Green tax likely to cut pollution

The government is considering imposition of green tax to discourage pollution.

Environment, Forest and Climate Change Minister Md Shahab Uddin said this while speaking as the chief guest at an award-giving ceremony titled “Green Inclusive Business Champions”.

The event was organised by Greentech Foundation, Bangladesh in collaboration with the Bangladesh Bank at Gulshan Shooting Club on Tuesday evening.

The minister said the government is considering investment tax exemption for environmentally friendly equipment and resources and income tax exemption for green service providers with a view to having a positive impact on environmental pollution control, environmental development and mitigation of global climate change.

“At the same time, the imposition of green tax to discourage pollution is also underway.  In terms of green tax incentives and the imposition of green tax, the main objectives are to increase investment in environmentally friendly technology sector; encourage industries to mobilize resources rich in green technology; and discourage pollution,” added Shahab.

The government had earlier set up a fund of Tk 200 crore through the central bank to encourage the use of clean and green technology in industrial pollution control for green inclusive business development. Initiatives have been taken up to invest more than 50 green products in green projects.

A special fund has been set up by the Department of Environment for the development and dissemination of environmentally friendly green technologies, conducting research and encouraging eco-friendly business through which entrepreneurs will be encouraged to set up eco-friendly factories and businesses. 

Bangladesh has no choice but to enter the “green economy” to avoid the growing risk of environmental pollution, vowed the minister.

At the event, awards were given to 10 green projects selected in phases out of 80 green project ideas.

Climate Vulnerable Forum (CVF) president Bangladesh Special Envoy Abul Kalam Azad, former secretary Nazrul Islam Khan and Bangladesh Bank Deputy Governor Abu Farah Md Naser were present as special guests at the programme presided over by the Greentech Foundation Chairman Prof Dr AKM Mazid.