The National Board of Revenue (NBR) is taking preparations to launch its drive against the corrupt government officials for restoring the pride of the public servants which has been demolished in the course of time. According to some NBR top level officials, the revenue collecting authority is working seriously regarding the issue as it got a go ahead signal from the highest level of the government. They said that whether the government officials accept or not, it is a dire reality that the image of the government officials in the last 15 years has been on the verge of destruction due to some corrupt public servants. “As we got the green signal from the top office of the country, it is the time to strike on the corrupt officials,” they said. According to NBR sources, the regime change due to the revolution of the students and mass people of the country a sentiment is brewing in the govt offices including the NBR to take stern action against all corrupt officials. Recently, in a press briefing NBR chairman Md Abdur Rahman Khan while responding to a question regarding the drive against all government officials including NBR replied that the revenue collecting authority is taking measures against the corrupt NBR and other government officials. “We are stepping forward gradually setting our priority,” he told. A senior official of the NBR while talking to UNB echoed the NBR chairman’s statement and said that to launch any drive against the corrupt government officials it should need a concrete base and documentary support, otherwise the move might be futile which would not bring any positive change in the society. Read: Shortfall in NBR’s revenue collection continues in first 4 months of FY25 Recently, the National Board of Revenue issued an order to make online filing of income tax returns (e-Return) mandatory for government employees under the jurisdiction of income tax circles located in Dhaka North, Dhaka South, Gazipur and Narayanganj City Corporation. The senior official mentioning the move of online return submission for the public servants said that this would be very much beneficial for the NBR to find out the corrupt officials very easily. “If this online submission continues for the next couple of years it would create a good database for the revenue collecting authority as this database is linked with integrated budget and accounting system (iBAS),” he said. The NBR official mentioned that with one click NBR would be able to get income and expenditure scenario of any government official along with that particular person’s assets. During the Awami League regime, a law titled "Public Service (Amendment) Bill-2023' was enacted making prior permission of the authorities concerned compulsory for arresting government employees in criminal cases related to performance of duties. Law enforcers will need prior permission from the government or the appointing authority to arrest employees of autonomous, legislative and local government bodies before the chargesheet is accepted by a court in criminal cases filed in connection with duty performance. Read more: 10.50 lakh complete registration for online tax payment so far: NBR The law also sought to make it mandatory for the autonomous, legislative and local government bodies to take clearance from the Finance Division over financial expenditures. The NBR chairman in the press briefing also told that the Central Intelligence Cell (CIC) is working to dig out all information regarding president of the National Board of Revenue's (NBR) Customs, Excise and VAT Appellate Tribunal Matiur Rahman, who faced serious controversy over his wealth. The controversy regarding Matiur Rahman's wealth surfaced after his son Mushfiqur Rahman Ifat posted a photo of a sacrificial goat on social media and claimed to have bought it for Tk 12 lakh. This raised questions about the income of this official at this grade (a grade-1) with a basic monthly salary of Tk 78,000. Later, social media saw photos of Ifat with cars of various brands, and the wealth including flats and resorts of Matiur in various places including Dhaka, Gazipur, and Narsingdhi.

In another shake-up within the police force, 28 officers holding the ranks of Additional Superintendent of Police (Addl. SP) and Assistant Superintendent of Police (ASP) have been transferred to different units. This order was issued on Tuesday. According to the directive, 25 Additional Superintendents of Police and three Assistant Superintendents of Police have been transferred. This follows a previous notice on November 11, from the Public Security Division of the Ministry of Home Affairs, which announced the transfer and attachment of 64 officers of Deputy Inspector General (DIG), Additional Deputy Inspector General (Addl. DIG), and Superintendent of Police (SP) ranks. Read: Police administration undergoes major reshuffle In one of the notifications, one DIG, eight Addl. DIGs, and 39 SPs were transferred to different units. Another notice saysthat one DIG, five Addl. DIGs, and ten SPs were withdrawn from their current assignments and attached to various units. These reassignments aim to enhance operational efficiency and address organisational needs within the Bangladesh Police.

