Finance Adviser Salehuddin Ahmed says the government is not desperate to secure the next installment of the $4.7 billion loan package from the International Monetary Fund, or IMF, as Bangladesh's macroeconomic situation is "fairly stable" at present.
Salehuddin Ahmed said disbursement of the loan of the fourth tranche of International Monetary Fund's (IMF) $645 million has been delayed.
* Fourth installment of IMF loan may be released in June* The country's macroeconomic situation is fairly good
* IFAD is making big contribution to the development of Bangladesh's agricultural
* Many people in villages are earning a lot of taxable money but not paying taxesInstead of March, proposal for releasing the fourth tranche of the loan may be presented at the executive board meeting in June. At the same time, the proposal for the fifth tranche will also be taken up.
Speaking to reporters on Monday after a session of the Deputy Commissioners' Conference at Osmani Memorial Auditorium in Dhaka, he addressed concerns over the IMF loan conditions and the government's approach to meeting them.
Bangladesh has been asked to meet a series of financial sector's reform for access to the $4.7 IMF billion IMF and for that the country must implement a series of financial sector reforms.
The agency has expressed however concerns over the country's slow progress in meeting the key conditions, particularly regarding exchange rate adjustments and revenue collection.
Emphasizing that these conditions cannot be fulfilled overnight, Salehuddin said, "We have tasks to complete, but we are not rushing. Some people think we are begging for money, but we are following the rules and meeting the conditions as required."
The proposal for the fourth tranche was initially supposed to be presented at the board meeting on February 5, but it was postponed to March 12. In the second phase, it was further postponed to June. If the board approves it, the two tranches can be released together.
On a recent meeting with the International Fund for Agricultural Development (IFAD), the financial advisor said, "IFAD is making a big contribution to the development of Bangladesh's agricultural sector.
"The development we see in our agricultural, fisheries and livestock sectors is because of them. Otherwise, we would not have been able to feed 170 million people. We have asked them to finance more in these sectors."
The Finance Advisor said all businessmen, doctors and lawyers earning a taxable income in the districts towns, upazilas and rural areas will have to pay income tax. The Deputy Commissioners have been asked to prepare a list of taxable persons and collect tax from them.
As per the Finance Advisor DCS have said many people in villages are earning a lot of income. But they are not paying tax. We now want to increase revenue by increasing tax collection. The NBR will now take initiatives. The DCs will give a list of them.
He said initiatives will be taken to bring businessmen who sell a lot, doctors and lawyers who charge high fees to preserve receipts or digital payment methods so that they can be brought under the tax net. The three-day Deputy Commissioners Conference will end on Tuesday.
