Dhaka, Wednesday, 25 May 2022

Tk200cr budget allocation sought for women entrepreneurs

Tk200cr budget allocation sought for women entrepreneurs

Apparel Correspondent: The Bangladesh Women's Chamber of Commerce and Industry (BWCCI) has proposed to allocate Tk 200 crore national budget allocation for women entrepreneurs affected by the COVID-19 in the next 2021-22 fiscal year.

In addition, the organization has sought m nine more proposals for women entrepreneurs.

Selima Ahmad, president of the BBTCCI, presented the proposals at a pre-budget discussion at the conference room of the National Board of Revenue (NBR) in the capital’s Segunbagicha recently.

NBR officials were also present at the time.

Selima Ahmad said that small and medium entrepreneurs (SME) are having a difficult time doing business due to COVID-19 pandemic. BWCCI is placing these 10 proposals after having consulted with various women entrepreneurs.

The organization also proposes to reduce VAT for women entrepreneurs in the service sector including boutiques, beauty parlors and catering, restaurants, food and domestic products business from 15 per cent to 4 per cent, setting personal income tax limit for women at Tk 4 lakh instead of Tk 3.5 lakh, exemption of VAT and tax from the resumption of business of women entrepreneurs affected by the COVID-19 pandemic till FY 2023-2024, tax exemption for new women entrepreneurs for the first three years of starting a business, reducing new business trade license fees and renewal fees, bank loan (excluding incentive package) interest rate at 4 per cent in SME sector for COVID-19 pandemic affected women entrepreneurs in 2021-22, to determine and distribute with a grace period of 6 months, to keep the incentive package of Bangladesh Bank announced by the government running in FY 2021-22, under this incentive package for women, increase a special 15 per cent loan allocation instead of 5 per cent,, implementation of the declaration of VAT exemption on business showrooms run by women entrepreneurs in the budget of FY 2019-20 and reduction of import tax imposed on machinery imported by women entrepreneurs and all types of parts imported by private medical college hospitals on their own initiative.

NBR income tax policy member Md Alamgir Hossain presided over the event attended by NBR member Syed Golam Kibria, VAT policy member Masud Sadiq.

Besides, some leaders of bank insurance and financial institutions were also present.