Unethical business practices and opposition from donors could prevent the government from extending the tax breaks most companies enjoy for another five years, says Finance Minister S.A.M.S. Kibria.

“Usually, every company shows a progressive profit in their books when tax breaks are in place." said Kibria at a prebudget meeting with chamber leaders and professional groups yesterday. "However, in the sixth year most companies record either a loss or no profit. This is what we face in practice."

Despite the problems, Kibria assured the business leaders he would see what he could do to extend the tax breaks.

The pre-budget consultative meeting also discussed fiscal measures. Participants decided future meetings about 2000-2001 budget preparations would include business representatives.

Business leaders urged Kibria not to raise the price of gas. electricity or fuel after the budget. If the government planned to raise those prices then it should do it through the budget.

However, Kibria said it would be difficult to fix the price of fuel in the budget, since the price fluctuated year round. The government would have to use extra budgetary’ measures to adjust fuel prices.

The leaders also asked Kibria to rationalise the banks’ lending rates, since they weren't commensurate with the inflation rate and make the tax collection system more transparent. accountable and hassle-free.

Abdul Muyeed Chowdhury, chairman of the National Board of Revenue. Mahbubur Rahman, president of the Bangladesh branch of the International Chamber of Commerce, Latifur Rahman, president of the Metropolitan Chamber of Commerce and In-

dustry. Khondokar Mosharraf Hossen. president of the Bangladesh Chamber of Industries and Benazir Ahmed, vice-president of the Bangladesh Garment Manufacturers and Exporters Association attended the meeting.

Representatives from the Institute of Chartered Accountants of Bangladesh, the Institute of Cost Management Accountants of Bangladesh, the Taw Lawyers Association, the Sylhet Chamber of Commerce and Industry and the Khulna Chamber of Commerce and hi-dustry also attended.