Whitened black money to add to economy: PM
Govt wants to extend the facility to prevent piling up of black money
Prime Minister Sheikh Hasina has said the opportunity to whiten black money aims to inject funds into the main stream of the country’s economy.
She said the opportunity has been given this time so that bank loans can be repaid – so that loans do not become defaulted.
She said the government has extended the facility to prevent piling up of black money and create scope for it to go into investment.
Hasina was speaking at a post-budget press conference at Bangabandhu International Conference Center on Friday.
Hasina said if anyone wants to invest black money in IT parks or in the 100 economic zones, they will have to pay specific fees and extra tax.
“If they make the investment following all these, they will not be questioned about the source of the money,” she said.
“Steps are being taken so that no question is asked in future about the source of their income if they make such investment.”
The PM said, “Sometimes people keep undisclosed money and that money is not used. They want to launder that money or use it in other illegal things.”
The government wants to stop illegal use of undisclosed money, she added.
All previous governments provided this opportunity, she said.
The proposed budget for 2019-20 fiscal year placed on Thursday offers scope to invest in the economic zones, IT parks and the housing sector by paying 10 percent tax on the undisclosed money.
