¶¶Òõ¾«Æ·

Finance adviser Salehuddin Ahmed on Sunday said that Bangladesh urgently needed reforms in its economy to tackle significant challenges.

Highlighting the ongoing discussions about reforms across different sectors, including political and electoral processes, he said that among all the essential reforms, economic reforms should take precedence at this moment.

He expressed the views during a seminar organised by the National Board of Revenue to observe International Customs Day, held at Agargaon in the capital Dhaka.

This year’s theme for International Customs Day was ‘Customs Delivering on its Commitment to Efficiency, Security and Prosperity.’

‘Economic reform is a challenging process because of numerous procedural laws and regulations, but the application of the laws properly and transparently is essential for progress,’ Salehuddin said.

He added, ‘We have some advanced systems in place, but we’re unable to utilise them effectively.’

Referring to the Bangladesh National Single Window project, he remarked, ‘The project began its activities in 2017, but we’ve only just started to implement it. So, imagine the situation.’

The adviser urged revenue officials to be more proactive and ensure the revenue collection process efficiently.

‘Forceful revenue collection is not acceptable, nor should there be any unethical practices, such as taking money under the table,’ he stated.

Emphasising transparency, he said, ‘Businesses are obligated to pay taxes to the government, but they should let operate in a transparent environment.’

In his speech, Salehuddin also appealed to businesspeople to cooperate in increasing the country’s revenue collection.

He pointed out that the government was focusing on ensuring rationality in both revenue collection and public spending.

Addressing public criticism for the rising commodity prices, he said, ‘When rice prices go up, people behave as if the price reached Tk 1,000. Some prices may rise, but others might fall.’

He also mentioned about the wider criticisms about the government, and compared it to supporting a child’s growth, saying, ‘If I score 70 out of 100, people should encourage me to improve further. But instead of encouraging us, there’s a tendency to criticise us for not achieving a perfect 100.’

He urged people to recognise the positive achievements of the government.

‘Criticise us for our shortcomings, that’s understandable, but also acknowledge the good work we’ve done,’ he added.

At the same event, NBR chairman Abdur Rahman Khan discussed businesses’ unwillingness to maintain proper transaction records to avoid paying full taxes.

‘Businesses are hesitant to embrace automation because it requires them to follow compliance rules and maintain transaction records, which means they will have to pay a large amount of value-added tax and other taxes,’ he explained.

The seminar was attended by Federation of Bangladesh Chambers of Commerce and Industry administrator Md Hafizur Rahman, finance secretary Md Khairuzzaman Mozumder, and other high-ranking government officials.