Disclosure of undisclosed money goes against polls pledge: TIB

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The government's proposal to allow disclosure of undisclosed money is against its election pledge, said Transparency International Bangladesh (TIB) in a post-budget reaction Friday, reports bdnews24.com.
In a press release, TIB Executive Director Iftekharuzzaman said it was incompatible with good governance and prevention of corruption, the campaign promises of the ruling party. In an unprecedented measure, Finance Minister AMA Muhith proposed "acceptance of undisclosed money without any question during the period from July 1, 2009 to June 30, 2012 provided that 10 per cent tax was paid and it was invested in certain new industries such as physical infrastructure facilities and shares of companies listed on the stock exchange.
"Awami League said in its election pledge that stern action would be taken against the owners of black money but its first budget would encourage them to evade tax," he said.
"On the one hand the government has pledged to increase revenue earning but on the other it is encouraging tax evasion.
"This is a contradictory position," he added.
TIB, however, welcomed the emphasis on public-private partnership (PPP) in the proposed budget.
Reflection of election pledges to establish good governance and curb corruption in the budget speech was encouraging, it said.