Tk 85,000cr budget under way
Monday, 31 March 2008

Barisal, Mar 29: Advisor Dr Mirza Azizul Islam disclosed that the caretaker government plans to announce a Tk 85,000-crore budget for the coming fiscal year, accommodating demands of the common man, reports UNB.

He said the coming budget would be prepared in keeping with the demands of the mass people although the present government is not an elected and political government.

He, however, observed that no budget in the world could satisfy all corners and never could fulfill all demands of the people. "Though the government is planning to announce a budget of Tk 85,000 crore, Tk 5,000 crore higher than the current budget allocation, it too wouldn''t satisfy all."

The Finance Advisor was speaking at a pre-budget discussion and exchange-of-views program held at Barisal circuit house (Saturday) morning.

He said rehabilitation in Sidr-affected regions and sectors, power supply, communications, transportation, and human resource development would get priority in the next budget.

But this government won''t try to establish any large-scale industry in public sector because of the experiences of failure of the past governments, he told his audience in the southern city. He said Bangladesh is one of the lowest income tax-collecting countries of the world as the people pay very small amounts of tax.

The Finance Adviser further said the rate of subsidy has been on the increase in public sector due to price hike on the international market. The amount of subsidy would reach up to 19% in the new budget, amounting to Tk 15,600 core, this fiscal, from Tk 6000 core of the previous fiscal year, he said.

Planning secretary Jafar Ahmed Chowdhury, Finance Secretary Dr. Md Tarek, chairman of the National Board of Revenue Abdul Majid and Vice-chancellor of Patuakhali Science and Technology University Dr. Abdul Latif Masum participated in discussion.

The discussants emphasized taking measures for controlling price of essentials, regional infrastructural development, power supply, natural gas exploration and supply, subsidy in agricultural sector, tax holiday for the new and affected business entrepreneurs and industrialists, subsidy in education sector and in the Sidr-affected region.

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