JS set to pass Finance Bill today

FE Report | Published: June 27, 2018 10:13:05 | Updated: June 27, 2018 14:23:17

FE file photo used for representation

The finance bill of proposed budget for the fiscal year, 2018-19, is expected to be passed today (Wednesday), two days ahead of the schedule.

The budget will be passed the next day.

Finance Minister AMA Muhith told reporters on Tuesday that the decision was taken to avoid passing the budget in the weekly holidays.

He said the proposed budget may not see any significant change.

"Budget will have no major changes. There is very little likelihood of bringing change in corporate tax," he said replying to a question.

He said the tax-free ceiling will also not be changed now and in the future.

The minister will not disclose new areas of the proposed budget, which may see changes.

Muhith said Prime Minister Sheikh Hasina will give her views on the proposed budget on Wednesday in parliament.

During her speech, the Prime Minister will announce the arena where the budget deserves changes, he said.

Muhith will also deliver a speech in parliament to air his views on the comments and criticisms that came since the budget was placed on June 07.

However, the minister expressed his dissatisfaction about the critical comments from members of the opposition in parliament despite being part of the government.

"The comments of some of the opposition party members were very rude," he said.

"Yes, as opposition they should play a role. Side by side, they should keep it in mind that they are part of coalition," said the minister.

Replying to a query, the minister said he will give response to the criticism made by different quarters on the banking sector. "I am getting prepared with my tools."

He said the allegation that tops against banks is the increasing volume of non-performing loans (NPLs).

"I have to do something about it. I am thinking I will provide some targets for the banks. But that will come in July."

Muhith disagreed with the views made by both the government and the opposition party members on the looting of banks by some powerful quarters.

"Well, I don't agree with them," he said. "The looting means the resources of the banks being abused by the bank directors."

The bank directors take loan from other banks where the conflict of interest still prevails, he said.

"I am finding ways on how to prevent it. I have nearly finalised some solutions. But I will put forward those in July after discussing with stakeholders," said Muhith.



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