LGRD minister Tajul’s wealth grows by 1.02b in 10 yrs

Local government and rural development minister Tajul Islam
File Photo

Local Government, Rural Development and Cooperatives Minister Tajul Islam, a businessperson by profession, had a little more than Tk 100 million 10 years ago.

Now this has crossed Tk 1.18 billion. He has an investment of Tk 800 million in bonds only.

An analysis of the information of his affidavits submitted to the election commission (EC) for the 10th, 11th and 12th parliamentary elections revealed this.

In the affidavit submitted for the 12th parliamentary elections, Tajul Islam, however, did not mention the wealth and income of his wife or any other person dependent on him.

He mentioned Tk 41.7 million as his income per annum. His income was a little more than Tk 40 million in 2014 and 2018 too.

Tajul Islam, also vice-president of Cumilla Dakshin district Awami League, has been elected as a member of parliament four times from Cumilla-9 (Laksham and Manoharganj) constituency.

He was made the minister of LGRD after the 11th parliamentary election.

Before being appointed as minister in 2018, the amount of his wealth was Tk 474.6 million, which has doubled in a span of four years. In that time, he has repaid a loan of Tk 64.4 million to Southeast Bank too.

As per the information provided in the latest affidavit, Tajul Islam’s annual income from agricultural sources has increased to Tk 335,000 from Tk 240,000 in 2018.

He has earned over Tk 16.99 million as house rent which was a little more than Tk 2.26 million in 2018. The income from house rent was Tk 740,000 in 2014.

His income from shares, sanchay patra, and bank deposits have decreased to Tk 16.3 million from 29.4 million in 2018. The income from these sources in 2014 was Tk 15 million. Tajul’s income from business has also dipped to Tk 1.4 million from 1.6 million in 2018.

As per the affidavit, Tajul Islam has earned nearly Tk 1.56 million as honorarium as an MP. The amount was Tk 2.46 million in 2018.

His income from fishing and poultry sources has increased to Tk 5.1 million from 4.3 million in 2018. He did not have any investment in fishing and poultry in 2014.

Investment in bonds soars

Five years’ ago, the LGRD minister’s investment in bonds was Tk 38.2 million which has soared to Tk 800 million. Such a big leap was found in investments in sanchay patra and fixed deposits. In 2018, such investment was Tk 6.1 million but this has risen to Tk 67.3 million. The amount was Tk 3.3 million in 2014.

The minister, however, has brought down the amount of his investment in share markets to Tk 52.3 million which was Tk 166.6 million in 2018. The amount of cash has also decreased to Tk 852,000 from Tk 13.1 million five years ago.

Tajul Islam in his affidavit stated that he has a deposit of Tk 12.3 million in banks and financial institutions. The amount of this investment in 2018 was Tk 38.9 million.

He owns personal vehicles worth Tk 36.6 million. As per the affidavit he submitted in 2014, he had a car and a jeep, worth Tk 18.9 million, which he mentioned in 2018 as well.

Land properties increase

As per the 2018 affidavit, Tajul Islam had ownership of 7.67 acres of land, worth over Tk 2.03 million during its acquiring period. His latest affidavit announces that he owns agricultural land worth Tk 15.1 million. He, however, did not mention the amount of land.

The monetary value of the minister’s building, house, tea estate, rubber groves and fishing farm is Tk 200.4 million, which was Tk 65.7 million in 2018. The value was Tk 26.7 million in 2014.

He mentioned owning 8.67 acres of non-farming land in 2018 but the affidavit in 2023 did not mention any such land.

Tajul Islam has shown Tk 40.9 million taken as advance house rent as his liability in the latest affidavit.

He said as an MP he pledged to carry out overall development works in his constituency. He kept his promise, he added in the affidavit.