Women chamber submits budget proposal

A delegation of 15 members from Bangladesh Women Chamber of Commerce & Industry (BWCCI) led by its President Ms. Selima Ahmad submitted the budget proposal for the fiscal year 2015-16 in the “Pre-Budget Discussion Session” organized by National Board of Revenue at NBR. The proposed budget is for continuation of 100 cores taka as grant for women entrepreneurship development as previous fiscal year.

IMG_4009It also proposes allocation for the establishment of Incubator program for women entrepreneur, introducing tax-free income limit up to Tk. 3,500,000 for women.

BWCCI also proposes facilitating free registration for women entrepreneurs in international trade fairs and allow to carry product minimum of BDT 5 lacs and allocate 15% from the Equity and Entrepreneurship Fund (EEF).

Establishment of a separate Bank for women entrepreneur is another issue that the BWCCI talked about in the meeting. It also says reserving priority based quota for women entrepreneurs in proposed economic zones and industrial park.

The other issues that the women chamber said are, exemption of vat and tax on the related expenses fortrainings, fairs, workshops and seminars for women entrepreneurs and their institutes, allocating 10 core taka for women entrepreneur against the business loses due to the reason of strike across the country, exemption of tax and vat fees up to sell on 50 lacs for the business institute of women entrepreneur, rewarding the women entrepreneurs who pay regularly tax, reserve quota for women entrepreneur for the selection of CIP, introducing 4% vat in all steps.

Need to increase the amount of cash incentive for the production and export of potato to sustain in the competition with India and Pakistan. At present the cash incentive rate is 20% and from it 3% tax deducted. Required to exemption of this 3% tax, introducing up to 5% tax for importing the raw materialsof leather goods for women entrepreneur.

BWCCI proposes introducing duty free tariff to import the Mulching Sheet in the production of potato, exemption of tax to import machineries for women entrepreneur. Other proposals are: ensure the representation of women entrepreneur in the Import Trade Control Committee, ensure the fast and flexible process for the investigation of pre-shipment and reducing the rate for women entrepreneur from 61% vat and tax to import the printing paper, all anomalies in custom procedure must be removed and made friendly for women entrepreneur, introducing the bank loan interest 7% to 9% for women entrepreneurs.

BWCCI proposal includes introducing tax free opportunity up to two years against the bank loan for women entrepreneur, a policy should be adopted by the Central bank of Bangladesh to instruct all schedule commercial banks and non-banks to disbursed at least 3% from targeted landing (which is 15% of SME refinancing loan) from all branches for commercial bank, adoption and implementation of separate market/ quota policy for women entrepreneurs. Decentralized and increase the decision making process and financial capacity of local government institutions to establish a separate market/quota for women entrepreneurs.


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