Photo: BSS

RANGPUR, June 3, 2025 (BSS) - Rangpur Chamber of Commerce and Industry RpCCI) President Md Akbar Ali has said the proposed national budget for the fiscal 2025-26 will play a positive role in curbing inflation and improving the overall living standard across the country.

In an immediate reaction to the budget of Tk 7,90,000 crore presented by Finance Adviser Dr. Salehuddin Ahmed, the RpCCI president welcomed several initiatives outlined in the proposal.

He said the budget will help reduce unnecessary imports, lower government expenditure, and develop the market and product supply systems. 

He also praised the steps to protect local industries and reduce import duties on LNG, crude oil, pharmaceutical raw materials, and medical equipment.

Akbar Ali noted that the proposal of increasing budget in social security allowances would significantly benefit the elderly, widows, people with disabilities, the sick and disadvantaged communities, with contributing to inclusive economic growth.

He, however, said that the prices of household electronics such as air conditioners, refrigerators, mobile phones, motorcycles, and various kitchen appliances may rise, putting an additional pressure on lower- and middle-income people.

On the issue of tobacco taxation, the RpCCI president cautioned that simply raising taxes on cigarettes could backfire unless measures are taken to stop the illegal sale of counterfeit cigarettes without tax band-rolls. 

He stressed the importance of targeting unscrupulous traders instead of solely relying on tax hikes.

Akbar Ali also emphasized the need for strict inflation control to safeguard the country's growth momentum. He called for enhancing private investment by addressing the current macroeconomic challenges.

Highlighting the importance of small and cottage industries, he said sustainable economic development cannot be achieved without strengthening this sector. 

He urged the government to allocate special funds in the revised budget to support entrepreneurs in small and cottage industries, which are keys to generating employment at the grassroots level.

Akbar Ali also called for a special allocation in the revised budget to fast-track the implementation of mega projects in the Rangpur region. 

"The proposed budget should include balanced distribution of funds, transparency and accountability programs, and strategies to restore macroeconomic stability for positive benefits, economic growth, and poverty alleviation," he added.