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Salman F Rahman asks for a flexible attitude from revenue officials

By The Economist
Business leaders and industrialists are worried about new VAT law as there is confusion over it. At a discussion organised by Large Taxpayers Unit of the revenue authority, Prime Minister and Awami League President Sheikh Hasina’s private sector affairs adviser Salman F Rahman said “I, on behalf of the business community, welcome the new VAT law, scheduled to be implemented from July 1. But I want to request the NBR to make sure that the revenue officials show a flexible attitude in the first 3-4 months of implementation of the law and consider it as transitional period.”


Salman F Rahman was present in the discussion as the chief guest. The NBR chairman Md Nojibur Rahman was on the chair. Responding to the call, NBR chairman assured that the new VAT law will be hassle-free. In the discussion, Salman F Rahman further said the law was initially planned to be implemented from July 2015 but it was delayed by the government amid demands from businesspeople. In the meantime, the National Board of Revenue held a lot of training and workshops on the matter. Then he added “Even after that there is a feeling that increased awareness is necessary.”

One of the most prominent businessmen of the country, Salman F Rahman, is also among the famous personalities of Bangladesh. Salman F Rahman is the co-owner of the most prominent and largest company of the country – Beximco Group. With unique foresight and vision, he transformed the company into the largest private sector group in Bangladesh. Around 48,000 people directly work at separate business ventures of Beximco Group. The workers are paid much higher than the minimum wage set by the government. The company mainly focuses on textiles, ceramics, financial services, energy, IT, pharmaceuticals and electronic media. Beximco Group not only serves the domestic market; it had expanded its sphere in the global market. Beximco in fact is a brand as much as Salman F Rahman is. Salman F Rahman rightfully identified that investing in medicines and ceramics will bring him profit and help the country in general because there was huge shortage of these products in the local market. At the moment Beximco Group is the market leader in both medicines and ceramics industry. And in course of time, this dynamic businessman explored IT industry, textiles, real estate, media and aviation. In most of the ventures, he succeeded. The dynamic businessman has become famous because of this extra-ordinary vision and for being two steps ahead from other businessmen in the country. Salman F Rahman set up country’s first private bank along with Dubai-based Galadari Brothers Group in 1982. The bank was named Arab Bangladesh Bank. However he sold stakes of this bank in late 1980s and bought 30% at International Finance Investment and Commerce Bank, otherwise known as IFIC. At the moment he is the chairman of the bank.
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