The country’s banking sector is facing turmoil serving the vested interest of a tiny group of people. They must be punished to ensure good governance in the sector.
Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) leaders Saturday raised the demand at a post-budget press conference at the organisation’s Matijheel office in the capital.
FBCCI president Shafiul Islam Mahiuddin briefed the media about the organisation’s instant reaction on proposed budget. FBCCI Vice Presidents Sheikh Fazle Fahim and Muntakim Ashraf also attended the briefing.
Shafiul said, “The banks’ money is the deposit of the people. FBCCI won’t provide advocacy for those who loot that money.”
Commenting about the volume of budget, he said, “Transparency, accountability and monitoring must be ensured to implement this big budget. Otherwise, its implementation will face bigger challenge.”
“Working capacity of National Board of Revenue (NBR) has not increased keeping pace with its revenue income and the country’s financial development,” he observed.
He hoped that the reduction of corporate tax in banking sector will lead to reduction of interest rate of bank loans to single digit.
Tax free income limit has remained unchanged at Tk 2.5 lakh, but we requested to raise the limit to Tk three lakhs; because abusing the Section-120 of the Income Tax Ordinance, businessmen are often harassed. We demand to scrap this Section.
In reply to a query, Shafiul said, “I don’t want to comment on issues under jurisdicti9on of court. We want punishment for looters of bank money.