Small traders expressed their dissatisfaction with delays in LC adjustments, unstable dollar values, high interest rates on bank loans, harassment in VAT payments, increases in VAT and taxes on various products, the complexity of trade license renewal processes and high fees, deteriorating law and order, and unbearable traffic congestion on city roads.
They also expressed hope that the government would address these issues to enable small traders and shopkeepers to conduct their businesses smoothly.
They told these at a view-exchange meeting organised by Dhaka Chamber of Commerce & Industry (DCCI) on 6 February at DCCI’s Gulshan Office, reads a press release.
The members of DCCI and members of different market and bazar associations of Gulshan, Mohakhali, Banani, and Badda areas attended this interactive meeting.
The discussion covered various pertinent issues like the recent hike in VAT and tax, the law and order situation, customs, traffic congestion, the high price of dollars, trade license renewal fees, etc.
Speaking at the event, DCCI President Taskeen Ahmed said, “Due to the challenging situation of global trade, our entrepreneurs are facing an increasingly difficult situation to survive in the competition, as well as the complexity of tax and VAT system.”
The DCCI president also said that due to the recent unstable law and order situation and deteriorating traffic situation, the conducive environment for trade and investment is being hampered.
Ahmed also said limited access to credit for SME entrepreneurs, high rates of interest on loans, and unstable dollar rates are hampering local industrialisation.
Md. Sayedul Islam, Additional Director, Foreign Exchange Policy Department of the Central Bank, Mohammad Ariful Islam, First Secretary of NBR (VAT Implementation), and Md. Tarek Mahmud, Deputy Commissioner of Police (DMP), Gulshan Zone, was present on the occasion.
Md. Sayedul Islam said that the fixation of LC margin actually depends on the relationship between the bank and the customer and the issue of LC margin is not the same for all products as well.
Deputy Commissioner of Police (Gulshan Division) Md. Tarek Mahmud said that after the recent political transformation reform in the police department is also going on.
NBR secretary Mohammad Ariful Islam said the NBR has been given a large revenue target to collect which is a challenging task indeed.
He therefore sought cooperation from all including businessmen to achieve this challenging target.
Md. Abu Taher, Vice-President of Gulshan-1 DNCC South Paka Market Traders' Association, DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman was also present at the meeting.
Meanwhile, 25 business entities got their membership in DCCI. DCCI President Taskeen Ahmed handed over the certificates to the owners of newly enrolled members of DCCI at the event.
