Dhaka, Bangladesh (BBN)- The Metropolitan Chamber of Commerce and Industry (MCCI) has called the proposed budget for the fiscal 2012-2013 as bold and challenging.
"The budget, framed in the back-drop of the global economic slowdown, attempts to stimulate rural growth, mobilize revenue, support infrastructure development, development of human resources, and deliver social safety measures," the trade promotional organization said in a statement on Friday.
The MCCI also said the budget focused on high growth rate of GDP, export, import, remittance and investment.
It, however, said the government has to give special attention to specific measures to contain inflation in the light of rising global prices.
The Chamber thought that the government's implementation capacity has to be developed for accelerating the development of human resources and energy sectors.
Besides, the MCCI said the Coal Policy should be announced quickly with appropriate mining methodology.
The chamber is delighted as the government recently has made a separate Ministry for Railways, which the MCCI demanded in the last year's budget.
"A strong rail transportation system will reduce pressure on roads and significantly improve cost savings and efficiency of people and goods," it noted.
The MCCI said any significant growth of the economy is inconceivable without high and sustained growth of energy.
"We strongly feel that as time progresses, the GDP growth should be raised to 8 per cent in the upcoming years in order to transform Bangladesh into a middle- income country," it added.
BBN/SSR/AD-08June12-10:44 am (BST)
