Staff Reporter :
Finance Adviser Salehuddin Ahmed has stated that he will refrain from making extravagant promises in the upcoming national budget.
Speaking at a pre-budget discussion with the Economic Reporters Forum (ERF) on Tuesday, Ahmed assured that the budget would be focused on achievable goals rather than monumental projects.
The budget speech, he said, would be concise, spanning around 50-60 pages, and would include initiatives that could potentially be completed during the next government’s term. He added that if these initiatives are not executed, the public would hold the next administration accountable.
Addressing concerns about investment hesitation, Ahmed pledged to encourage private sector investment, emphasising that fostering private sector growth is essential for boosting government revenue.
He outlined key objectives for the upcoming budget, including controlling inflation, restoring economic stability, creating jobs, maintaining stable foreign exchange reserves, and supporting private sector investment.
He also assured that a business-friendly tax system would be implemented.
Regarding tax reforms, Ahmed mentioned plans to rationalise certain taxes and digitalise the revenue system. However, he acknowledged uncertainty over the refund of advance income tax.
In terms of public services, the finance adviser revealed plans to expand existing hospitals rather than building new ones. He also outlined the establishment of a forensic hospital to aid in crime investigations. Ahmed further stated that mega-projects would be avoided, with focus shifted to local, employment-generating projects, with maximum allocations of Tk500-600 crore.
Regarding Bangladesh’s ongoing negotiations with the International Monetary Fund (IMF), Ahmed expressed hope that the country would receive the fourth tranche of the IMF loan in June, despite ongoing discussions over the conditions set by the IMF.
He explained that the IMF had stipulated certain conditions for the disbursement of funds, and while one or two of those conditions have yet to be met, Bangladesh has requested more time to fulfil them. Additionally, the government has requested that two loan tranches be disbursed together in June to ensure a more substantial amount.
Finance Secretary Khairuzzaman Mozumder, National Board of Revenue (NBR) Chairman Abdur Rahman Khan, and Financial Institutions Division Secretary Nazma Mubarak also attended the meeting.
