Transparency International Bangladesh (TIB) has expressed deep concern and outrage over the initiative to whiten black money without questioning the source in the proposed budget for the FY 2020-21.
Calling it “immoral, discriminatory and unconstitutional”, TIB said the initiative legitimizes money laundering and urged the government to cancel the system.
The organization has expressed frustration over the lack of strong measures in the budget to ensure control and good governance in the health sector, which has been plagued by long-term irregularities and corruption by vested interests.
It said that two new sections have been added to the Income Tax Ordinance in the budget, ignoring the government's anti-corruption pledge and the country's customary laws in the name of economic recovery after coronavirus fallout. This provides an unrestricted opportunity for the corrupt to buy land, buildings, apartments, cash, bank deposits, savings certificates, undisclosed money in shares and bonds.
At the same time, it has been proposed to repeal the provision of questioning the source of money or resources by the Anti-Corruption Commission (ACC) or any other authority.
Reacting to the budget proposal, TIB executive director Dr Iftekharuzzaman said, “This is a completely opposite and disrespectful step of zero tolerance towards corruption declared by the Prime Minister, which cannot be accepted in any way. Providing such impunities every year for the corrupt, the country's economy has not benefited, no significant revenue has been collected and no investment also has been made. Rather, it tolerates immorality.
“Contrary to the constitution, this system is discriminatory against the citizens who earn an honest living,” he further said.
