the government did not agree and the authorities were very unhappy.

In addition, the Minister of finance will shorten the tax exemption period from 2015 to 2013 and will not disclose whether the industry will benefit from it.