Govt may lose Tk 10b in revenue from tobacco sector
Tuesday, 21 April 2009
The government appears to lose in revenue over billions of Taka from the cigarette sector in the current fiscal year for lack of manpower in the Security Printing Corporation (SPC) Bangladesh Ltd, reports UNB.
The Security Printing Corporation has been suffering from a lack of manpower caused by "unusual delay" in submitting reports on job seekers by the National Security Intelligence (NSI).
The Security Printing Corporation (Bangladesh) Ltd in a letter signed by M Kalimullah, deputy director general (Purchase-Sales), on April 5 informed the National Board of Revenue (NBR) that it cannot appointment staff due to unavailability of NSI reports.
An NBR official, preferring anonymity, told the news agency that the negligence of the NSI in submitting its reports for appointment to the Security Printing Corporation might cause the national exchequer to suffer a loss of Tk 10 billion (1000 crore) in revenue.
"We earned Tk 32.11 billion (3211 crore) up to February this year, but our target is to earn more than Tk 50 billion (5000 crore) this fiscal year. The supply of cigarette band-roll/stamp might stop our growth in revenue earnings from this sector," he said.
"Although the Security Printing Corporation has been asked by the NBR to increase the printing of cigarette band-roll/stamp by 15 per cent every year, its manpower and machineries could not be increased accordingly," the letter said.
The Security Printing Corporation has been suffering from a lack of manpower caused by "unusual delay" in submitting reports on job seekers by the National Security Intelligence (NSI).
The Security Printing Corporation (Bangladesh) Ltd in a letter signed by M Kalimullah, deputy director general (Purchase-Sales), on April 5 informed the National Board of Revenue (NBR) that it cannot appointment staff due to unavailability of NSI reports.
An NBR official, preferring anonymity, told the news agency that the negligence of the NSI in submitting its reports for appointment to the Security Printing Corporation might cause the national exchequer to suffer a loss of Tk 10 billion (1000 crore) in revenue.
"We earned Tk 32.11 billion (3211 crore) up to February this year, but our target is to earn more than Tk 50 billion (5000 crore) this fiscal year. The supply of cigarette band-roll/stamp might stop our growth in revenue earnings from this sector," he said.
"Although the Security Printing Corporation has been asked by the NBR to increase the printing of cigarette band-roll/stamp by 15 per cent every year, its manpower and machineries could not be increased accordingly," the letter said.