Bangladesh Better Business Forum Wednesday asked authorities to cut penalty on undeclared money to help bring in under tax net and put an offer of a 10-year tax break for fresh industrial investment in the next budget. The BBBF made 114 recommendations, which were finalised at a meeting with chief adviser Fakhruddin Ahmed in his office. The recommendations were divided into four categories on the basis of duration for implementation.

The forum stressed making the process of legalising undeclared money easier for people in a bid to speed up the economy. It made six recommendations in the first category for immediate implementation: five on small and medium enterprises and one on information and communications technology. Related organisations have been asked to put them into immediate effect.

Boosting funds for the SME sector in line with banks and other financial institutions’ demand, opening services centres for easy access to SME loans and opening separate desks to attract women entrepreneurs were among the six recommendations. The Bangladesh Bank will implement the SME-related recommendations. The BBBF made 43 recommendations to implement in two months’ time and 42 in six months. Twenty-three other recommendations in the fourth category will be implemented after further discussion with the working groups.

Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association and member of the BBBF, told bdnews24.com that the recommendations had been made and categorised after reviewing the suggestions of the forum’s five working groups.