ICMAB Hosted Pre-Budget Round Table Discussion on National Budget 2024-25

To forge policy recommendations for the government in preparation for the national budget announcement, The Institute of Cost and Management Accountants of Bangladesh (ICMAB) convened a significant round table discussion on Tuesday (April 23, 2024) at the Pan Pacific Sonargaon Hotel, Dhaka, on the upcoming national budget for 2024-25.

the chief guest  Ms. Waseqa Ayesha Khan, MP, Honorable State Minister of Finance shared  the possibilities that could unveil in the upcoming budget. She said, to ensure economic prosperity, the government is planning to emphasize on controlling inflation, increase in reserve and remittance, increase export revenue, explore new market for export, creating investment friendly environment, and uninterrupted electricity and power supply. She also assured government’s plan to continue infrastructural and ICT development, human resource development, and short- and long-term revenue strategy. 

The former governor of Bangladesh Bank Farashuddin Ahmed said  “that contractionary monetary policy is suicide.  Because At present 78 percent people are unemployed in the country.”

 Mustafa Kamal Mohiuddin, chairman of Magura Group, said, "Those of us who do business have some problems. National budget should be the way to solve those problems.”

 

 The discussants highlighted and expressed the country's keen anticipation of the government's response to various global challenges, including climate change, inflation, and policy uncertainties. They pointed out that the need for increased funding to meet the commitment for UN Sustainable Development Goals and ultimately achieve the country’s strategic objectives. The discussion also covered the need for nuanced adjustments in fiscal and monetary policies to address issues such as exchange rate stability, currency policy, and balancing export-import dynamics. The importance of encouraging household savings, broadening the tax base, enhancing reserve buffers, and controlling the prices of daily commodities were also highlighted.

The discussion was inaugurated by Prof. Dr. Md. Salim Uddin FCMA, President of ICMAB, and moderated by Mr. Arif Khan FCMA, past president and current council member of the institute. Ms. Waseqa Ayesha Khan, MP, Honorable State Minister of Finance, joined the discuss as the chief guest

Professor Dr. Mohammed Farashuddin, former Governor of Bangladesh Bank and Chief Advisor of East West University; Dr. Ahsan H. Mansur, Executive Director of the Policy Research Institute of Bangladesh; and Mr. Mahbubul Alam, President of FBCCI, participated in the program as the special guests along with a diverse panel of experts from academia, research institutes, business leadership, and professional chambers.