Budget lacks measures to ensure transparency: TIB

Staff Correspondent | Published: 01:17, Jun 11,2018 | Updated: 01:45, Jun 11,2018

 
 

Transparency International Bangladesh on Sunday expressed deep concern over absence of promised initiatives in the proposed national budget to reform the crisis-stricken banking sector shattered with irregularities.
In a statement, the corruption watchdog also said that the proposed budget lacked expected transparency and demanded specific strategic directions to ensure transparency and accountability in implementation of the proposed budget.
It also condemned the continuation of the provision for legalising undisclosed money and allocation to subsidise the loss-making state-owned enterprises with the taxpayers’ money.
TIB executive director Iftekharuzzaman said that absence of initiative to reform the banking sector suffering from irregularities and corruption was a deviation of the government from its promise made with the depositors.
He said that the proposal of reducing corporate income tax instead of bringing the loan defaulters, corrupt and unholy alliance under accountability was discriminatory and unconstitutional.
Offering the scope for legalising untaxed money is also unethical, discriminatory and a state-sponsored corrupt practice, he said.
The organisation, however, expressed satisfaction on the proposed measures to increase the coverage of social safety net and the monthly allowance and the number of beneficiary of the programme as well as the highest ever allocation for development of women. 

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