Business Concerns: The rise in the value of the dollar and interest rate improvements are affecting the cost of doing business

Business Concerns: The rise in the value of the dollar and interest rate improvements are affecting the cost of doing business

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However, exporters said the exchange rate appreciation would benefit them more unless other costs of doing business increase as they would earn Tk 6-7 more per dollar and this would increase their competitiveness in global markets.

In this regard, Syed Naseem Manzoor, managing director of leading leather goods exporting company Apex Footwear and former president of the Metropolitan Chamber of Commerce and Industry (MCCI), told Prothom Alo, “Amidst the current global situation, the dollar exchange rate “This increase will increase our completion capacity.” International markets, but if the cost of transportation, electricity and fuel increases due to appreciation of the dollar, exporters will not get this benefit. A coordinated initiative should be taken so that other costs of doing business do not increase due to increase in the dollar rate.

Mohammad Zaved Akhtar, managing director of multinational company Unilever Bangladesh, said that even though it is late, dollar prices have been moved closer to the real market value and bank interest rates have also been made market-based, and these decisions This will increase pressure on business in the short term, but may yield results in the long term.

Due to the increase in the dollar exchange rate the government's revenue collection will increase from Taka 150 billion to Taka 160 billion, and if a port of this additional revenue is spent to meet the additional cost of fuel imports it will probably not be needed. . Increase prices of fuel and electricity. If no new costs of doing business are added, these decisions will yield benefits in the long run.

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