Muhith optimistic about 6.7 pc growth rate

Finance Minister Abul Maal Abdul Muhith Monday expressed his optimism that the country would achieve 6.7 per cent growth rate this financial year against the backdrop of progressive indication in major economic areas, reports BSS. The minister said this while presenting a report in parliament on this year's budget implementation, income and expenditure scenario and a macro-economic analysis in the first two quarters of the current fiscal. The minister said some quarters had termed the target of achieving 6.7 per cent economic growth as 'ambitious'. "But I firmly believe that the present government has the ability to achieve the goal, he added. Referring to a study of Japan International Coopera­tive Bank (JICB), he said Bangladesh's position as a destination of foreign investment stood at 15th in the world from 28th in 2009. Bangladesh has received foreign investment proposal of Tk 190 billion in November 2010 against only 4 Tk 43 billion in October 2009, the minister said. Another report adds: The Tax Ombudsman (annulment) Bill, 2011 was placed in the House Monday. Finance Minister Abul Maal Abdul Muhith piloted the bill aimed at cancelling the Tax Ombudsman Act, 2005. The bill proposed for handing over all movable and immovable property, cash and deposited money as well as other assets and documents of the Tax Ombudsman Office to the government. While introducing the bill, the finance minister said there are conflicting issues among the act, rules and tax-related laws framed for Tax Ombudsman Office. As a result, the Tax Ombudsman Office became ineffective as there is no obligation for implementation of the recommendations under the Tax Ombudsman Act and Rules. Besides, he said, there is confusion in the public minds about the effectiveness of the organization as there remains unclearness in the tax-related laws in implementation of the recommendations of Tax Ombudsman. "The organization has been turned into a costly and ineffective organization instead of removing misrule of the tax administration," he said.