Inflation is expected to ease from July: Salman F Rahman

Inflation is expected to ease from July: Salman F Rahman

Dhaka, May 30 - Prime Minister's Private Industry and Investment Advisor Salman Fazlur Rahman on Thursday hoped that inflation will come down from July.

“Due to hike in dollar price, prices of everything have shot up. At the same time pressure has been created on the reserve. All the problems related to the dollar will go away. And hopefully inflation will come down from July next,” he said.

The PM’s Advisor was speaking at the opening ceremony of 'Bangladesh Business Climate Index 2023-24' organised by Metropolitan Chamber of Commerce and Industry (MCCI) and Policy Exchange of Bangladesh (PEB) at Gulshan  in the city.

Stating that the tax rate should be reduced to boost the revenue, Salman Fazlur Rahman said that NBR is still a big challenge to ease the business environment.

"We need to widen the tax net and lower the tax rates; this is the only way to increase revenue.” But what NBR is doing? They are imposing more tax on those who are paying tax. Actually, everyone should be brought under tax net, he added.

“We need a strong and big capital market compared to such a big economy. The Prime Minister also wants to strengthen our capital market. We are talking to Bangladesh Bank, NBR, Exchange Commission.”

Initiatives are being taken to reform the capital market as it is very important for us, Rahman stated.

He said new reforms will be seen in the next budget. Our tax-GDP ratio has come down compared to last year. “This is a problem for us and it must be dealt with.”

Expressing optimism about many local and foreign investments in the near future, Salman Fazlur Rahman said adding that “Bangladesh has a favourable business environment and we have to work on this.”-UNB