Tuesday, July 25, 2017 | ePaper

New VAT law may shoot up gas, electricity prices: CPD

  • Print
Economic Reporter :
Centre for Policy Dialogue (CPD) has expressed apprehension that gas and electricity prices may be hiked again if the new value-added tax (VAT) law comes into effect in 2017-18 fiscal year.
"If the new VAT law comes into force, 15percent VAT will be added to the electricity prices which will hike the price further. Besides, the gas price will also go beyond the reach of common people," CPD Executive Director Fahmida Khatun said at the budget dialogue in a hotel in the city on Saturday.
She also proposed the government to set the VAT rate at 12percent.
Planning Minister AHM Mustafa Kamal, State Minister for Finance and Planning MA Mannan, CPD distinguished fellow Dr Debapriya Bhattacharya, and CDP Chairman Rehman Sobhan were present among others.
Amid a wide range of criticism and opposition from business people, the Value Added Tax (VAT) Act 2012 will be effective from July 1 at a flat rate of 15percent for almost all products.

More News For this Category

Mohammed Shams-Ul Islam, Managing Director of Agrani Bank Limited presiding over its 'Zonal Head and Branch Managers’ Conference' of Rajshahi Circle office at its training institute at Uposhohor recently. Md. Akram Hossen, Circle GM and Md. Towfiqul Islam, Circle DGM of the bank were present.

Mohammed Shams-Ul Islam, Managing Director of Agrani Bank Limited presiding over its 'Zonal Head and Branch Managers’ Conference' of Rajshahi Circle office at its training institute at Uposhohor recently. Md. Akram Hossen, Circle GM and Md. Towfiqul Islam, Circle DGM of the bank were present.

.

China cashing out as mobile payment soars

AFP, Beijing :Yang Qianqian holds out her smartphone to scan a barcode on the mobile of a vendor selling fresh fruit and vegetables at a bustling outdoor market in

Mideast growth to dive as Saudi economy stagnates: IMF

AFP, Dubai :Economic growth in the Middle East and North Africa is forecast to slow considerably over oil prices as the Saudi economy slides, the International Monetary Fund said

Uber rival Grab to raise $2.5 billion in new financing

AFP, Singapore :Southeast Asian ride-hailing firm Grab said Monday it expects to raise $2.5 billion in financing, mostly from China's Didi Chuxing and Japan's Softbank, as it strengthens its

No-show inflation poses conundrum for US Fed

AFP, Washington :After tightening monetary policy last month for the second time this year, the US central bank is expected to pause for the next few months to monitor

Bangladeshi cricket sensation Mustafizur Rahman took part at a gala dinner with the Coca-Cola Bangladesh Bhasha Dibosh campaign and Radio Foorti Bashai Iftar Contest winner at a hotel in the city on Saturday. Shadab Khan, Managing Director of the company was also present.

Bangladeshi cricket sensation Mustafizur Rahman took part at a gala dinner with the Coca-Cola Bangladesh Bhasha Dibosh campaign and Radio Foorti Bashai Iftar Contest winner at a hotel in the city on Saturday. Shadab Khan, Managing Director of the company was also present.

.

Stocks see up on large-cap vibe

Economic Reporter :Stocks finished the session of the week on Monday in green as large-cap securities vibrated with rising trend at both the Dhaka and Chittagong Stock exchanges.The rising

Mercantile Bank elects three new leaders

Mercantile Bank elects three new leaders

Business Desk  :Md. Abdul Hannan and ASM Feroz Alam have been elected as Vice-Chairmen and Md. Anwarul Haque as Chairman of Executive Committee of the Board of Directors of

Md Abdul Karim, Chairman, Green Delta Insurance Company Limited, presiding over its 32nd Half-Yearly Business Conference at a city convention center on Sunday. Farzana Chowdhury, Managing Director, Nasir A Choudhury, Advisor, ASA Muiz, Senior Consultant, Golam Mustafa, Senior Additional Managing Director and AKH Iftekhar Ahmad, Consultant of the company were also present.

Md Abdul Karim, Chairman, Green Delta Insurance Company Limited, presiding over its 32nd Half-Yearly Business Conference at a city convention center on Sunday. Farzana Chowdhury, Managing Director, Nasir A Choudhury, Advisor, ASA Muiz, Senior Consultant, Golam Mustafa, Senior Additional Managing Director and AKH Iftekhar Ahmad, Consultant of the company were also present.

.

Tazwar stars selling jute diversified product

Tazwar stars selling jute diversified product

Business Desk :Tazwar, a Bangladeshi company started selling exclusively jute diversified products at home and abroad from its outlet at house-75, block-c, road-6, Banani in Dhaka, says a press