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A joint working group will be formed to probe the slow progress of the 27 projects involving around $20 billion that China had agreed to provide during President Xi Jinping’s Dhaka visit in October 2016.
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The government has devised a strategy to ramp up revenue collection by Tk 60,000 crore in the new fiscal year in order to help the National Board of Revenue (NBR) reach its tax mobilisation goal.
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The government’s subsidy expenditure has soared 29.36 percent to Tk 46,385 crore this fiscal year largely due to its concessions on demands from pressure groups.
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Projects involving about $7.5 billion under the three Indian lines of credit are progressing slowly owing to lengthy processes in land acquisition, change in design and delays in hiring consultants and document preparation.
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State banks did not get a single penny from taxpayers in the just concluded fiscal year to make up their capital deficit, in a clear sign from the government of its intent to stop pampering the errant lenders.