In its bid to boost the national revenue the interim government has set a target to collect Tk 6,15,500 crore and Tk 6,95,100 crore respectively for the next two fiscals. In the next 2025-26 fiscal an amount of Tk 5,53, 300 crore will come from NBR which is 15.2 percent higher than the previous year. Officials familiar with the plan said this week another Tk 62500 crore will come from other sources which is 5.5 percent higher than the previous year. In the 2026-27 fiscal, Tk 6,31,100 crore, which is 14.1 percent higher, will be collected from NBR while Tk 64000 crore, which is 5.3 percent higher, will come from other sources. The revenue target for the running 2024-25 fiscal is Tk 5,41,000 crore. Of which, Tk. 4,80,000 crore is supposed to come through the National Board of Revenue, and Tk. 61,000 crore from other sources. The government has undertaken various reform measures to achieve its fiscal targets in the medium term (2026-27 fiscal), according to an official document of the finance ministry. The revenue is expected to grow around 13 percent in the next three years, including the running one, to reach Tk 695,000  crore in FY27. The NBR tax is estimated to grow by as high as 28.2 percent in FY24, which is then projected to grow by 17.1 percent in FY25, 15.2 percent in FY26, and finally 14.1 percent in FY27. As per the document, there is no other option but to boost revenue collection and raise the tax-to-GDP ratio to the acceptable level in order to maintain Bangladesh's economic development. The government is planning to bring in appropriate changes and reforms in tax policy and administration to make them both effective and simple in the medium term. Several initiatives are underway to make tax administration taxpayer-friendly and transparent by expanding the scope of digitalisation and automation in tax registration, return submission, and tax payment. Tax exemptions currently being provided in various areas will be scrutinised and rationalised. Laws pertaining to customs and income tax have been updated and more amendments are in the offing in those laws to make those more taxpayers and business friendly. A Medium and Long Term Revenue Strategy (MLTRS) is currently being developed by the National Board of Revenue that is expected to chart a pathway to enhance revenue collection over the next five years. Along with the initiatives for reforms in the taxation system, the government has also paid its attention to explore the potential of revenue mobilisation from NTR sources. Various initiatives are being taken to make autonomous institutions pay part of their profit to the government. Ministries/Departments are being sensitised and encouraged to update fees/rates in non-tax revenue sector, identify potential sources and generate revenue from these sources, the document said. A database has already been created regarding fees/rates of government services provided by government agencies. In addition to updating the fees/charges of various services provided by the government, it has introduced a digital payment system so that the public can avail themselves of numerous services from their doorsteps which will improve NTR collection in the medium term, the document says. On ther other hand, to encourage hassle-free tax return submission the NBR has issued an order to make online filing of income tax return (e-Return) mandatory for government employees under the jurisdiction of income tax circles located in Dhaka North, Dhaka South, Gazipur and Narayanganj City Corporation. Online filing of income tax returns has been made mandatory for working officers/employees for all scheduled banks, all mobile telecom service providers and some multinational companies namely Unilever Bangladesh Limited, British American Tobacco Bangladesh Company Limited, Marico Bangladesh Limited, Berger Paints Bangladesh Limited, Bata Shoe Company (Bangladesh) Limited, Nestlé Bangladesh Plc. The NBR has taken a move to simplify submission income tax return and payment procedure through online. Online return filing system has been opened for taxpayers since September 9. Individual taxpayers can easily prepare their returns and file them online using the National Board of Revenue website www.etaxnbr.gov.bd. From this system, taxpayers can pay taxes through internet banking, card payment (debit/credit card) and mobile banking and get the facility of downloading and printing copies of filed returns, receipts, income tax certificates, TIN certificates. Besides, anyone can download and print the e-Return filed for the previous year. The e-Return registration process has already been made more taxpayer friendly. Biometric SIM registered with own national identity card of respected taxpayer is required for successful registration in e-Return.  

