Dhaka, Jan. 12 -- The latest increase in VAT and taxes on different products as well as a move to double the gas price for industries would leave 'catastrophic consequences' on the economy that is currently going through critical challenges.

A leading trade body on Saturday warned of the adverse impact of the government move and said the measures would be suicidal for businesses, trade and investment as well as for the overall economy.

"The country is currently going through a critical moment and economic challenges," Taskeen Ahmed, President of the Dhaka Chamber of Commerce and Industry (DCCI), told a press briefing at the trade body's office at Motijheel in the city.

The interim government has recently increased value-added tax (VAT)...