“The people of the country have the right to the money that has gone out. Don’t oppose it. If you oppose, it will not come back. What is your benefit if it doesn’t come back? You may rebuke me, but there will be no benefit.”
Finance Minister AHM Mustafa Kamal
Finance Minister AHM Mustafa Kamal yesterday defended his budgetary proposal allowing people to bring back money from abroad and legalise it without facing any question, saying the move is aimed at including it in the mainstream of the economy and reaping benefits.
Money laundered out of the country can be legalised in exchange for a 7 to 15 percent tax under a new proposal aimed to boost revenue and mobilise foreign currencies.
But economists as well as Transparency International Bangladesh (TIB) have called the scope unethical as it would encourage more money laundering.
In his post-budget media briefing at the Osmani Memorial Auditorium in the capital, Kamal said the initiative should not be opposed.
“The people of the country have the right to the money that has gone out. Don’t oppose it. If you oppose it, it will not come back. What is your benefit if it doesn’t come back? You may rebuke me, but there will be no benefit.”
According to the finance minister, there is no guarantee that people who have built houses in other countries with ill-gotten money from Bangladesh or laundered money will not face any questions after 10 years.
He says…
