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Former Foreign Minister AK Abdul Momen (Sylhet-1) on Thursday told Parliament that the regular taxpayers have become disappointed with the budgetary provision for whitening ‘black money.’
“Honest taxpayers have become frustrated due to the announcement in the budget for whitening ‘black money’ with payment of 15 per cent tax. I definitely feel that it needs to review the scope for whitening black money,” he said.
The ruling party lawmaker made this remark joining the general discussion on the proposed national budget for 2024-2025 fiscal year in the House.
He said the matters of big concern among the common people are price-hike of commodities, generation of more employment, the rise of revenue, corruption, extortion and harassment.
Noting that some 80pc foods were produced locally in the country, he said some 34 lakh tons of onions were produced locally but the local demand is only 28 lakh tons, according to the statistics of the government.
“So, the onion production is six lakh tons surplus against the demand,” said Momen.
He said the same picture is seen in the case of potatoes. The local production is 104 lakh tons, which is 25 lakh tons more than the demand.
“If so, why do the prices of these items go high? There is inaccuracy in our statistics,” he said.
About employment, the former foreign minister said every year thousands of workable people go abroad in legal and illegal channels due to insufficient jobs in the country.
“According to government statistics, only 3.6 percent of people are unemployed in the country…. But six out of ten people who come to my office are for job purposes,” he said.
He said the private sector mainly generates employment and entrepreneurs. So, there should be scope for them to get enough bank loans, he added.
He said the government is taking Tk 137,000 crore loans from the banking sector to meet the budget deficit during this budget. “That means the private investors might be deprived of loans…. It should be careful in this regard,” he continued.
Citing that the revenue collection is a big challenge, he said only 30-32 lakh people are taxpayers among 17 crore people of the country, which is lowest compared to neighboring countries. “A breakthrough (radical) step is needed to change this situation,” he said.
In order to expand the tax net, he proposed that everyone who has national identity will have to submit his annual financial statement. Among them, the people who are able to pay tax would come under the tax net.
“It is not an impossible task at all in this digital Bangladesh. If so, I believe that some two-three crore people instead of 30-32 lakh will come under the tax net,” he went on.
Momen said a massive campaign is needed to take back laundered money to the country.
About remittance, he said if the proposal of the Parliamentary Standing Committee on Finance Ministry for introduction of smart cards to remitters, the remittance would go high and the dignity of their families would enhance and thus their harassment would decline.
Talking about corruption, the former minister said the pattern and nature of the country’s development maintained by the prime minister in the last 16 years is a wonder in the world.
“But now corruption is the main barrier to maintaining growth. The image of the government is tarnished because of corruption,” he said.
He said the projects are not implemented in time due to corruption which ultimately causes rise in project costs.
“A portion of bureaucrats has become corrupt, which is intensifying harassment of the people. The entire bureaucracy is blamed due to a handful of corrupt bureaucrats,” said Momen.