The Financial Express

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Mirza Azizul says government will find it difficult to implement budget

-- 2021-06-03 23:44:51

The government will not be able to execute the budget for 2021-22 fiscal year because of a lack of skills in the administration, believes AB Mirza Azizul Islam. “Financing won’t be a big...

Agro-based industries get 10-year tax exemption

-- 2021-06-03 23:25:48

Bangladesh has announced a 10-year tax exemption for six individual sectors in agro-based industries to generate employment and tackle the drought in investment caused by the coronavirus pandemic. Fi...

Prices of numerous goods likely to change under FY22 budget

-- 2021-06-03 23:13:46

The prices of many goods and products are likely to change under the budget tailored for 2021-22 fiscal. Finance Minister AHM Mustafa Kamal has proposed a reduction of tax and customs duties on diffe...

Govt allocates Tk 5.87b for cultural affairs

UNB 2021-06-03 22:36:05

Finance Minister AHM Mustafa Kamal proposed allocating Tk 5.87 billion for the cultural affairs ministry on Thursday, as part of his announcement of the FY22 budget. The allocation is Tk 80 million m...

Defence allocation raised by 8.0pc in budget for FY22

UNB 2021-06-03 22:26:09

The allocation for defence in the budget for the FY22 has been increased by Tk28.49 billion from the outgoing fiscal year. Tk 376.91 billion has been proposed for the Defense Ministry and other servi...

Household appliance industry exempted from VAT

-- 2021-06-03 21:15:01

The government has exempted the household appliance industry from Value Added Tax or VAT to ease the dependence on foreign goods. In the FY 2021-22 budget unveiled on Thursday, the government include...

Education budget almost unchanged, again

-- 2021-06-03 21:00:12

The government has increased the allocation for the education sector in the national budget by 8.36 per cent to Tk 719.51 billion, but it remains almost unchanged in proportion despite the ripple effe...

Housing facilities for govt employees increase to 40pc

FE Online Report 2021-06-03 20:26:09

The government is implementing projects to increase the housing facilities for its officials and employees from 8.0 per cent to 40 per cent, Finance Minister AHM Mustafa Kamal said in the proposed bud...

Tariff raised on imported feature phones to protect local industry

-- 2021-06-03 20:18:41

Tariffs on the import of feature phones are likely to rise in the FY22 budget as the government tries to protect the local mobile phone industry. Finance Minister AHM Mustafa Kamal proposed a hike in...

Govt proposes tax exemptions for six more IT-enabled services

FE ONLINE REPORT 2021-06-03 20:18:15

Finance Minister AHM Mustafa Kamal proposed an extension of tax exemptions for six more IT-enabled services until 2024 at the parliament on Thursday. The services are cloud service, system integratio...

Budget expands social safety net

-- 2021-06-03 19:45:04

Bangladesh has expanded its social safety net programmes by increasing the budgetary allocation by 12.5 per cent in the fiscal year 2021-22 as part of the efforts to alleviate the plight of lower-inco...

FM proposes 15pc tax on private universities, medical colleges

-- 2021-06-03 19:12:02

The government plans to impose a 15 per cent tax on private universities, and medical, dental and engineering colleges, including the ones offering IT education, in the new fiscal year (FY22) starting...

‘Made in Bangladesh’ brands get tax exemption

-- 2021-06-03 18:57:02

Bangladesh has announced a 10-year tax exemption for ‘Made in Bangladesh’ brands in the year starting Jul 1. “The government is pledge-bound to nurture the ‘Made in Bangladesh...

Savings certificates, non-bank sources to be tapped for domestic financing

UNB 2021-06-03 18:54:19

A substantial portion of the proposed 6.2 per cent of GDP budget deficit in the next fiscal will be met from the local sources, where a total of Tk 370.01 billion will be taken out from the savings ce...

FM proposes allocation of TK 100b for Covid-19 emergency requirements

UNB 2021-06-03 18:12:53

As Covid-19 has devastated normal life, Finance Minister AHM Mustafa Kamal proposed to allocate Tk 100 billion in the next fiscal year (FY22) to meet the emergency requirements to respond to the pande...

Individual tax rate to remain unchanged in FY22

-- 2021-06-03 17:52:33

Finance Minister Mustafa Kamal is planning to keep the individual tax rate unchanged in the proposed national budget for the fiscal year 2021-22. The threshold of tax-free income was raised to Tk 300...

