Legalising black money: Kamal drops hints of continuation
Staff Correspondent
Staff Correspondent
The controversial move to legalise untaxed money with ease, which was absent in Finance Minister AHM Mustafa Kamal s proposed fiscal measures for the next financial year, might continue, after all. If [the step] is profitable, we will try to continue it. We will see one more month before taking any decision, Kamal said at a post-budget media briefing yesterday.
The option to legalise untaxed income was always present in some form but in June last year, Kamal had expanded the ambit for it.
At present, black money can be whitened by investing it in any sector and without facing any questions on the source of the funds. This opening is due to close at the end of the current fiscal year on June 30.
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PM launches Bangladesh Infrastructure Development Fund
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DHAKA, March 15, 2021 (BSS) – Prime Minister Sheikh Hasina today inaugurated Bangladesh Infrastructure Development Fund (BIDF) aiming to finance different development projects from the country’s own fund.
The BIDF that formed taking funds from the foreign exchange reserves began its journey through financing to the capital and maintenance dredging in Ramnabad Channel of the Paira Port.
To this end, a tripartite agreement between the Finance Division, Paira Port Authority and Sonali Bank was signed today at the Finance Division.
BIDF is the first such its kind in South Asia as well as in the world which would finance the development activities.