BCI for swift implementation of budget

The Bangladesh Chamber of Industries (BCI) on Thursday welcomed the national budget for fiscal year 2026�"27, describing it as the largest and most reform-oriented in the country’s history, while urging the government to ensure effective implementation from the very first day.

BCI President Anwar-ul Alam Chowdhury (Parvez) extended his congratulations to the Finance Minister and the Prime Minister following the presentation of the budget in the National Parliament on Thursday, 11 June.

He said that in the context of global economic uncertainty, high inflation, an energy crisis and stagnant investment, the government's reform-oriented measures to strengthen the economy were commendable. According to him, proposed reforms in the banking sector, tax system and public financial management would have a positive long-term impact on the industrial sector.

The BCI president noted that the identification of ten priority sectors for development, along with recognition of the creative economy and blue economy, would support Bangladesh's long-term sustainable growth. He also emphasised the need to include halal product manufacturing and export within the framework for export diversification, citing rising global demand and Bangladesh's capacity to benefit from it.

Mr Chowdhury described the budget's proposals on deregulation and business facilitation as bold and significant, but stressed that their success would depend entirely on proper implementation.

While acknowledging the necessity of a large budget for a country of around 190 million people, the chamber cautioned that implementation capacity has historically been a key challenge. It said progress should be guided by a clear timeline and structured plan from the outset, with continuous engagement of all stakeholders.

The BCI also highlighted several priority areas requiring attention, including ensuring uninterrupted energy supply to industries, reducing bank lending rates, expanding credit flow to the private sector, creating employment opportunities and reviving closed factories. It also stressed full implementation of policies supporting micro, small and medium enterprises.