A bill placed on January 14 to bring the surplus money of 61 state and autonomous organisations to the national exchequer was passed amid huge opposition from Jatiya Party and BNP MPs in parliament on Wednesday.
To implement development projects the surplus funds will be deposited to the state coffers after keeping aside the operational cost, an additional 25 per cent as emergency funds, allocations for general provident funds and pensions.
As the government has no accountability, so where the money collected from corporations and statutory bodies goes will not be known.
As the government has no accountability, so where the money collected from corporations and statutory bodies goes will not be known.
But what’s true is that the activities for improving and expansion of these 61 organisations by their own funds would be hampered. Besides, the banks will be emptier for investments in the country for jobs needed by the huge number of unemployed youths.
As per the new law the organisations will have to deposit their funds to the state coffers within three months after a fiscal year ends. If an organisation does not provide correct information about the funds, legal actions will be taken against it.
No money is government’s money for spending to facilitate corruption and maintaining opulent life style of the men in power. The money in the statutory bodies is public money and not for spending for the benefit of the incompetent government that failed to run the economy smoothly.
But the government, even after taking the highest amount of loans from domestic banks, is still facing cash shortages to run the government and pay the government employees. It is known to all that the country’s economy is damaged beyond repair.
The newspapers are financially strapped because government bodies are facing hardship for making the payments. Many newspapers are unable to pay salaries in time for the delays in releasing the funds for advertisements published.
There is also gross mismanagement in the distribution of advertisement. The government favoured nameless publications get more advertisements than well-established publications.
We do not have elected and effective political opposition in the parliament or outside. They are ineffective and helpless against public money being spent against public interest. Public services in education and health sectors are already starving most for scarcity of funds.
The government is desperate to save itself with money extorting from everywhere. The bureaucracy is having its anti-people ways for the government’s extravagant expenses because we do not have political leadership.
What is most disappointing is that sections of own people are bringing devastation upon the general public. The economic injustices will have their ferocious consequences.
In this situation, economic chaos is unavoidable. Big projects will have no funds to complete. No false hope will work.
The autonomous bodies keep their money in the banks and banks are largely dependent on their money. We believe government’s such move will wean the banks and dry investments. But who cares?
The autonomous bodies keep their money in the banks and banks are largely dependent on their money. We believe government’s such move will wean the banks and dry investments. But who cares?
