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Price hike of essentials is as usual, says NBR chairman

Price hike of essentials is as usual, says NBR chairman

Chairman of National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem has said the price hike of essential commodities is as usual as it happens globally.
“Price fluctuation of essentials occurs in each and every country in the world and this is not new in our country,” he said adding that price reduction of the import-dependent commodities amid the price hike hampers national development.
The NBR chairman came up with the observation while addressing as chief guest at a pre-budget discussion for the 2022-2023 fiscal year at the conference hall of the Rajshahi Chamber of Commerce and Industry (RCCI) in Dhaka on Thursday. NBR Members Masud Saleque, Jakiya Sultana, and Shamsuddin Ahmed spoke as special guests with RCCI President Masudur Rahman in the chair.
Chamber leaders Motahar Hossain, Abdul Awal, Abdul Karim, Abu Bakkar and Prof Rojety Naznin also spoke on the occasion with a set of recommendations focusing on formulating the upcoming budget as business-friendly.
NBR Chairman Rahmatul Muneem said the basic objectives of the upcoming budget are social development and security, poverty reduction, enhanced GDP and generation of more employment in the country.
The upcoming budget will benefit honest businessmen and also consider the economic ability and welfare of the mass people of the country.
‘NBR will take all necessary steps to promote honest businessmen and against dishonest ones to materialise the vision 2041,’ he reiterated.
The NBR chairman expressed his interest in protecting local industries in the forthcoming budget. He said that support for local industries, especially for those who produce consumer goods, would be in consideration in the next budget like in previous times.
Rahmatul Muneem said they don’t want consumer goods to be imported from China, Taiwan, or any other country.
He also called for motivating the public in general for paying VAT and taxes properly for boosting revenue collection for the country’s overall development.
He said proper functioning of the country’s business sector and other trade-related activities are the preconditions to uplift economic growth.
Laying stress on enhancing revenue collection from both internal and external sources, NBR Chairman said it could be an effective means of reducing dependency on foreign aid for executing the uplift programmes.

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