Cigarette prices rise

-- 2021-06-03 17:44:09

Bangladesh plans to push the price of cigarettes to reduce smoking and increase tax revenue. The minimum price for 10 sticks of low-tier cigarettes will be set at Tk 39, with a supplementary duty of...

Stocks extend winning streak as budget unveiled

FE ONLINE REPORT 2021-06-03 17:06:38

Stocks extended their winning streak on Thursday as investors went on buying spree just ahead of unveiling the national budget. DSEX, the benchmark index of the Dhaka Stock (DSE), went up by 34.42 po...

Bangladesh eyes 7.2pc GDP growth in new fiscal year

-- 2021-06-03 17:05:51

Bangladesh has set a 7.2 per cent GDP growth target for the new fiscal year starting July 01 amid a second wave of coronavirus infections that is sweeping across the country. In order to implement th...

Govt slashes corporate tax rates in new budget

-- 2021-06-03 16:44:32

Finance Minister AHM Mustafa Kamal has recommended an array of cuts to the current corporate tax rates in the proposed budget for fiscal 2021-22. In an effort to boost the ratio of private investment...

VAT reduction on paper cone manufacturing proposed

FE ONLINE REPORT 2021-06-03 16:43:56

Finance Minister AHM Mustafa Kamal has proposed to make necessary amendments in the rules and to reduce VAT on paper cone manufacturing from 15 per cent to 5.0 per cent in the budget for the next fisc...

Additional export incentive for RMG sector likely to continue in FY22

FE Online Report 2021-06-03 16:17:03

Finance Minister AHM Mustafa Kamal has proposed to continue 1.0 per cent additional export incentive for the country's readymade garment (RMG) sector in the next fiscal year (FY22). The government st...

Bangladesh attains Asia's highest GDP growth in FY 2020-2021

FE ONLINE DESK 2021-06-03 16:01:23

Bangladesh has been able to achieve a real GDP growth of 5.2 per cent, which is the highest in Asia, in the outgoing fiscal year (FY) 2020-2021. Finance Minister AHM Mustafa Kamal unveiled this while...

Inflation target set at 5.3pc for FY22

-- 2021-06-03 15:58:25

Bangladesh aims to keep the average inflation rate at 5.3 per cent in fiscal 2021-22 as part of the efforts to prevent a price spiral amid the coronavirus pandemic. The inflation target was set out i...

Bangladesh allocates Tk 100 billion for emergency response to Covid-19 pandemic

-- 2021-06-03 15:50:57

Bangladesh plans to set aside Tk 100 billion in the coming fiscal year to meet expenses related to unanticipated emergencies due to the COVID-19 pandemic. The amount is consistent with that of the cu...

Bangladesh unveils 50th budget worth Tk 6.03 trillion

FE ONLINE DESK 2021-06-03 15:21:20

The government has unfurled the national budget for the next fiscal year (FY) 2021-22. Finance Minister A H M Mustafa Kamal placed the budget titled 'Jibon jibikar pradhanya diye sudriro agamir pothe...

Cabinet approves proposed budget for next fiscal

-- 2021-06-03 14:55:03

The Cabinet at a special meeting on Thursday approved the proposed 50th national budget for the fiscal year 2021-22, seeking to revive the pandemic-hit economy, UNB reports. Prime Minister Sheikh Has...

Stocks open sharply higher on budget hopes

FE ONLINE REPORT 2021-06-03 10:59:17

The market opened sharply higher on Thursday as investors are putting fresh bets on stocks amid budgetary expectations. Finance Minister AHM Mustafa Kamal is set to unveil the national budget for the...

Bangladesh's debt servicing on rise

FHM HUMAYAN KABIR 2021-06-03 09:23:17

Bangladesh's debt servicing to overseas lenders is rising year-on-year, as the government opts for higher hard-term borrowing in recent years, analysts said on Monday. The debt servicing against di...

Bangladesh's 2020 jobless rate up at 5.3pc: ILO

MONIRA MUNNI 2021-06-03 08:31:43

Bangladesh's unemployment rate increased by 1.1 per cent to 5.3 per cent in 2020 mainly due to the Covid-19 pandemic that created a labour market crisis globally, according to a new assessment by th...