Malaysia has showcased keenness on investing in Bangladesh for being one of the fastest growing economies amidst the pandemic, said discussants at an online event jointly organised by Standard Chartered and Bangladesh Investment Development Authority yesterday.

The Bangladesh Chamber of Industries (BCI) has said private sector and industries of the country will be benefited from the government’s tax measures in the proposed budget for 2021-22 fiscal year.

Bangladesh Association of Software and Information Services (BASIS) has welcomed the new national budget, but it expressed its worries as the fiscal plan did not include the proposals placed by the association.

The government can think of allowing investment of undisclosed money in the productive sector for some time, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Money is not a problem for the implementation of the proposed budget, but vaccination has become the main concern now to bring back the business confidence, Unnayan Shamannay said today.

The garment exporters today demanded continuation of the existing 0.5 per cent source tax for the next five years.

The Business Initiative Leading Development (BUILD) has praised the proposed national budget for 2021-22 fiscal year and said it was a bold initiative to set the GDP growth target at 7.2 per cent amid the ongoing pandemic.

The Metropolitan Chamber of Commerce and Industry (MCCI) welcomed the proposed budget for 2021-22 fiscal year, but it thinks implementation of the annual plan will be the biggest challenge.

Finance Minister AHM Mustafa Kamal today said his government would be able to implement the budget for the upcoming fiscal year like it did in the past.

The government will increase advance income tax (AIT) on import of some luxury items, including alcohol and perfume, which will surely increase their prices at the local market.

Export earnings doubled year-on-year to $3.11 billion in May this year thanks to a rebound in garment shipment.

India’s central bank will likely keep interest rates at record lows this week as it assesses the economic fallout of the country’s evolving Covid-19 crisis, but the monetary authority is expected to reiterate its commitment on liquidity.

Chinese Vice Premier Liu He exchanged views with US Treasury Secretary Janet Yellen on issues of mutual “concern”, in his second virtual call in a week with top economic and trade officials under the US Biden administration.

In a first for the country, rose tea recently joined the white and yellow blends for sale in local markets.

State-run Maddhapara Granite Mining Company has run up a loss of around Tk 565 crore, mainly due to two contractors hired back-to-back failing to meet their extraction targets.

Bangladesh will observe National Tea Day on June 4 for the first time in its 50-year history.

The government yesterday teamed up with global news networking giant CNN International for the promotion of “Made in Bangladesh” products worldwide.

With the new national budget set to be announced today, The Daily Star caught up with Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue, for his take on potential policy changes, how to address the needs of the hour, and various solutions to the Covid-induced economic crisis. Below are the excerpts of the interview.

This year’s national budget will be the second to be implemented amid the ongoing unprecedented economic and social crisis brought on by Covid-19.

Bata Shoe Company (Bangladesh), one of the country’s most widely known footwear brands, suffered losses for the first time in 59 years of operations as it had to shutter outlets during the main sales seasons amid the coronavirus outbreak.