It’s to stop money laundering: PM – study Book BD staff Reporter: Prime Minister Sheikh Hasina on Wednesday said that the new budget has officially allowed the channel to fetch formal income and to invest it.
“The black money holders have hidden their invisible income, nobody knows, their money needs to be synchronized,” he said at a budget press conference on Wednesday at the Bangabandhu International Conference Center in the capital on Wednesday, taking steps to legalize mice that could not eat it. here Publish all News click Now
If there is no scope for legalizing the meaning of money, then the Prime Minister will have the possibility of money laundering or tax dosage.
After financing finance minister Abul Maal Abdul Muhith Kamal became ill, he lectured at the budget press conference. After unveiling the Parliament on Thursday, the Prime Minister also read a large part of Kamal’s budget speech.
Sheikh Hasina said, sometimes some money is invisible or someone receives cash from her, which can not be used. “At that time, money is tried in London by means of various means and it is used in another way.”
To stop money laundering, the scope for money investing. “We expanded opportunities in the past. In fact, all the government expanded it.”
The goal is to stop indefinite deposits. “At least, money should be disclosed and invested.”
Undefined money can now be invested by paying a certain amount of taxes in real estate, economic zones, and high-tech parks.
“The taxpayers should not be discouraged because of the black money legalization, because the government is taking steps for them.”
Describing the new budget as welfare, he said, “The budget has been prepared in such a way that it will help everyone. Everyone will work sincerely so that the budget is implemented properly.”
Giving warnings to the defaulters of deliberate debt, he said, we will take strict measures against deliberate defaulters.
“We will give them [the default] chance so that they can repay the loan.”
The central database of large lenders has been set up to monitor large-scale debt monitoring and strengthen the credit monitoring system of banks and financial institutions.
At the interest rate, he said the government always tried to limit it to a single number.
“We have expanded some facilities to keep it in a single number, but many private banks are not obliged.
“The budget also says that strict action will be taken in this regard, they must comply with [the bank] [including government guidelines], so that interest rates remain in single digits.”
If the interest rate is in a single number, it will attract the investment, he said, if the rate of interest increases at a compound rate, then people cannot do business.
“We will be amended to that last law.”
He also said, there is nothing to worry about state-run banks, and they are not under much pressure.
In the default loan, Hasina said interest rates are very high, and because of the composite interest rate, the total amount of default loans looks bigger.
“If the actual loan is taken into consideration then the total amount of the default loan will not look bigger.”
In response to a question about growing non-performing loans, he urged reporters how their media house owners took loans from the bank and what they paid back.
Sheikh Hasina has mentioned that there is an urgent need to reform the financial sector and the stock market.
As part of the financial sector reform, a vibrant bond market and other financial instruments such as wage-earning bonds, venture capital, and Treasury bonds will be used.
“We want to see good governance in the stock market.”
The Prime Minister said that the budget will be favorable to the beneficiaries of the rich and economic damages, the Prime Minister said, “There are some people in Bangladesh who are mentally ill and they feel embarrassed, no matter how good you are, they do not see them.”
To ensure fair prices for rice producers, Hasina said, “We have decided to collect rice, we will purchase an additional four lakh tonnes.”
He also said that there is a lot of encouragement for rice production, which allows farmers to spend less on agriculture. And the fund comes mostly from the public sector.
This is the responsibility of the government to care for farmers, and it is being done.
The Prime Minister noted that the government is implementing a much bigger project and to implement more revenue from the domestic sources for their implementation.
“We want to collect revenue without suppressing the pain on the public, but it involves all of the processes, encourages businesses and accelerates economic activities.”
“We think if new investments are made in the country and businesses are running smoothly, more revenue can be collected through the normal process.”
Former Finance Minister Abul Maal Abdul Muhith, Commerce Minister MA Mannan, Commerce Minister Tipu Munshi, Agriculture Minister Md. Abdur Razzak, Finance Secretary Abdur Rauf Talukder, President of the National Board of Revenue Musharraf Hossain Bhuiyan and Bangladesh Bank Governor Fazle Kabir were also present.