PM defends scope for money whitening

Supporting the budgetary provision for legalising black money, Prime Minister Sheikh Hasina yesterday said black money should be brought into the legal channel first.

"The money should be brought into an appropriate place [banking channel] first with payment of a nominal amount [tax]. Then they [black money holders] will have to pay tax regularly…. If you want to catch fish, you have to use bait," she said.

The premier was addressing a discussion, organised by Awami League at its Dhaka district office in the capital's Tejgaon, marking the historic Six-Point Day.

Hasina, also the AL president, said many raised questions regarding the budgetary provision for legalising black money and argued that it would discourage those who pay taxes legally.

"Prices of different products have gone up. Anyone who owns a piece of one katha land is a millionaire [kotipoti] now. But nobody sells land at government-fixed rates. People get some additional money from the sale of land at higher prices. They keep the extra money out of the banking channel," she added.

The PM said the size of the former BNP government's last national budget was Tk 62,000 crore and the figure went up to Tk 68,000 crore during the rule of the caretaker government (in 2008). However, the AL government has been able to place a budget of Tk 797,000 crore in parliament this time, she added.

"In the proposed budget [for 20024-25 fiscal year], we have attached the highest priority to education, health, agriculture, local industries and social safety to ensure the basic rights of the people," Hasina said.

Talking about the high inflation worldwide, the AL chief said people from the limited-income groups are suffering due to inflation. "But we have introduced family cards for them so that they can purchase some essentials, including rice, pulse and edible oil, at fair prices. We are providing food to the extreme poor."

Besides, the government is providing financial assistance to the people under some 150 social safety net programmes and providing free textbooks to school students and some 30 types of free medicines from the community clinics to the people. 

"The prices of commodities usually go up during the monsoon season. Keeping this in mind, we will start the sale of commodities using family cards."

Terming the control of inflation the biggest challenge, Hasina said production and supply of food must be enhanced.

About the budget deficit, the PM said the budget deficit is now 4.6 percent. In many countries, including the developed nations, the figure is higher than this, she added.

She reiterated her call for the people to cultivate every piece of land to boost food production in the country.

About the historic six-point demand, Hasina said it was the "Magna Carta" for the Bangalee nation, which ultimately brought the country's independence.

Drawing a comparison of deprivation between the then East Pakistan and West Pakistan, the premier said Bangabandhu Sheikh Mujibur Rahman had strongly protested the long-running deprivation.

She highlighted how the Father of the Nation carried out campaigns across the country to make the six-point demand popular among the people.

The AL chief asked her party leaders and activists to stand by the people of the country and work for them.

On June 7, 1966, Bangabandhu launched a massive movement against the misrule of the Pakistanis on the basis of the six-point demand.