IBFB’s pre-budget discussion meeting with minister

A 20-member delegation of International Business Forum of Bangladesh (IBFB), headed by Mr. Hafizur Rahman Khan, President IBFB and Chairman, Runner Group called on the State Minister of Finance and Planning Mr. M. A. Mannan, MP for a Pre-budget Discussion Meeting at his Secretariat Office on Wednesday, 09 April 2014. In reply, the State Minister opined that special attention will be given to the suggestions provided by IBFB during the formulation of the forthcoming National Budget. In a reply to IBFB request to keep politics and business separate, the State Minister said, so far sustainable development of the country is concerned the politicians and business persons have indifferent interests which are originated from patriotism and wisdoms to ensure betterment of the people.

Requesting the Minister to incorporate their suggestions in the forthcoming National Budget 2014-15, the delegation recommended for generation of more revenues through effective utilization of VAT, discouraging import of goods/services manufactured locally and thus protecting local industries, rationalizing high bank interest rates hindering industrialization in the country, automation in all spheres to ensure “Digital Bangladesh”. The delegation also recommended for restructuring taxes (CD, VAT, IT etc.) in different fields / areas / sectors such as Power & Energy; Billets; Travel, Tourism & Hospitality Industry; Agro Based Industry etc. To give a boost up and ensure rapid growth, the IBFB Delegation strongly suggested to declare the Health Sector and Travel, Tourism & Hospitality sector as “Industry”, and also change the rate of utility bills from commercial to industrial rate (presently it is 60% higher than industrial rate). In order to safeguard and stop recurrence of tragic accidents in the RMG Sector that has already created image crisis for Bangladesh, IBFB demanded strong monitoring and close supervision which they defined as a call of the time. To ensure this, they recommended for dispersal of RMG units throughout the country.

Among others, Mr. Mahmudul Islam Chowdhury, Founding President, IBFB & Chairman, Khan Bahadur Group; Dr. Md. Omar Shafayat Kausar, Vice President IBFB & Managing Director, Bengal Bay Group; Ms. Lutfunnisa Saudia Khan, Director IBFB & Director, Banglaphone; Mr. Md. Atiar Zaman, Director IBFB & Managing Director, Palal Group; Mr. Syed Mustafizur Rahman, Director IBFB, Managing Director, Novo Cargo Services Ltd; Chartered Accountant Mr. A. K. Chowdhury, Chairman, IBFB Industry Leadership Committee; Mr. Anwar Shahid, Vice-Chairman, IBFB Economic Development Committee & Managing Director, SHIMEX International Ltd.; Engr. Md. Nurul Amin, Member IBFB & Country Director, Petro-Venture Associates; Md. Lokman Hossain Akash, Member IBFB & Chief of International Marketing, Walton Hi Tech Industries Ltd.; Mr. Amjad Hossain (Rubel), Member IBFB & CEO, Roy Het Enterprise; Mr. Maksudur Rahman, Chairman, RSRM Group; Mr. Mohammed Jahangir Alam, AMD, GPH Ispat Ltd. etc. were present in the meeting.