Environment Syeda Rizwana Hasan on Tuesday said the government is determined to set an example in controlling air, noise, plastic, and river pollution. “Our efforts are focused on ensuring a cleaner and healthier environment for the people of Bangladesh,” she said. The environment adviser made this remark when Ambassador of the Netherlands to Bangladesh Irma van Dueren paid a courtesy visit to her at the Secretariat. The meeting discussed strengthening collaboration between Bangladesh and the Netherlands in the areas of environmental sustainability, water resource management, and pollution control. Both sides discussed ongoing initiatives and future cooperation to address the growing challenges of climate change and environmental degradation in Bangladesh, said a press release. Rizwana emphasized the importance of community involvement in environmental initiatives, particularly in river conservation. “Rivers are the lifeline of our ecosystem, and any sustainable cleanup programme must involve local communities. Their active participation is key to ensuring long-term success in preserving our natural resources,” she added. Read more: Price hikes: Seven businesses fined in market monitoring drive She also mentioned the government's ongoing enforcement of the polythene shopping bag ban. The Dutch Ambassador expressed her country's willingness to assist Bangladesh in its efforts to improve water resource management and mitigate the effects of climate change. In the meeting, both sides expressed optimism about future collaborations to enhance environmental conservation and water resource management in Bangladesh. The Dutch government’s expertise in water management and Bangladesh’s commitment to sustainable development were recognised as strong foundations for continued partnership. The environment secretary and the water resources secretary, director general of Bangladesh Water Development Board, among others, were present at the meeting.

Chief Adviser’s Press Secretary Shafiqul Alam on Saturday said the government is investigating how people fled the country after the fall of Sheikh Hasina government but acknowledged the gap without any government in place from August 5-8. “The government position is quite clear. We are investigating and looking into why and how they could flee,” he told reporters while responding to a question during a media briefing at Foreign Service Academy. Chief Adviser's Special Assistant Mahfuj Alam and CA's Deputy Press Secretaries Apurba Jahangir and Abul Kalam Azad Majumder were present. After 15 years of leading Bangladesh, Sheikh Hasina fled the country on August 5 as student-led protesters stormed her place of residence. July Shaheed Smriti Foundation to support families of martyrs, aid hundreds weekly: Chief Adviser’s Press Secretary Alam said one thing is clear that there was no government on August 5-8 and police were on strike for a week and there was a gap at that time. “Our best efforts were there to arrest them. We are still trying to arrest those who were involved in ‘mass killings’,” he said. A journalist wanted to know how deposed Hasina was to flee in protocol when she stepped down. In reply, Alam said, “Again, at that time our government was not there. The overall matter is being investigated.” Responding to a question on expansion of the Council of Advisers, Deputy Press Secretary Azad said some political parties proposed to see whether it can further be expanded with more Advisers and also suggested evaluating the current advisers’ work. He said the Chief Adviser listened to their proposals attentively and will convey his decision following due process.

The government is considering reducing the import duty on rice in an effort to stabilise rice prices in the country. Sources at the finance, commerce, and food ministries indicate that this decision is being contemplated due to recent floods that severely impacted paddy cultivation. Major agricultural areas, including Chattogram, Feni, Noakhali, Laxmipur, and Cumilla, were flooded, and currently, Rangpur, Sherpur, Lalmonirhat, Netrokona, and Mymensingh are facing flood. These regions are vital rice producers for the country. Read: Price hikes: Seven businesses fined in market monitoring drive As a result, rice prices have risen significantly in the local market, causing difficulties for consumers. According to commerce ministry sources, the price of various types of rice has increased by 8-10 percent recently. “In this situation, the government aims to control prices and stabilize the market through rice imports. An initiative is underway to reduce the import duty on rice,”said a finance ministry official wishing not to be named. Currently, rice imports are subject to a 62.50 percent customs duty. The food ministry has requested the National Board of Revenue (NBR) to lower this duty to 5 percent. A letter was sent by Joint Secretary Lutfar Rahman to the NBR on September 29. The letter highlighted that the food ministry is working to ensure food security through improved management and the provision of safe and nutritious food. To support food security and incentivize farmers, a target of 500,000 tons of paddy and 14,700,000 tons of rice has been set for the current Boro season. By August 31, 296,970 tons of paddy and 1,255,497 tons of rice had been collected. Currently, the government’s storage holds 12,64,740 tons of rice and 4,63,928 tons of wheat, totaling 1,754,199 tons of food grains. However, after the floods, rice prices have risen sharply at the production, wholesale, and retail levels. In response, the Ministry of Food, Directorate of Food, National Directorate of Consumer Protection, and local administrations have increased market surveillance to control prices. Fair market monitoring and operations against illegal stockpiling are ongoing, but food grain prices have continued to rise. Read more: Interim Government committed to curbing essential commodity prices by breaking syndicates: Mahfuj Alam The food ministry also noted that recent floods in 14 districts have caused severe damage to Aoush, Aman seedlings, and Aman seedbeds. The demand for rice, coupled with reduced supply, could push prices even higher. Additionally, India’s wheat export ban, reduced wheat imports due to the Russia-Ukraine war, and rising global food prices have contributed to the surge in grain prices. In this context, stabilising the rice market and increasing the government’s safety stock is essential. Private-level rice imports may also be necessary. The government has already received approval to import 500,000 tons of rice. Although the global rice market is currently priced higher than the domestic market, reducing the existing rice import duty from 62.50 percent to 5 percent is seen as a necessary measure to maintain price stability. Currently, rice imports are subject to a 25 percent customs duty, 25 percent regulatory duty, 5 percent advance income tax, 5 percent advance tax, 1 percent insurance, 1 percent landing charge, and 0.5 percent DF VAT. Read more: 12 kg LPG cylinder price hiked by Tk 35 India recently reduced its rice export duty from 20 percent to 10 percent. If Bangladesh reduces its import duty to 5 percent, a combined duty of 15 percent will apply to rice imports from India. The food ministry’s letter emphasised that this reduction in duty will encourage importers to meet domestic demand. The ministry has requested the NBR to take the necessary steps to reduce the duty on non-basmati parboiled rice and non-scented atap rice for both public and private imports.  

