Budget to focus on stronger domestic economy

The government is going to prepare the upcoming national budget (2021-2022) aimed at further enriching and strengthening the country’s domestic economy, AHM Mustafa Kamal said on Thursday.

He came up with this statement while briefing reporters at a virtual conference on Thursday after pre-budget discussions with 12 virtual business organizations.

Asked what should be the priority in the Corona situation, the finance minister said, “Our budget always has a goal." The goal this time is to enrich and expand our domestic economy. If we can do these things, everyone's frustration will be reduced, everyone will have money.”

Our goal is to generate revenue, he said. So that in generating revenue, one has to make sure that no other issues come up, he mentioned.

Mustafa Kamal said ‘we want to further enrich our domestic industry, if it develops, our revenue generation will be readily available.’

“I will collect revenue on the one hand by holding their hands, and on the other, employment will be ensured.

Kamal said, “Today, the traders have informed us of their views, problems and receipts.”

Most of the issues that have come up are tax related, he said adding that our budget team is working on the budget led by the finance secretary.

The government will take into consideration the suggestions that are useful and beneficial for the country with their advice in the outline of our budget, he mentioned.

“I will not say that the kind of demands that have come are unreasonable, because the number of their demands is so high. We will sit down with the budget team, banks, NBRs and decide how much we can claim,” he said.

In the last budget, there was a good idea to deal with Corona. Asked if there is any message of hope again, the Finance Minister said, “Our message is that all the people of the country are valuable assets. We are always working under the leadership of the Prime Minister so that the livelihood of every human being is not disrupted. She always takes this issue seriously.”

Sheikh Fazle Fahim, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Dr Rubana Haque, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), AKM Salim Osman, President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Md Saiful Islam, president of Bangladesh Leather Goods and Footwear, among others, were present at the pre-budget discussions.