29 June 2017, Thu, 7:50

Tricky budget passed just to impress people ahead of next election

Budget for 2017-18 fiscal year passed; Secretary General rejects as it goes against mass interest

Secretary General of Bangladesh Jamaat-e-Islami, Dr. Shafiqur Rahman has issued the following statement on 29th June, 2017 reacting to the fiscal bill and budget of the 2016-17 fiscal year which have been passed today in the National Parliament by a voice vote.

“Though the finance minister claimed this budget as the best one of his life but his claim is not acceptable at all to the country’s business communities and the general masses. In the proposed budget of this fiscal year, finance minister proposed some controversial decisions including imposing 15 percent flat VAT rate and imposing excise tax on the bank deposits which earned huge criticism from all quarters. In particular, the peoples became extremely worried apprehending the worst impact on essential commodities as the consequence of the 15 percent flat VAT rate. The criticisms reached at such a peak that even in the budget discussion, the parliament members vehemently criticized the finance ministers and several of them voiced for his resignation. At the last stage, some senior ruling party leaders and his cabinet colleagues defended the finance minister.

But even such step failed to ease the situation. Subsequently, the Prime Minister in her budget speech became compelled to suggest the finance minister to drop those controversial decisions and ask the minister to postpone the proposed VAT law for at least two years, to cancel the excise tax on one lac taka deposit and to reduce the import tax on rice from 28 percent to 10 percent. Such recommendations proved that, Prime Minister became forced to modify the budget proposal in order to save his party from mass resentment in the next national election.

The countrymen are well acknowledged of government’s such ill tricks. The Premier has adopted such strategy to surpass the next election.

Under the regime of the incumbent government, ruling party leaders looted the bank money widely. Capital market investment also has been looted. The government has collected money from general people’s pocket by imposing different kinds of taxes. Even though, additional amount of money has been allocated in this budget to ensure the smooth function of those corrupted banks. A rule has been made to keep 4 members from a same family as director of the bank. National economy is seriously struggling due such corruptions and malpractices of the government.

The people did not accept the budget as it is full of tricks and it has been placed just to pass the election. People of all walks have rejected the budget.

The countrymen have to launch massive resistance against all types of ill strategies and foul tricks and threats and intimidations of the government.”