The stock market index fell today although the proposed budget for 2022-23 fiscal year recommended cutting corporate tax by 2.5 percentage points for listed companies except bank, insurance, telecom, tobacco and non-banks.

Achieving the huge proposed budget for fiscal year 2022-23 in the post-pandemic period is a huge challenge for the government but it is not impossible, said Md Mamunur Rashid, president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

The branch was officially inaugurated on June 9 following formal procedures at the Khulna branch office.

Bengal Meat has recently launched its online qurbani portal www.qurbani.bengalmeat.com.

ACI Motors, a subsidiary of ACI Ltd and marketer and sole distributor of commercial vehicle brand Foton in Bangladesh, has recently handed over five units of brand-new Foton ambulances to Labaid Diagnostic, a concern of Labaid Group, one of the leading healthcare service providers of the country.

The former Bangladesh Bank governor also stressed the need for cutting unnecessary spending and allocating more for social safety, education and health.

The Online Caselist, Judicial Monitoring Dashboard and Amar Adalat (MyCourt) app was launched today to facilitate the judicial services and information delivery process of the High Court and Lower Courts of the country.

The government has made a timely proposal to impose 12 per cent tax on general industries and 10 per cent on green industries, the Institute of Chartered Accountants of Bangladesh (ICAB) said today.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) does not support the chance of whitening black money as it would discourage honest businessmen.

Abdur Rouf Talukder, senior secretary of the finance division, has been appointed as the governor of Bangladesh Bank.

The top IT trade body Bangladesh Association of Software and Information Services (BASIS) today said the proposed budget did not reflect the industry’s demands for the development of the sector.

The budget for the next fiscal year will benefit both the poor and the business community alike of Bangladesh, said Finance Minister AHM Mustafa Kamal today.

The leading chambers and trade body leaders have praised the government for fixing the priority areas of development, but they also said controlling inflation will be biggest headache for the Sheikh Hasina administration in the next fiscal year.

The budget for the upcoming fiscal year has appeared to be insufficient in terms of needed measures, incomplete in terms of outlining strategies and inadequate in terms of addressing the present macroeconomic challenges, said the Centre for Policy Dialogue today.

The Asian Development Bank has approved a $250 million policy-based loan to support Bangladesh’s social protection reforms as well as to protect vulnerable population against socioeconomic challenges. 

The government should take adequate measures to make it easier for businesses to operate, said a noted entrepreneur.

Microcredit financing institute Uddipan has signed an agreement with Hishab Technologies to ensure seamless communication between borrowers and microfinance institutions.

The local currency today appreciated Tk 0.50 to Tk 91.5 against the US dollar at the interbank platform after facing a consistent slide in the last couple of months.

The Thakurgaon administration postponed the meeting scheduled to be held today with the potato growers, traders and cold storage owners to fix cold storage rents.

The leather industry cannot flourish properly depending only on the activities that take place during Eid-ul-Azha, Industries Minister Nurul Majid Mahmud Humayun said today.