Jashore businessmen threaten movement if govt doesn’t revoke tax hike

The Jashore Chamber of Commerce and Industry has urged the government to revoke the decision to increase taxes on over a hundred products and services, including medicines, LP gas, powdered milk, and biscuits. 

They made the call during a press conference held at the chamber's office this afternoon (13 January).

The organisation warned that if the unjustified VAT hikes are not withdrawn, they may be compelled to take to the streets.

At the press conference, Jashore Chamber General Secretary Tanvirul Islam Sohan stated that the government recently issued two ordinances to raise value-added tax (VAT) and supplementary duties on a wide range of products and services in an effort to boost revenue. 

"Such measures would exacerbate inflation, increase business costs, and negatively impact the living standards of ordinary people," he said.

While recognising the need to expand the tax base for revenue generation, Sohan emphasised that this should not come at the cost of people's welfare or quality of life.

At the briefing, Jashore Chamber President Mizanur Rahman Khan criticised the tax hikes, attributing the country's economic fragility to rampant corruption and money laundering under the previous government.

"Foreign exchange reserves are at historic lows and the decision to accept $4.7 billion in loan assistance from the International Monetary Fund (IMF) had been made as a last resort," he said.

He questioned whether the current government, formed after a mass uprising, had requested the IMF to reconsider the harsh conditions tied to this loan, particularly the phased VAT increases. 

Mizanur Rahman went on to say, "A government representing the people should not perpetuate policies that increase public suffering."
Therefore, he demanded the immediate withdrawal of the tariff hikes.