The formal reaction of Federation of Bangladesh Chambers of Commerce and Industry or FBCCI came on Saturday -- two days after Finance Minister Mustafa Kamal presented the Tk 5.23 trillion budget for fiscal year 2019-20 in parliament. “This is not only a business-friendly a but public welfare-oriented one,” said FBCCI chief Sheikh Fazle Fahim at a media briefing. The Bangladesh Garment Manufacturers and Exporters Association or BGMEA said it was ‘70 percent happy’ with the proposed budget. The FBCCI urged the government not to be reliant on bank loans to offset the budget deficit as it may lead to an increased inflation rate. It suggested that the revenue targeted in the budget be collected using easy, transparent and consistent methods so that businesses are not harassed.

Source: bd News24 June 15, 2019 11:03 UTC