Irregularities including theft and missing of goods at Carew & Co. (Bangladesh) Ltd, a traditional industry in the southwestern district of Chuadanga’s Darshana, have become a common phenomenon, thanks to the indifference of the authorities concerned. The mismanagement has apparently turned into a rule at the industry which is embroiled in ongoing issues of theft, particularly concerning foreign liquor. It also produces various alcoholic beverages along with sugar and vinegar. Despite the authorities forming probe committees and imposing temporary punishments on those found guilty, these offenders often return to their illicit activities shortly after, leading to the establishment of a racket. This situation continues even after the recent change in government following mass upsurge. Ahead of the Durga Puja, the syndicate has again become more active than ever as the demand for the liquor increases several times this time, said sources. On September 30, six bottles of foreign liquor were recovered from a toolbox of an electrician in the distillery department of the organization. Although the initial response was to downplay the incident until it became public knowledge. Read: Sugarcane threshing begins at Drashana's Carew & Co sugar mill  Last June, an allegation of missing 13,000 liters of DS spirit from the distillery department surfaced. Additionally, accusations of financial irregularities concerning the permanent hiring of 104 workers emerged in May, leading to legal action against several people, including the former Managing Director Mosharraf Hossain, Collective Bargaining Agreement (CBA) President Sabuj and General Secretary Masud respectively. The Carew & Co. (Bangladesh) Ltd is the only profitable state-owned sugar mill in the region, yet its alcohol production has become a significant source of profit. While law enforcement has made arrests related to the theft of alcohol, the company’s management appears largely indifferent to the issue. Recent police operations have intercepted several shipments of locally made and imported alcohol, leading to multiple arrests of Carew employees. Allegations suggest that labour unions have been complicit in enabling this syndicate, and some local politicians have provided protection for these operations, further entrenching the issue. Preferring anonymity, a worker of the organisation said thefts during the transportation of local liquor to various depots have been common, with drivers and workers sometimes colluding to facilitate these activities. Read more: Selling alcohol, Carew and Company earned a record Tk232.96 crore in 6 months Some workers wishing not to be named claimed that employees in the distillery department collaborate with labour union leaders to execute these thefts, which have reportedly increased during the current administration.  

Director General (DG) of the Border Guard Bangladesh (BGB) Major General Mohammad Ashrafuzzaman Siddiqui has acknowledged the BGB's partial responsibility in preventing Awami League leaders and activists from fleeing the country. “But the agency should not be solely held accountable for the situation,” he said at a press conference held at the BGB headquarters in Dhaka on Thursday. The DG said that the BGB has so far held 22 people identified as opponents of the anti-discrimination student movement. “Despite these arrests, a significant number of Awami League leaders and activists have still managed to escape across borders,” he recognised. Major General Siddiqui said that while the BGB bears responsibility for the fleeing incidents, it is critical to determine whether other entities should also be held accountable. "An investigation is necessary to ascertain who crossed which border—there can be no compromises on this matter," he emphasised. Read: BGB DG warns KNF, vows support for joint operations The DG said that a request had been made on August 6 to aid the BGB in curbing escapes through border, an initiative that was undertaken independently and without any external directive. “We have been working on this continuously. If all organisations that collect intelligence share their information, our efforts would be far more effective,” he said. He also referred to speculations that a large number of Awami League leaders and activists had already fled the country. “Did everyone flee? I don’t think so. Some are still hiding in this densely populated country,” he asserted. Major General Siddiqui urged journalists to assist the BGB by sharing any relevant information they might have. “You also have information. Please share it with the BGB, and we will take action. We are committed to preventing these escapes,” he said. Read more:Integrated checkpost to benefit both Bangladesh and India economically: BGB DG The BGB DG reiterated that the BGB is dedicated to fulfilling its role in safeguarding the borders and that all stakeholders must collaborate to address the ongoing issue effectively.

