The Dhaka Chamber of Commerce & Industry (DCCI) organised a view-exchange meeting with Old Dhaka's small and medium entrepreneurs on Thursday (8 February) to identify and resolve pressing business challenges. Traders emphasized the need for a package VAT system on essential commodities to curb inflation and called for urgent action to address infrastructural and regulatory hurdles.
Business leaders highlighted issues such as unbearable traffic congestion, waterlogging, weak infrastructure, inadequate SME financing, increased dollar prices, delays in import-export procedures, high interest rates, and a complex revenue structure. Representatives from various trade associations and business organisations participated in the discussion.
Special guests included Deputy Commissioner of Dhaka Metropolitan Police (Lalbagh Division) Md. Jashim Uddin, Bangladesh Bank’s Director of Research Dr. Md. Selim Al Mamun, and Additional Commissioner of Customs, Excise, and VAT Commissionerate (South, Dhaka) Manash Kumar Barman.
DCCI President Taskeen Ahmed, in his welcome speech, urged for simplifying tax and VAT systems to reflect the size and capacity of businesses, addressing import-export bottlenecks, and establishing a realistic VAT rate. He stressed the importance of joint initiatives from the government and private sector to create a business-friendly environment, including improved law and order and traffic management in Old Dhaka.
Dr. Md. Selim Al Mamun noted that a 35% depreciation of the dollar between 2022 and 2024 disrupted currency management, but Bangladesh Bank is working to stabilize the exchange rate. He also shared positive trade growth figures and announced the formation of a taskforce to recover siphoned money.
Manash Kumar Barman outlined government efforts to automate VAT systems through online registration to simplify returns and reduce harassment. He clarified that VAT is calculated based on value addition, not the manufactured price, and urged traders to ensure proper documentation.
Md. Jashim Uddin, Deputy Commissioner of Police, announced plans to deploy traffic police at key spots in Old Dhaka and convert some roads to one-way traffic to ease congestion. He also encouraged traders to recruit volunteers to assist during peak periods and highlighted measures to address the juvenile gang issue.
Traders demanded the introduction of a package VAT system, simplification of tax processes, improved law and order, and stricter oversight of import practices under bond licenses. They also called for reducing VAT and tariff rates, rationalizing taxes, and automating port processes to streamline trade.
Former DCCI President Matiur Rahman and other leaders stressed the need for economic reforms, including reducing LC margins and avoiding mid-year tariff changes.
At the event's conclusion, DCCI President Taskeen Ahmed awarded membership certificates to 33 newly enrolled members of the chamber.
This meeting underscored the collective resolve of Old Dhaka’s business community to address long-standing challenges and foster a more conducive environment for trade and commerce.
