Kamal rules out possibility of capital flight

Planning Minister AFM Mostafa Kamal has ruled out the possibility of capital flight from the country.

Replying to a question at the post budget press conference in the city on Friday, he said there is no basis behind the claim.  

The Planning Minister said they have no such information and if anyone has it, he or she can share it with the government.

He was seated with Finance Minister AMA Muhith on the dais at the press conference along with Agriculture Minister Begum Motiya Chowdhury, Information Minister Hasanul Haque Inu and State Minister for finance M A Mannan.

The Finance Minister however hinted at possible capital flight in the recent past. In his budget speech he however said, "the Financial Action Task Force (FATF) has lauded our initiative in anti-money laundering and anti-terrorism drive.

"Our initiatives have helped us graduate from the Grey List of risky countries to the list of risk free countries."

He, however, hoped that money laundering and tax evasion will be effectively stooped. Muhith said," Transfer Pricing Cell will start working from July 1, 2014 at the National Board of Revenue. This Cell will be effective in preventing money laundering and tax evasion."