Dhaka Chamber of Commerce and Industry (DCCI) has urged the government not to impose additional tax on the businessmen as a means of collecting extra fund to be required for implementing the upcoming new pay scale already proposed early this week.
“The revenue collection is slow. That’s why we call upon the government not to increase tax on the business community for raising fund to implement the new pay scale,” DCCI President Hossain Khaled told a press conference at the DCCI in Dhaka yesterday.
He, however, welcomed the proposed pay scale for public servants, terming it a time-befitting decision considering the rise in the prices of essentials.
He said the government should take into account also the inflation problem as prices of commodities would go up.
According to the proposed pay scale, the government needs an additional amount of around Tk30,000 crore to implement it.
“The new pay system will put pressure on private sector but we have to tackle that and move forward,” Khaled said, replying to a question on the pay hike proposal.
The biggest challenge for the year 2015 would be enhancing investments in productive and service sector, he said, adding that non-friendly business policy has been impeding desired economic growth of the country.
The business tycoon called for steps to attract FDI as well as local investors by ensuring business friendly environment to reach targeted goals.
The current GDP growth of the country is hovering around 6%, which should be about 10%, said the DCCI president.
In the current year, Bangladesh has witnessed $1 billion FDI per annum while the war-torn country, Pakistan, enjoys around $7 billion FDI annually.
In reply to a query, Khaled said the chamber will continue dialogue with political parties to eliminate destructive political programmes that discourage fresh investments and impede economic growth.
Urging the government to lower bank interest rate to single digit, Khaled claimed that banks are charging high interest on lending, which is a bar to private sector borrowers to making new investment.
Due to lack of gas and electricity supply, production at factories is stalled and thousands of working hours are wasted, said Khaled.
The businessman suggested that the government should ensure gas supply to newly established industry that will encourage business community and instill confidence into them.
He stressed the need for zone-wise weekly holiday to reduce load-shedding and pressure of gas.
Khaled also called upon the government to brand Bangladeshi products abroad and explore new export market through its foreign missions.
