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BNP opposes VAT, SD hikes, terms govt decision as ‘imprudent’: Fakhrul

Published : Sunday, 19 January, 2025 at 12:00 AM  Count : 368
BNP Secretary General Fakhrul Islam Alamgir on Saturday described increasing value added tax (VAT) and supplementary duty as "imprudent". 

"We advised the government to find other means of increasing revenue income, " he said at a press conference held at BNP Chairperson's Gulshan office.

He said, "The interim government increased VAT and supplementary duty  on more than 100 products and withdrew tax exemptions on certain items, including daily necessities such as food, clothes, medicines and mobile internet services."

"This decision will further increase negative economic impact on common  people, particularly the poor and the middle class," he said. 

Fakhrul said, "Awami League destroyed the economy of the country by patronising corruption and laundering  money in the name of mega projects and development. The country's total loan  exceeds Tk 20 lakh crore. Depositors cannot withdraw their money from banks due to liquidity crisis." 

"In this situation being unable to fund the   budget with revenue collection the government increased VAT and duty on 100 products," he said.  

Fakhrul said, "The decision to increase VAT and customs duties will increase  pressure on the people."

"The fascist Awami League government printed money causing high inflation, and fueled price hike of essential commodities," he said. 
Fakhrul said that the interim government's decision would harm  the economy.

He said, "The interim government has printed Tk 22,500 crore, although they said money will not be printed in any condition of the economy." 

Fakhrul said, "Printing money has increased inflation and the decision of increasing VAT will further increase prices of essential commodities. It will be a great burden on the people." 

"We demand immediate withdrawal of the irresponsible decision of increasing VAT and duties," he said. 

He requested the government to take  alternative measures and reduce unnecessary development expenditures instead of imposing VAT and supplementary duties on essential items.

He said, "The development activities  of the fallen Awami League government will bring no financial returns. Many of their development activities were planned for laundering money out of the country." Fakhrul said, "For this reason, government should find out and drop less productive projects. It will reduce the cost by about 20 per cent." 

He said, "After the fall of the fascist Awami League, the international community came forward to help us. So, the interim government can request the IMF to relax its tough loan conditions." 

Fakhrul also said, "We have to remember that the poor people in the village do not die for food. But they spend the day half-fed. 

Nowadays, with rising food price and other commodities, it has become very difficult for them to run their households." 

"Parents of the poor are sending their children to work by stopping education just to survive. Therefore, the impact of  increased VAT and duty is bound to affect all the sectors, including  education," Fakhrul said. 

He said, "Recovering money looted from banks and laundered will be an important step". 

"According to the current government's white paper, it is now imperative to recover about $234 billion or about Tk 28 lakh crore looted money," he said. 

"I will request the government to take people's opinion into consideration for formulating policies, he said.

BNP Standing Committee Member Amir Khasru Mahmud Chowdhury and chairperson's adviser Ismail Zabiullah were  present.

Amir Khasru Mahmud Chowdhury said the interim government will be in danger if it implements the budget of the fallen fascist Awami League government.

He said the Interim government should make an interim budget. Without doing that, implementing Awami League government's budget will bring disaster.



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