Terming the proposed budget for 2008-09 fiscal as populist, the country's apex trade body FBCCI yesterday said its successful implementation is highly dependent on peaceful political situation.
The FBCCI Foundation has taken up two projects to reduce poverty through employment generation. The projects are Employment Project and One Family-One Businessman. At least 10,000 males and females will be employed through the first project. They will be posted in bakeries and restaurants under Bangladesh Bread, Biscuit and Confectionery Manufacturers Association and Bangladesh Restaurant Owners Association.
Bangladesh saw a record $ 1.8 billion export growth raising the total to around $10.5 billion last fiscal year despite a substantial fall in prices of products in the global market. "Export had the highest ever surge in fiscal 2005-06, fetching around $1.8 billion more than in the previous year, " said a source in the Export Promotion Bureau (EPB).
Commerce Minister Faruk Khan yesterday agreed with businessmen, bankers and experts to change the decades-old Foreign Exchange Regulation Act (FERA) immediately to tap the growth potential of the country. The minister and the businessmen said unanimously that FERA is affecting the country's economic growth.
The country's apex trade body yesterday suggested that the government should float public-private partnership (PPP) bonds on the stock market to raise funds to cover a deficit budget. Raising funds through PPP bonds will help the government reduce its dependency on bank borrowing and foreign aid to meet the deficit in the budget, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said in its reaction to the proposed budget.
A proposed hike in VAT and other taxes will increase the prices of essentials and burden consumers, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said yesterday.
Top business leaders of the country yesterday urged the caretaker government to make sure before the next general election that the political forces which will come to power through polls will not allow hartal or closure of ports in any situation.
Annisul Huq, a presidential candidate for the FBCCI election, aims to strengthen and streamline the apex trade body so that the federation can play a major role in accelerating the country's economic growth. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), which is a platform of around three crore businessmen, needs a competent leadership to drag out the federation from a frustrating performance stage, he said.
Former BGMEA president Annisul Huq was declared nominated director of FBCCI yesterday as the election board of the apex trade body published the list of valid candidates to contest its upcoming election. On the other hand, President of Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association MA Rouf Chowdhury will have to win a direct voting to become FBCCI director as he was declared a valid candidate to contest the election.
Annisul Huq was elected president unopposed of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday, as MA Rouf Chowdhury proposed Annisul's name instead of vying for the post. Prior to the FBCCI polls, Rouf had declared his candidature for the top post of the apex trade body.
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