The country’s business leaders have alleged that they were facing extortion without help from the local administration. They further alleged that it became difficult for them to run their business due to the heavy burden value-added tax and income tax, additional VAT etc. The revenue officials claim government pressure for increased revenue makes them helpless. So corruption negotiation has become a regular feature. It is also true that some officials understand the painfulness of the situation. They must be applied to save their jobs. To the businessmen, the magnitude of extortion and corruption is unbearable.
The business leaders from across the country made these allegations at a views exchange meeting of the Council of Chamber Presidents at the FBCCI auditorium in Dhaka on Saturday.
To put an end to the harassment businesses face at the hands of VAT and tax officials, the top business leaders sought government’s strong steps in this direction. They also urged the government to extend the loan moratorium period to help them recover from the corona pandemic. Some 40 to 50 per cent of businessmen will turn defaulters if the loan repayment period is not extended up to at least June 2024. Most of them are either running operations at losses or in the stage of recovery. Harassment of businessmen at the hands of VAT and tax officials had not stopped even 50 years after the country’s independence, although the private sector contributes more than 82 per cent to the national economy.
Opposing the proposal for hiking the price of gas, chamber and association leaders said that the industry could not effort any further hike in prices of utilities. Rather, they demanded immediate and equal disbursement of funds for small business units from the government-sponsored stimulus fund so that they can survive. Mentionable, only 20 per cent out of Tk 22,000 crore stimulus unveiled for SMEs has been disbursed by banks, whereas the allocation for large units has already been disbursed.
Billions of stolen money have been kept in foreign countries in an organised way. The sad thing is such looted money will not easy to enjoy luxurious lives abroad. These countries have started going after the thieves.
