Finance Minister AMA Muhith on Sunday said the government will try to introduce a pension system in the non-government organised sector within the five-year tenure of the present government.
“We’re trying to introduce some kind of pension system this time in the non-government organised sector, but it’s yet to happen. Some are implementing it, but our target will be to introduce such a pension system in the non-government organised sector in our five-year period,” he said.
Muhith was addressing a pre-budget meeting with the representatives from different NGOs at his ministry’s conference room.
Bangladesh Bank Governor Dr Atiur Rahman, Finance Division Secretary Fazle Kabir, Bank and Financial Institution Division Secretary Dr M Aslam Alam, Economic Relations Division (ERD) Secretary Mohammad Mejbahuddin, were, among others, present at the meeting.
While giving some indications about the budget for the next fiscal year, the Finance Minister said the around Tk 2,50,000 lakh crore budget would eye to contain the deficit within five per cent of the GDP although the deficit has never exceeded 4.6 per cent of GDP.
He said the actual figure would be worked out later based on the discussions with various ministries and stakeholders.
Apart from the already approved Revised ADP of Tk 60,000 crore for the current fiscal, Muhith hinted that the revised budget would be around Tk 11,000 crore less than the original outlay of Tk 2,22,491 crore in the current fiscal. He also hinted that the projection for inflation in FY 15 would be 6 per cent, down from the current fiscal’s 7 per cent.
Over the foreign aid situation, he said Bangladesh used to get foreign aid around 3 per cent of GDP in terms of commitment. But, in terms of use, the disbursement remained at the same at 1.7 per cent or 1.8 per cent of GDP. “The pipeline is big, but we hope the disbursement will increase.”
The Finance Minister indicated that Human Resource development (HRD) would continue to get the highest priority but, in terms of allocation, the infrastructure sector will get the maximum.
He said the allocation in the power and energy sector because of the already contracted works would remain pretty high, but will not be the highest that it was used at one time.
About the agriculture sector, he said there would be some changes in the strategy. On the district budget, the Finance Minister said the districts will have budgets of their own at the end of the term of the present government.
“They (districts) will be provided with a kind of allocation from the central budget which they will prepare and spend, and this is our big target,” he added.
Noting that some 47 countries in the world are smaller in size from Bangladesh while there are also about 60 countries which are smaller to Bangladesh in terms of the population size, Muhith said the districts of Bangladesh could be treated as states and that would improve the implementation of projects largely by that kind of devolution of power.
About introducing pollution tax, he said, “We’ve been thinking about it, but there has been no progress to this end, although there are incidents of fine, but the pollution tax is yet to be designed.”
Regarding the relocation of tanneries, Muhith said the CETP is being built at Savar. Even then the tanneries are unlikely to be shifted this December, but by June next year.
About the reform in the planning process, he said the reform at the planning process would be completed very soon as there is a need for tremendous improvement in the planning process.
“The planning process of today is unacceptable where there is a need for big scale change.”
In this connection, he said the power of ministries in terms of procurement and contracting should be substantially increased and this will be done within this calendar year as discussions to this end are being held with the development partners like the World Bank and the ADB.
“The project approval power of our ministers is zero except the Planning Minister and this was not the situation in the past. This is not at all acceptable and I’m sure we’re having changes to this end,” he added.
Responding to a proposal from an NGO representative, Muhith said he would be able to give special attention to controlling smoking and tobacco this time.
Talking about the integrated road transport plan, he said complaints are there every year to this end although the government is speaking about this system for the last four years.
Muhith said the Awami League government has given due attention to the railway sector as a mega plan is being devised to make overall development of the country’s railway services.
About river dredging, he said the authorities concerned should be selective about the channels that they should dredge.
“We won’t be able to reclaim our lost river routes; we’ll rather demarcate some routes and try to maintain navigability of those round the year. If investment is made there, that would be good for the country,” he added.
Executive Director of Campaign for Popular Education Rasheda K Chowdhury, Action Aid country director Farah Kabir, Ayesha Khanam of Mohila Porishad, founder of Gonoshasthaya Kendra Dr Zafrullah Chowdhury, general secretary of Bangladesh Posibesh Andolon (BAPA) Abdul Matin, Prof Nazrul Islam of Nagor Gobeshona Kendra and senior director of Brac ASF Saleh, among others, took part in the pre-budget discussion. – UNB
