Govt trying to ‘bring back funnelled out money’
Friday, 29 June 2007
Finance Adviser Mirza Azizul Islam said Thursday they were trying to bring back money apparently funneled out of the country by corrupt politicians and business magnets.
"We're on that track. Bangladesh Bank is doing its best… government is trying its best," he told a discussion meeting at the National Press Club, reports UNB
The adviser, however, said that the Philippines had taken 17 years and Nigeria 5-6 years to bring back the money illegally transferred out of the countries.
SID Bangladesh chapter and Action on Disability and Development jointly organised the discussion with SM Al-Husainy in the chair. Former Bangladesh Bank governor Farashuddin Ahmed, Pubali Bank managing director Ibrahim Khaled and UNDP Country Director Manoj Basnyat, among others, took part in the discussion.
Bangladesh Economic Association (BEA) President Kazi Kholiquzzaman Ahmad presented the keynote paper on millennium development goals (MDGs) in the context of sustainable development with reference to the disadvantaged including the disabled people.
Responding to the points raised by the discussants, the finance adviser said that it is unrealistic to think about transforming Bangladesh into a welfare state with the lowest tax-GDP ratio of slightly more than 10 per cent.
"I'm trying to take the ratio to 10.8 per cent next fiscal year," he said referring to the 2007-08 budget target. The tax-GDP ratio is 50 per cent in developed, welfare states of the world, he added.
"We lack adequate resources as well as huge wastage of available resources. We need to bring realism in our thought process," Aziz said.
About the government's development priorities, he said the government has identified power and road communication as the two main targets of infrastructure development.
Netherlands Charge d' Affaires in Bangladesh Fritz Meijnbert stressed on the need for public-private partnership to improve service delivery to the poor.
He said the need of disabled people is not being met properly. It must be included in the development efforts of the country for its sustainable development.
"We're on that track. Bangladesh Bank is doing its best… government is trying its best," he told a discussion meeting at the National Press Club, reports UNB
The adviser, however, said that the Philippines had taken 17 years and Nigeria 5-6 years to bring back the money illegally transferred out of the countries.
SID Bangladesh chapter and Action on Disability and Development jointly organised the discussion with SM Al-Husainy in the chair. Former Bangladesh Bank governor Farashuddin Ahmed, Pubali Bank managing director Ibrahim Khaled and UNDP Country Director Manoj Basnyat, among others, took part in the discussion.
Bangladesh Economic Association (BEA) President Kazi Kholiquzzaman Ahmad presented the keynote paper on millennium development goals (MDGs) in the context of sustainable development with reference to the disadvantaged including the disabled people.
Responding to the points raised by the discussants, the finance adviser said that it is unrealistic to think about transforming Bangladesh into a welfare state with the lowest tax-GDP ratio of slightly more than 10 per cent.
"I'm trying to take the ratio to 10.8 per cent next fiscal year," he said referring to the 2007-08 budget target. The tax-GDP ratio is 50 per cent in developed, welfare states of the world, he added.
"We lack adequate resources as well as huge wastage of available resources. We need to bring realism in our thought process," Aziz said.
About the government's development priorities, he said the government has identified power and road communication as the two main targets of infrastructure development.
Netherlands Charge d' Affaires in Bangladesh Fritz Meijnbert stressed on the need for public-private partnership to improve service delivery to the poor.
He said the need of disabled people is not being met properly. It must be included in the development efforts of the country for its sustainable development.