The International Business Forum of Bangladesh held a Pre-budget discussion meeting with the Hon’ble Finance Minister Mr. A M A Muhith today at his office in Bangladesh Secretariat on 29 May 2012. A 20-member team of IBFB delegates met the Minister to submit proposals for the National Budget 2012-2013.
The IBFB delegates raised some practical issues adversely affecting the growth and development of business and economy of the country. High bank interest rate, inadequate support and protection for local industries, price protection for growers of agricultural products, proper financial support for auto rice mills, reduction of bank interest for multi-purpose cold storages, reducing unreasonable charges like tax, VAT and other duties on raw materials imported for different industries like steel, power and energy, imposing penalty for black money to be included in business and economy, remedial measure to curb corruption in business etc. were some of the important points proposed to the Honourable Minister.
IBFB delegates headed by Mahmudul Islam Chowhdury, Founder President and
Immediate Past President of IBFB called on the Finance Minister on 29 May 2012
Mr. Muhith assured the IBFB delegates that adequate protective measures, especially on agro-based industries will be taken in the forthcoming budget of this year. Reciting the country’s economy dependent to agriculture, he requested the business leaders to come forward for investing in agro-based business such as auto rice mills, multi-purpose cold storages etc.
As the newly elected IBFB President Mr. Hafizur Rahman Khan could not attend the meeting due to illness, the founder President and Immediate Past President of IBFB Mr. Mahmudul Islam Chowdhury led the delegation and discussed the issues affecting the business community and economy at present. He also informed the Minister about the research works conducted by IBFB i.e. Good Governance for Economic Growth, Complexities in the Income Tax Laws, Improving Property Registration Process & IFC Ranking of Bangladesh, Improving City Governance and Private Sector Development, Reducing Corruption in Accessing Industrial Credit and Improving Transparency of State-owned Commercial Banks (SCBs), Identifying Regulatory Barriers and Improving Transparency in Shipbuilding Industry, Identifying Regulatory Impediments of the Light Engineering Sector and Improving Transparency, Complexities in Environment Clearance Certificate for Industrial Ventures and Reducing Corruption, Formulation of Policy Guidelines for development of Motorcycle Industrial sector in Bangladesh etc. Mr. Chowdhury then submitted the proposals named “IBFB Proposals for National Budget 2012-2013” to the Hon’ble Finance Minister for due consideration to help the national economy prosper more. In addition, the most recent research work of IBFB titled “Formulation of policy guidelines for development of motorcycle industrial sector in Bangladesh” was also handed over to the Finance Minister.
Amongst other, Md. Omar Shafayet Kausar - Vice President of IBFB, Md. Humayun Rashid - Vice President (Finance) of IBFB, Sajedur Seraj – Director of IBFB, M. Anis Ud Dowla, Chairman, ACI Group of Companies, M. A. Hashem, Managing Director of Hashem Foods Ltd., Mohammad Ali Deen – Director of IBFB, Al Hajj Md. Anowarul Haque – Director of IBFB, Md. Atiar Zaman – Director of IBFB, Faruq Ahmed Siddiqi, Former Secretary & Former Chairman of SEC, Brig. Gen. (Retd.) Shafiquzzaman, Managing Director of Runner Group of Industries, ASM. Moinuddin Monem, Deputy Managing Director, Abdul Monem Ltd., Mohammed Jahangir Alam, Chairman of M.I. Cement Factory Ltd. and GPH Ispat Ltd., M.S. Siddiqui, CEO of Bangla Chemical, Anamul Quddus Chowdhury, Proprietor of Computer Gallery, Jasim Uddin Firoz, Proprietor of J.R. Trading, Abul Bashar Howlader, Director (Finance) of Walton Hi-Tech Industries Ltd., Dr. AFM Matiur Rahman, Former Secretary and Former Executive Director of IBFB and Md. Abdus Salam, Executive Director of IBFB etc. were present in the meeting.
