Demand for scope to whiten money through share market investments

Three Awami League lawmakers have spoken in favour of providing an opportunity to whiten black money in the proposed budget. One of them sought the scope to whiten black money through investing it in the share market.

The general discussion on the proposed national budget for the 2024-25 fiscal started in parliament Tuesday. The lawmakers will be discussing the proposed budget through this entire parliamentary session.

Finance minister Abul Hassan Mahmood Ali unveiled the proposed budget in parliament on 6 June.

Taking part in the budget discussion, AL lawmaker from Jamalpur-1 constituency Nur Mohammad made contradictory statements.

He said although the government is providing special facilities to the people evading taxes, it cannot discriminate against the regular and honest tax payers. The opportunity to whiten black money by paying a 15 per cent tax is discriminatory and unethical.

Nur Mohammad further said the share market is passing through the worst phase in its history over the last two months. He proposed opening the opportunity to whiten black money through investing in the share market if possible.

Addressing the finance minister he said, “Please give the opportunity to whiten black money through investing in the share market.”

He also urged reconsidering the proposal to impose tariffs on cars imported for the MPs. He said, “We have become MPs for the first time. This should be applicable only for veterans here. This proposal should be reconsidered for us.”

Awami League MP Abu Zahir said many are criticising the government for giving the opportunity to whiten black money. However, during BNP’s term, the then finance minister M Saifur Rahman whitened black money. Even then then Prime Minister Khaleda Zia whitened her black money.

He further said people used to protest after the budget announcement during the regimes of HM Ershad and the BNP. But gone are the days. Nowadays people express happiness after the budget announcement now, he claimed.

AL lawmaker Nilufer Anzum said the opportunity to whiten black money is nothing new. It has been proposed to bring back money in the banking channels, she said.

She also commended the decision to impose tariffs on cars imported for the MPs and termed it a major step.

Another AL MP Kazi Keramat Ali urged the government to focus on defaulted loans and stop money laundering.