Economy under review to assess overall situation: Mahmood Ali

The government is reviewing the economy of the country to assess the overall situation, Finance Minister Abul Hassan Mahmood Ali told parliament today.

"The complete scenario will be clear after some days," he said while responding to a supplementary question from Independent MP Sohrab Uddin.

Sohrab Uddin said country's economy is in turmoil due to the dollar crisis and money laundering. He wanted to know whether the government would give the opportunity to legalise undisclosed income by paying extra tax to tackle the crisis.

In reply, the finance minister said the government is reviewing the entire situation.

"Not only black money, but the entire economic situation is under review. After seeing initial symptoms, it seems that the situation is improving. After a few more days, I will get a complete picture. Until then, please be patient," he said.

In reply to another query, Mahmood said that some 36.62 lakh people have submitted income tax returns in the country till January 2024.

The minister also informed the House that the number of TIN holders in the country is 99.70 lakh.

"Some 36.62 lakh returnees have submitted Tk 5,901 crore tax, which was deposited to the national exchequer," he said.

In response to another question, Mahmood said as a result of the government's action, point-to-point inflation has started decreasing gradually from November 2023.

According to the latest data, point-to-point inflation stood at 9.41 percent in December, while it was 9.74 percent in June, he added.