POST TIME: 13 March, 2018 00:00 00 AM
Tk 4,75,000cr budget to be placed in JS on June 7: Muhith

Tk 4,75,000cr budget to be placed in JS on June 7: Muhith

Hinting that the next national budget of around Tk 4,75,000 crore for FY19 will be placed before the Jatiya Sangsad on June 7, Finance Minister Abul Maal Abdul Muhith yesterday said it is necessary to think about putting an end to the loan default culture in the country, reports BSS.

“Now it’s time to think about this because default culture has continued somehow and such strong efforts were not taken to put an end to it,” he said while speaking at a pre-budget meeting with the country’s renowned economists and professionals held at the NEC conference room in the city’s Sher-e-Bangla Nagar area.

Renewed economists Prof Rehman Sobhan, former finance minister Dr M Sayeduzzaman, former Bangladesh Bank Governor Dr Mohammad Farashuddin, Dr Debapriyo Bhattacharjee, Dr Mustafizur Rahman, Chairman of Industrial and Infrastructural Development Finance Company Limited (IIDFC) M Matiul Islam, former Finance Secretary Dr Mohammad Tareque, Prof Khandoker Bazlul Haque, Fahmida Khatun, former Secretary Siddiqur Rahman, Atiqul Islam of North South University, Ifty Islam of AT Capital attended the meeting.

State Minister for Finance and Planning MA Mannan and secretaries concerned were also present at the meeting. Referring to the suggestion from Prof Rehman Sobhan not to give exemption to the loan defaulters during the election, Muhith said, “This time I can ensure that this won’t happen. Definitely it won’t happen.”

He also backed the proposal of giving reward or imposing penalty for cost and time overrun of development projects adding that the situation in project approval and implementation has improved a lot over the years while backlog of projects is not a serious issue right now.

Responding to the suggestion from renowned economist Dr Debapriyo Bhattacharjee for creating an SDG Trust Fund, Muhith said the government can think about it.