UNB, Dhaka :
Urging the government to impose high excise tax on tobacco products in the coming fiscal 2015-16, eminent economist Prof Abul Barakat has said Bangladesh counts a socioeconomic loss of at least Tk 16,600 crore each year due to tobacco use.
“About 76,100 people are being killed each year in the country due to the use of tobacco products. The measurable socioeconomic loss of tobacco use is minimum Tk 16,632 crore a year as per 2014-15 fiscal,” he told a press conference in the capital on Thursday.
Human Development Research Centre (HDRC), Progga, Anti Tobacco Media Alliance (ATMA) and Campaign for Tobacco-Free Kids (CTFK) jointly organised the pre-budget press conference at Dhaka Reporters Unity (DRU).
Reading out a written statement, Prof Barakat said the relation between price and consumption of tobacco products is quite opposite. If the price of tobacco product declines, its consumption goes up and if the price of tobacco product increases, its consumption reduces.
“The most effective tactic in reducing consumption of tobacco is the imposition of high tax on tobacco products to increase its price,” he added.
The economist said imposition of high tax on tobacco products and an effective
tax management not only help address the tobacco-induced problems but also reduce expenditures of health sector. “The government also can collect more revenue by imposing high tax on tobacco products.”
He suggested imposing specific excise tax on cigarettes canceling different price labs of cigarettes as there are now four price labs of cigarettes in the country.
Urging the government to impose high excise tax on tobacco products in the coming fiscal 2015-16, eminent economist Prof Abul Barakat has said Bangladesh counts a socioeconomic loss of at least Tk 16,600 crore each year due to tobacco use.
“About 76,100 people are being killed each year in the country due to the use of tobacco products. The measurable socioeconomic loss of tobacco use is minimum Tk 16,632 crore a year as per 2014-15 fiscal,” he told a press conference in the capital on Thursday.
Human Development Research Centre (HDRC), Progga, Anti Tobacco Media Alliance (ATMA) and Campaign for Tobacco-Free Kids (CTFK) jointly organised the pre-budget press conference at Dhaka Reporters Unity (DRU).
Reading out a written statement, Prof Barakat said the relation between price and consumption of tobacco products is quite opposite. If the price of tobacco product declines, its consumption goes up and if the price of tobacco product increases, its consumption reduces.
“The most effective tactic in reducing consumption of tobacco is the imposition of high tax on tobacco products to increase its price,” he added.
The economist said imposition of high tax on tobacco products and an effective
tax management not only help address the tobacco-induced problems but also reduce expenditures of health sector. “The government also can collect more revenue by imposing high tax on tobacco products.”
He suggested imposing specific excise tax on cigarettes canceling different price labs of cigarettes as there are now four price labs of cigarettes in the country.
