IBFB Pre Budget Discussions

The International Business Forum of Bangladesh (IBFB) organized a Pre Budget Discussion Meeting on 7th May 2007 at BRAC Center INN Auditorium.

Chaired by the IBFB President Mahmudul Islam Chowdhury, the discussion meeting was also addressed by Dr. Akbar Ali Khan, the former Finance Advisor of the Caretaker Govt, Canadian High Commissioner Ms. Barbara Richardson and Japanese Ambassador Mr. Masayuki Inoue.

Keynotes on Agriculture, Education & Private Sector involvement in Infrastructure Development were presented by Dr. Sattar Mandol, Dr. Hafiz G.A Siddiqui and Sajedur Seraj respectively.



Left to right: Dr. Sattr Mandal – Professor, Agricultural University, Dr. Akbar Ali Khan – Ex Finance Adviser to the Caretaker Govt, H. E. Ms. Barbara Richardson – Canadian High Commissioner, Mr. Mahmudul Islam Chowdhury – President of IBFB, H. E. Masayuki INOUE – Japanese Ambassador, Dr. Hafiz G. A. Siddiqi – VC of North South University, Mr. Sajedur Seraj – Vice Chairman of AB Bank, Mr. Md. Omar Shafayat Kausar – Governor, Lions Club address in a Pre Budget Discussion Session May 7, 2007 at BRAC Center INN

In his address, Dr. Akbar Ali Khan recommended to make provisions in the national budget to import tax-free food items in order to manage food price hiking. As there is no parliament at this moment, he recommended to form a special committee comprising of important and widely acceptable people to follow up the allocation of the upcoming budget in order to ensure transparency. He also stressed to ensure the accountability of the administration at different levels through strengthening of local Government.

The Canadian High Commissioner emphasized extending collection of taxes and optimal utilization of local resources to reduce dependency on foreign donors in upcoming budget. She also added that more allocation on employment generating activities, agriculture, education and health should be considered.

The Japanese ambassador in his speech focused on identifying and utilizing local sources to increase revenue. He highlighted investing in the education and recommended to invest more resources in skill-based quality.

Among the keynote speakers, Dr. Sattar Mandal emphasized to take some measures in the budget to make available diesel fuel and other raw materials for agriculture production, for doing research and development value added agricultural products.

Dr. Hafiz Siddiqui in his speech in education sector development stressed making allocation to private universities for development of their faculty and research capacity.

On private sector involvement in infrastructure development, Sajedur Seraj suggested to involve the private sector in mainstream development, and to give immediate priority to outsourcing communication sector development to the private investors.

The discussion was ended by a lively open floor debate participated in by the representative of different chambers, managing directors of private banks, renowned CEOs of national & multinational companies etc.

Based on the discussions and suggestions received from this event, IBFB will draft specific recommendations, which will be forwarded to the Ministry of Finance for consideration.