Businessmen at a webinar on Sunday demanded of the government to form a separate authority to ensure accountability of the public servants to curb corruption and also to ensure proper utilisation of public expenditure.
Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman raised such demand at a webinar held on Sunday on the proposed budget for fiscal year (2022-2023).
Noting that accountability if often bypassed in public expenditure, Rizwan said even accountability is often absent to some extent the businessmen. "To ensure accountability, a separate authority should be formed to curb corruption," he added.
Meanwhile, senior journalist and the head of online of the Daily Prothom Alo Shawkat Hossain Masum proposed for forming a public expenditure review commission.
They came up with such suggestions at a webinar titled “Reflections on Budget 2022-23” jointly organised by The Asia Foundation (TAF), Research and Policy Integration for Development (RAPID) and Economic Reporters’ Forum (ERF) held via Zoom Platform.
Planning Minister M A Mannan spoke at the virtual event as the chief guest while Member Secretary, General Economics Division (GED) Dr Md Kawser Ahmed spoke as special guest.
President, Dhaka Chamber of Commerce & Industry Rizwan Rahman and head of online, The Daily Prothom Alo Shawkat Hossain Masum attended the webinar as discussants.
Executive Director of RAPID Dr Abu Eusuf presented the keynote paper.
ERF President Sharmeen Rinvy chaired the event and RAPID Chairman Dr Mohammad Abdur Razzaque moderated the event.
The Planning Minister, however, did not give any positive notion about forming any separate authority to ensure accountability of public servants.
He, however, welcomed the support of the private sector in various operations of the government regarding statistics.
Expressing different opinions over the government's recent offer of tax amnesty to bring back the undisclosed money of the Bangladeshis abroad in the mainstream of the economy, Mannan said none has laundered money abroad for bringing those back. "I personally believe that the chance is very little for bringing back money through amnesty," he added.
The Planning Minister, however, opined that such a facility has been offered considering the practical situation adding, "If money comes from abroad, then it's good, if not, there will be no loss,"
He also suggested that such tax amnesty should be applicable only for once while the government should be strict enough not to repeat this facility.
Taking part in the discussion, the speakers also opined that giving tax amnesty for bringing back laundered money is unethical.
RAPID Chairman Dr MA Razzaque suggested for remaining cautious over the GDP growth projection adding that investment might be reduced since the trend of savings has declined due to inflation.
He also opined that the government's target for huge bank borrowings from domestic sources might put a negative impact on investment.
The renowned economist also wondered over the decline in budgetary allocations in OMS, food Programme and in other social safety net programmes compared to the outgoing fiscal year
DCCI President Rizwan Rahman opined that the proposed budget for the next fiscal year (FY23) has been more business-friendly than people-friendly.
He also proposed for raising allocation in the social safety nets considering the severe flood situation in Sylhet and other parts of the country.
Criticising the proposed provision for availing 2.50 per cent tax facility through making transactions of over Taka 12 lakh through banks, the DCCI President said this proposal is not practical and none would be able to avail such facility this time.
He also expressed different opinion over the proposal for making a fine of Taka 50 lakh by the tax officials adding, "The businessmen are often harassed while giving tax. If the revenue management system is fully automated, then the incidents of harassment will be reduced."
While making the key-note presentation, RAPID executive director Dr M Abu Eusuf highlighted various challenges of the macroeconomy in the next fiscal year and the possible measures for overcoming those.
GED member Dr M Kawser Ahmed highlighted various steps of the government to contain inflation.
"The government knows very well what needs to be done, but the financial capability matters." he added.
ERF President Sharmeen Rinvy proposed for giving tax amnesty in a time-bound manner.
