Eminent economist Dr Wahiduddin Mahmud has said that the decision to provide expensive cars to deputy commissioners (DCs) and Upazila NIrbahi Officers (UNOs) is a waste of state money.
He observed that some 80 percent of the rich are evading taxes. A large part of traders do not pay value added tax (VAT). In such a low revenue income situation, when the salary of the government employees cannot be paid, how will the development expenses be met?
He made the remarks while addressing as chief guest at a shadow parliament debate competition at the Film Development Corporation (FDC) auditorium in the city on Saturday.
Debate for Democracy, a debating organisation, organised the event on the strategy of the next budget in economic security with its Chairman of Hasan Ahmed Chowdhury Kiran in the chair.
Debaters from Eden Women's College become the winners defeating the debaters of Barisal University in the Shadow Parliament on “Increasing revenue collection should be the main strategy of the next budget to protect the economy”.
Dr. Wahiduddin Mahmud, also former caretaker government advisor, said that it will not yield good result in revenue collection if actions are not taken against corruption and weaknesses are not removed from the existing tax management.
He said that inequality and injustice must be removed as well from the existing tax management system.
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“It must be ensured that the revenue collections are not impeded by the pressure from politicians or influential people,” he added.
Wahiduddin Mahmud also observed that the dependence on debt is increasing alarmingly.
He said that it’s a matter of great concern that the foreign exchange reserves are decreasing significantly.
It’s really astonishing how we could have gone so far behind in financial good governance from a good position in this regard.
He said that there is no reason to believe that the International Monetary Fund (IMF) knows better about Bangladesh's economy.
“The advice of the IMF should be accepted considering the interest of the country. Some people of Bangladesh have written their names among the billionaires in different countries of the world including Dubai and Singapore”, he said.
He also noted that it’s not clear which country they are citizens of. Bangladesh Bank is not being able to give correct information about how they laundered the money.