2nd Padma Bridge possible with 2% of black, laundered money

Dhaka, June 29 - EquityBD, a think tank, on Saturday said that another Padma Bridge can be financed if black money and capital flight is reduced by 2 percent in the country.

But instead of taking effective initiatives to stop corruption, the government is giving an opportunity to legitimize black money through 15 percent tax. It encourages corruption and financial irregularities; which will further increase the spread of black money.

The speakers said these things at a press conference held at the Auditorium of Economic Reporters Forum (ERF) in Paltan in the capital on Saturday. The organisation arranged this press conference on stopping corruption and preventing money laundering.

EquityBD was partnered with six other like-minded organizations in organizing the press conference. These are the Bangladesh Farmers Federation, CSRL, NDF, Sundarbans Protection Movement, Trinamool Development Organization, and Water Keepers Bangladesh.

Director of Coast Foundation Md Ahsanul Karim presented the main speech at the press conference. Chief of EquityBD Rezaul Karim Chowdhury moderated the event.

Coordinator of Water Keepers Bangladesh Iqbal Faruque, President of Bangladesh Farmers Federation ASM Badrul Alam, Associate Professor of Sher-e-Bangla Agricultural University Mir Muhammad Ali, Executive Director of NDF Ibnul Syed Rana and Joint Secretary of ERF Mizanur Rahman also spoke at the press conference.

Rezaul Karim Chowdhury said that about Tk2.92 lakh crore of income tax is evaded in Bangladesh every year. This money could double social security programs for the poor or quadruple the per capita health allocation.

It is possible to build a few Padma Bridges, he said.

Urging the government to be strict against corruption, Rezaul said, government officials should introduce rules for filing asset declarations on an annual basis. And if corruption is detected, exemplary punishment must be ensured.

Mir Mohammad Ali, assistant professor of Sher-e-Bangla Agricultural University, said that currently there is talk of reducing subsidies in various fields. But the existing subsidies for public welfare should not be reduced; Rather, the government should provide more subsidies for life-saving services like water, health, and electricity to improve the quality of life of the underprivileged. - UNB