NBR geared up to meet revenue target

The government is confident that it will meet its revenue collection target for the current fiscal year, as the National Board of Revenue (NBR) is fully prepared, Finance Minister Amir Khosru Mahmud Chowdhury said yesterday.

“Revenue collection will be good. Everyone at the NBR is geared up. We will achieve the target we have set,” he told reporters after separate meetings with leaders of the Bangladesh Textile Mills Association and the Saudi Arabia-Bangladesh Chamber of Commerce & Industry at the NBR headquarters in Agargaon.

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He was replying to a question about how the government plans to achieve the ambitious revenue target set in the budget.

Although the minister did not announce any new tax measures, he said he was confident that the revenue authorities were ready to meet the goal.

The government has set the NBR’s revenue collection target at Tk 6.04 lakh crore for the current fiscal year, despite falling nearly Tk 88,000 crore short of last fiscal year’s target.

Responding to another question, the minister said the government would continue supporting industries through regular dialogue with the private sector.”Our industries must perform well. If industries do not perform well, the economy cannot stand,” he said, adding that stronger industries would be key to future economic growth and job creation.

The government had already taken several steps to address issues raised by businesses, the minister said, and would continue discussions to resolve the remaining ones.

He also said the government was exploring alternative sources of financing as the country’s financing landscape was changing. It was also looking for new opportunities to expand business and enhance skills training in cooperation with Saudi Arabia.

Finance Secretary Khairuzzaman Mozumder and acting NBR chairman Ahsan Habib were also present at the press briefing.