Raise tax-free income limit to Tk 500,000 – Demands civic body DBM

The Democratic Budget Movement (DBM) has called for raising the tax-free income limit to Tk 500,000 and reduction of VAT on fertiliser, fuel and consumables.

The DBM made the call at a dialogue on Saturday so that the budget for the fiscal year 2023-24 does not put any additional burden on the common people and increase income inequality.

The civil society organisation held the dialogue on ‘What can be done to prevent inflation, discrimination and wastage’.

General secretary of DBM Monowar Mostafa said common people were trying to cope with the impact of the Covid-19 pandemic and the Ukraine-Russia war. But the increase in expenses compared to income was so much that they could not afford to live a normal life.

“On the other hand, the cost of almost all the projects has increased several times due to the inability to prevent the cost overrun of the projects undertaken by the government.” Taking this situation into consideration, he called for preparation of an austerity budget by declaring it an ‘economic emergency’.

Amanur Rahman, vice chairman of the organisation, said that in a democratic state, people should be given the opportunity to participate in decision-making.

Referring to the demand of labourers in the budget, DBM’s joint general secretary Sekender Ali Mina said the government took an initiative to introduce a pension system for all. But in order to ensure the participation of all in this system, adequate allocation should be made in the budget.

Source: The Financial Express

Shopping Basket

Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.