Decentralization of govt will be a priority issue, says Muhit

Finance Minister AMA Muhit said, the decentralization or devolution of the government will be one of the most important priority issues for the new government.  As a consequence of it the citizens may watch separate District Budget for all districts of the country by the end of five year’s tenure of the government, he said.

The minister was addressing in a meeting with a delegation of International Business Forum of Bangladesh (IBFB) held on Wednesday, says a press release.

Led by  Hafizur Rahman Khan, President of IBFB and Chairman of Runner Group of Companies, the IBFB delegation was comprised of  Md. Omar Shafayat Kausar, Vice President of IBFB and Managing Director, Bengal Bay Group,  Md. Humayun Rashid, Vice President (Finance) IBFB and CEO, Energypac,  Md. Atiar Zaman, Director IBFB and Managing Director, Palal Group, Ms. Priti Chakraborty, Director IBFB and Chairman, Aysha Memorial Specialised Hospital (Pvt.) Ltd., Dr. Muhammad Abdul Mazid, Chairman, IBFB Finance Committee and Former Secretary and Chairman, NBR,  M.S. Siddiqui, Director IBFB and CEO, Bangla Chemical,  ASM. Moinuddin Monem, Vice-Chairman, IBFB Industry Leadership Committee and Deputy Managing Director, Abdul Monem Ltd.,  Sajedur Seraj, Member IBFB and Deputy Managing Director, Octagon Fibers and Chemicals Ltd.,  Md. Neajer Rahman, Member IBFB and Managing Director, Hera Holdings Ltd., Md. Abdus Salam, Executive Director IBFB etc. were present in the meeting.

The Finance Minister said, the private sector represents around 80 per cent of our economy, as such supports and cooperation from the business community is very important for the Government   to keep development wheel rolling on and strengthen the country’s economy. In spite of worldwide economic recession during the last tenure of Awami League led government, he said, we could have managed to continue the trend of GDP Growth.  AMA Muhit also said that the present Government   will give emphasis on important issues like enhancing transport facilities and revenue earnings through expansion of tax bases, IT and VAT. He also opined about his thinking to introduce ‘Users Tax’ in future that may take another 15 years to be fully effective.

In response to IBFB recommendations on different issues like rapid industrialization, exploration and expansion of new business opportunities, safeguarding businesses and industries etc., Muhit said, he himself can visualize huge potentials of toys industry and consumer durable, and suggested IBFB to conduct comprehensive studies and researches in these fields.

On behalf of IBFB, President Hafizur Rahman Khan congratulated Muhit for being elected as the Finance Minister for the second term. In addition, he urged the Finance Minister to take measures for reducing bank interests with immediate effect, safeguard industries and businesses, rescheduling of bank loans and exemption of interests on loan for a certain period etc.