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NGOs must pay full taxes for their commercial activities |
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January 24, 2001
Dhaka-- (UNB) – Finance Minister Shah AMS Kibria yesterday said the NGOs must pay full taxes for their commercial activities. “None will be given tax relief for commercial activities,” he told a delegation of Dhaka Chamber of Commerce and Industry (DCCI) that met him at his ministry conference room. Newly elected president of DCCI Benajir Ahmed led the delegation. The Finance Minister called upon the business community to play a more active role in curbing political terrorism, saying that political stability prevails in the country. The DCCI delegation expressed satisfaction over the present economic situation, specially the recent trend of economic progress. They placed some recommendations for facing the challenges of globalisation and making trade and industry sector more dynamic. They urged the government to reduce interest rate on industrial loan, rejuvenate sick industries, withdraw 50 percent LC margin for import and curb uneven competition between industries and NGOs. The Finance Minister said the government has been providing all out assistance to the private sector as it considers the private sector the engine of economic growth. “Country’s economy is now at satisfactory level and is proceeding towards further progress following the appropriate measures taken by the government,” he observed. About the sick industries, the minister said the problem was created during the period of previous government and the present government has taken realistic steps in this regard. About the demand for reducing interest rate, he said the rates must be lower but the banks are independent to fix the rate. “There are some complexities as the rate of interest for savings is also high,” he said and assured the BCI delegation that the government is looking into the matter. |