Dhaka, May 15 – There will be an announcement to introduce school bus and corporate tax will be reduced in the upcoming budget, finance minister AMA Muhith said Wednesday. Besides, the government has planned to nationalize the education up to secondary level and some schools will be under MPO (monthly payment order) in the next budget.
Special emphasis will be given in human resources, energy, communications, health, education and sanitation sectors in a 2018-19 national budget. Besides, prices of fuel oil to be rationalized in the next budget too.
The size of the budget for 2018-19 fiscal year will be Tk 4.60 lakh.
The finance minister said these while talking to reporters for economic forum during a pre-budget discussion held at the secretariat yesterday.
Among others, state minister for finance and planning MA Mannan, finance secretary Muslim Chowdhury and national revenue board chairman Mosharraf Hossain Bhuiyan were present during the discussion.
“We will nationalize the education up to secondary level. The growth rate of secondary schools is good in terms of numbers. Some schools will be under MPO in the next budget,” AMA Muhith said.
MPO not only will be for the teachers, he said, adding that MPO would be for infrastructures development too. The finance ministry will allocate the budget separately in this regard, he added.
The primary education has already nationalized and the quality of education at primary is better despite the shortage of head teachers, Muhith said.
The government is now working to ensure quality education and it would introduce school bus in the next budget, he added.
He said the corporate tax is high at this moment. “We are thinking to reduce the rate of corporate tax in the up coming budget,” the finance minister added.
He further said tax-free income areas will be increased too in the next budget.
The minister hinted that the tax net will be increased in the up coming budget and 50-60 per cent people will give tax by 2025.
There will be scope to whiten the black money in the next budget, Muhith said.
Regarding money laundering, the finance minister said, “the way the syphoning of money is discussed—actually is not real and most of it a rumour.”
The minister blamed the owners of Bangladesh Steel Re-rolling Mills (BSRM) for hiking the price of rods.
The country’s sugar industry does not totally depend on sugarcane, Muhith said, adding, “this sector is alive with the support of tariff. But we can get sugar at a cheaper rate through import. So, I think, this sugar industry should not run in the country.”
He said the local government body will be stronger if the Awami League again assume in power. – Staff Reporter
