Independent MP AK Azad from Faridpur-3 yesterday demanded that the government publish a list of loan defaulters in parliament.

He said these loan defaulters looted the bank's money and laundered it abroad.

Azad made this statement during the general discussion on the proposed budget for the 2024-25 fiscal year in parliament.

According to Bangladesh Bank, the official amount of defaulted loans is around Tk 1.82 lakh crores, but the actual amount is closer to Tk 5 lakh thousand crores, Azad claimed.

"Everyone knows who took this money. I have requested the finance minister to reveal their names in parliament for the sake of transparency and accountability. They are the ones who looted the bank's money and laundered it abroad," he said.

Azad also opposed the proposal to allow the whitening of black money with a 15 percent tax, arguing that it contradicts the Awami League's election manifesto, which declared zero tolerance for corruption.

"It is not understandable how the sovereign parliament can legalise the laundering of black money," he said, questioning why the source of black money cannot be scrutinised.

He praised the leadership of the prime minister, noting that Bangladesh is on the verge of transitioning from an underdeveloped country to a middle-income one by 2026.

However, he raised concerns about the budget allocation, noting that operational expenditure is estimated at Tk 5 lakh 6 thousand 971 crores, with 22.1 percent allocated to public administration.

He suggested forming an administrative committee to evaluate the necessity of so many ministries and departments.

Azad criticised the expenditure on vehicles for ACs and UNOs, questioning the necessity of such expenses when, in neighbouring India, ministers often use personal cars.

 He also highlighted the challenges faced by entrepreneurs, including high interest rates on loans, insufficient electricity and fuel, and increased transport costs, contrasting this with the investment incentives offered by Indian states.

Jatiyo Party MP Masud Uddin Chowdhury also criticised the government's policy on whitening black money, arguing that it discourages honest taxpayers.

"Fifteen percent tax is being imposed to turn black money into white. It will discourage honest taxpayers and encourage black money holders who do not pay taxes," he said.

Independent MP from Kishoreganj-2, Suhrab Uddin, however, argued that a 15 percent tax would not incentivise people to disclose black money. He suggested reducing the tax to 5 percent to encourage the declaration of undisclosed income.