Planning Minister defends black money whitening
Dhaka, June 16 (UNB) – The government’s decision to allow the whitening of black money should not be condemned considering the investment opportunity it will create in the market, said Planning Minister AK Khandker on Saturday.
“Tax evasion is a common phenomenon everywhere, and we want more money to come for investment,” said the minister while addressing a roundtable titled ‘Analysis of the National Budget for FY 2012-13’, organised by Centre for Policy Dialogue at a city hotel.
Economists and politicians present at the meeting, however, claimed that the provision for whitening the black money is rather benefiting the illegal money holders than doing anything significant to the economy.
Prof Mustafizur Rahman of CPD said such provisions in the past failed to receive any significant response. “Only Tk 12,996 has been disclosed with National Board of Revenue (NBR) since 1975 and it got Tk 1,368 crore in fine,” he added.
Speaking on the occasion, Gano Forum president Dr Kamal Hossain said, “Covering scams and corruption is comparable to treason.”
Kamal Hossain said failing to curb illegal ways of earning money that include the recent scam in the share market puts the rule of law at risk.
Relating the provision of whitening the black money with the acquittal of several ministers from corruption charges, even after investigations by the Anti Corruption Commission, Amir Khashru Mahmud Chowdhury, leader of Bangladesh Nationalist Party ironically remarked, “If the black cat is given clean chit in a week, why should we raise objections about the whitening of black money.”
“Tax evasion is a common phenomenon everywhere, and we want more money to come for investment,” said the minister while addressing a roundtable titled ‘Analysis of the National Budget for FY 2012-13’, organised by Centre for Policy Dialogue at a city hotel.
Economists and politicians present at the meeting, however, claimed that the provision for whitening the black money is rather benefiting the illegal money holders than doing anything significant to the economy.
Prof Mustafizur Rahman of CPD said such provisions in the past failed to receive any significant response. “Only Tk 12,996 has been disclosed with National Board of Revenue (NBR) since 1975 and it got Tk 1,368 crore in fine,” he added.
Speaking on the occasion, Gano Forum president Dr Kamal Hossain said, “Covering scams and corruption is comparable to treason.”
Kamal Hossain said failing to curb illegal ways of earning money that include the recent scam in the share market puts the rule of law at risk.
Relating the provision of whitening the black money with the acquittal of several ministers from corruption charges, even after investigations by the Anti Corruption Commission, Amir Khashru Mahmud Chowdhury, leader of Bangladesh Nationalist Party ironically remarked, “If the black cat is given clean chit in a week, why should we raise objections about the whitening of black money.”
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