In an effort to promote a robust domestic debt market, the Bangladesh government is strategizing to increase its share of marketable securities in the coming years. According to a recent Finance Ministry document, the administration is also committed to continued issuance of Islamic securities Sukuks but has currently shelved plans for Eurobond issuances on the global market. As fiscal deficits loom, with projections showing a deficit of Tk 2792.3 billion for FY 2024-25 and Tk 3170.7 billion for FY 2025-26—equating to 5% of GDP each year—the government underscores the need for strategic domestic borrowing. The focus remains on minimizing borrowing costs through traditional external creditors, which are preferred, the document detailed. The strategy for addressing deficits includes an ambitious target of collecting Tk 1200.3 billion from external sources in FY 2024-25 and Tk 1306.4 billion in FY 2025-26, each constituting 2.1% of GDP. Domestic sourcing is expected to contribute significantly more, with plans to collect Tk 1677.7 billion and Tk 1864.4 billion over the same periods, representing 2.9% of GDP. UK's BII supports MSMEs, women entrepreneurs in Bangladesh with $50m debt commitment to BRAC Bank Significantly, the banking sector is anticipated to contribute Tk 1384.9 billion in FY 2024-25 and Tk 1547.3 billion in FY 2025-26. In comparison, non-banking sectors will contribute Tk 292.8 billion and Tk 317.1 billion respectively. Savings certificates will add Tk 191.4 billion and Tk 190.3 billion, while other sources are projected to contribute over Tk 100 billion annually. The government maintains a prudent deficit financing policy to stave off debt distress, keeping the deficit steady at around 5% of GDP and maintaining a stable debt level at around 33% of GDP in recent years, the finance ministry document explained. This balanced approach aims to mitigate the risks associated with deficit financing while prioritizing sustainable economic development. In terms of the medium-term outlook, the government expects domestic borrowing to remain stable at 2.9% of GDP. However, the approach to marketable securities will see a significant nominal increase, with a planned reduction in the reliance on higher-cost National Savings Certificate instruments, which will see a gradual decrease in their contribution to the financing mix. External financing is also projected to increase nominally between FY 2023-24 and FY 2025-26, driven by greater disbursement for large projects and increased budget support, though dependent on the pace of project implementation. Finance ministry to cut corporate tax for industries, consumer goods in upcoming budget Bangladesh has received considerable budget support from external sources in recent years, a trend expected to continue in the medium term, the document stated, highlighting the ongoing commitment to leveraging both domestic and international financial strategies to meet fiscal challenges.

An official of the Ministry of Finance on Thursday said that 24 banks have agreed to issue bonds worth Tk 5,665 crore to help the government pay money to the owners of private power plants. The government owes more than $2 billion or around Tk23000 crore to the private power plants as bills. Bangladesh should discuss issues related to trade benefits at WTO ministerial conf: speakers at a seminar The government is unable to pay the money because of the financial crisis. As a result, the power plants are not able to pay the money taken from banks as loan. Many of such loans provided to those power plants have been defaulted. To deal with the situation, bonds of Tk 12,000 crore will be issued against the loans taken by the power plants, an official said on condition of anonymity. Bangladesh is doing well in IMF terms: Finance Minister Already, 24 banks have agreed to issue bonds worth Tk 5,665 crore, the official said, confirming that an MoU agreement has been signed in this regard in the Ministry of Finance on February 6. A letter may be sent to the Bangladesh Bank from the Financial Institutions Division, Ministry of Finance for issuing bonds this week. Electricity demand may rise to about 17,500 MW in coming summer: Nasrul After that, the Bangladesh Bank will issue this bond in 3-4 working days, the official said.