Bangladesh Parliament approves 2004-05 annual budget

The Bangladesh Parliament has approved the country's 2004-05 (July-June) annual budget with a few changes to various import duties.
The 572.48 billion taka ($9.48 billion) development and revenue budget was adopted by Parliament late on Wednesday after the main opposition party Awami League walked out in protest against "insufficient debate on new fiscal measures."
Finance Minister M. Saifur Rahman tabled the budget in Parliament on June 10 for discussion and approval.
Saifur told Parliament on Wednesday the government would work to implement the budget "to alleviate poverty, increase wealth, develop human resources and enhance production in all areas."
He cut tax for land registration to 5 percent from a proposed 10 percent and lowered the import duty on raw materials for the soap industry to 15 percent from 25 percent.
The import duty on medicine for poultry was withdrawn fully, after it had earlier been proposed at 7.5 percent.