The non-tax revenue collection has dropped by 25 per cent in the first two months of the current fiscal year, leading to fall in the overall revenue earnings, according to official statistics.
The overall revenue earnings stood at Tk 230.18 billion during the two months ending August last. It was Tk 236.26 billion during the same period in 2013.
During July-August period last, the government received Tk 56.92 billion from the non-tax sources, a 25 per cent lower than that of the previous corresponding months in 2013.
Fall in the profit and dividend in many state-owned organisations is the main reason behind it, sources hinted.
Dividend and profit are the largest part of the non-tax revenue. The government earmarked receipt of Tk 49.32 billion from the source.
Non-tax revenue is the second largest of the three sources of revenue mobilisation.
They also said delay in deposits with the national exchequer by many government organisations is also another reason for the fall.
Sources said profits from the central bank are a significant amount paid to the government and its squeeze affects the non-tax revenue.
The central bank pays more than Tk 40 billion keeping its required funds.
The Bangladesh Bank's operating profit reportedly decreased in the last fiscal year while the foreign currency revaluation loss was accounted for.
The central bank is yet to disclose its losses and is likely to reveal it in its annual report for the 2013-14 fiscal.
Bangladesh kept its over US$ 22 billion foreign exchange reserve in different major currencies and bonds and its earnings from this source dropped as local currency Taka has turned strong.
Besides, the central bank kept its gold and silver with foreign banks and its revaluations have fallen following a fall in the prices of the precious metals in the international market.
Ahsan H Mansur, executive director at the Policy Research Institute of Bangladesh (PRI) said it is very difficult to comment on a statement of the non-tax revenue performances prepared for only two months.
He, however, said this might rise at the later part of the fiscal year if the government takes initiatives to realise it.
He said administrative fees and charges might drop this year following poor sales of lands.
The non-tax revenue consists of nearly 20 per cent of total revenue receipts.
Receipts for services rendered, from interests, fines, penalties, rents, leases and recoveries are also important components of the non-tax revenue source.
The government receives a substantial amount from the defence receipts. The head used to contribute Tk 9.0 billion earlier. It now shot up nearly three times to over Tk 25 billion.
The government targeted revenue receipts of Tk 276.62 billion from non-tax sources for the entire fiscal year.
The government has a target of earning Tk 1,497.20 billion from the National Board of Revenue (NBR) while Tk 55.72 billion from the non-NBR sources for the current fiscal year.
jasimharoon@yahoo.com
