FBCCI seeks Finance Ministry’s move for easing LCs for commodities and SMEs

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FBCCI seeks Finance Ministry’s move for easing LCs for commodities and SMEs

Next budget also in discussion between Mahbub Alam and Mahmud Ali

BM Report:

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the Finance Ministry to take necessary initiatives so that there is no disruption in the import and supply chain supply system due to the dollar crisis.

Mahbub demanded that the government take the initiative to keep the supply system normal to keep the prices of daily commodities normal in the coming Ramadan.

In a courtesy meeting with Finance Minister Abul Hasan Mahmud Ali on Monday, Mahbub, president of the apex trade organization of the country, also urged the ministry to formulate a business-friendly budget in the next fiscal year.

Mahmud Ali told Mahbub that the proposal of FBCCI will be seriously considered this time also during the making of the next national budget.

“The Ministry of Finance will stand by with protection and policy support for local businessmen and industrial entrepreneurs to ensure sustainable economic growth,’ Mahmud Ali said. Mahbub drew the attention of the Finance Minister to ensure the necessary arrangements so that small and medium entrepreneurs can open LCs and buy dollars at the rate announced by Bangladesh Bank.

The FBCCI president told the minister that it is possible to increase the revenue collection of the government at a significant rate along with the expansion of business, trade, and industry in the country through the simplification of tax management, the establishment of transparency and accountability, and automation.

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