Undisclosed money may be legalised in next budget

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FE Report
The government is considering the issue of making 'undisclosed money' legal in the next budget, said Commerce Minister Muhammad Faruk Khan Thursday.
"The issue has been discussed and the finance minister has already made a comment on the issue," he said at the monthly luncheon meeting of the France-Bangladesh Chamber of Commerce and Industry (CCIFB) at a city hotel.
Finance Minister AMA Muhith a few days back gave a similar hint that the government would allow the undisclosed money to come to formal economy.
Mr Faruk, however, said 'black money' would not be made eligible.
The commerce minister said the government has taken several short-term measures to increase power supply by 700 to 800 megawatt within this year.
"The government has shown keen interest in nuclear power plant as it is the cheapest one and so far we have received four proposals from four countries," the minister said.
In the meeting, he welcomed any French investment in this connection, he said.
In the next five years, power generation would be raised to over 5,000 megawatt to meet the increasing demand.
"Foreign direct investment is related to confidence of investors and image of countries," he said.
"The present government is business-friendly and it will do whatever needed to increase trade, commerce and industry," he added.
President of the Chamber Alamgir M Rahman said CCIFB has proposed to hold international leather goods and global sourcing fashion fairs in Paris in 2009. It wants to hold global food fair and world packaging exhibition in the same place in 2010.
"The fairs have great potential to increase exports of Bangladesh," he said.
The CCIFB, the first European joint chamber in Bangladesh, started its operation in 1995 with 35 members and now it has over 100 members. The members are French companies operating in Bangladesh and Bangladeshi companies representing French interest as distributors, agents and liaison offices.
French Ambassador Charley Causeret, embassy officials and a large number of members of the Chamber attended the meeting.