Monday, February 24, 2020 | ePaper

Govt faces hard time for needless expenditures coupled with corruption

  • Print
THE Finance Ministry has asked all ministries and divisions not to seek additional fund in the current fiscal year in a signal that the government is tightening its belt amid a revenue shortfall, as per local media reports. The ministry furnished the instruction with regard to the operating and development budgets in a circular issued in December in its process of revising the Tk 5,23,190 crore budget for the 2019-20 fiscal year. The main reason for the decrease in revenue collection is of course the dismal economic performance of the country during the period. The government is all too keen to keep on slaying the goose which lays the golden eggs. Thus every sector which shows strong economic performance has to pay increasing amounts in taxes. Another reason for a shortfall in growth collection is the inability of the government to help our largest export sector—the RMG sector, to develop world class competencies. One easy way to do this is to improve our power and communications infrastructure so that the sector can improve its operating economies.
It should be a very easy matter to set up new plants which provide electricity with almost zero blackouts in a year — but this hasn't happened despite the fact that the costs of power have doubled. Similarly it's no rockets science to figure out ways to improve Chattogram port, Dhaka airport, and the highways connecting Dhaka to major cities. Besides the poor revenue growth, the government's borrowing from the banks significantly increased reaching Tk 48,015.81 crore during the period from July 1 to December 31, 2019, according to the Bangladesh Bank's 'Fortnightly Trends of Major Economic Indicators: Updates on 31 December 2019'. Instead of finding ways to augment revenue collection the government should find ways of ensuring that the money spent isn't wasted. There is no use of development projects which collapse after a year or need frequent repairs.
This is putting public funds into a black hole — it continues to guzzle funds to no end. The time has come when every penny spent must be properly accounted for — there's no reason why our costs of building anything should be 2-3 times the world average.

More News For this Category

Criminalised politics making our young ones criminals and we are helpless

MEMBERS of Rapid Action Battalion on Saturday arrested two activists of Bangladesh Chhatra League's Dhaka University unit on charge of snatching money from the driver of a sand-laden truck near

We don't need experts to tell us banking sector is ruined

 AS Bangladesh Bank has miserably failed to function properly, the country's banking sector is heading towards a total collapse and is being held hostage by a few individuals and entities.

Liberty Of Mother Language Is Liberty Of Nation

Dr. Forqan Uddin Ahmed :Languages are the most powerful instruments of preserving and developing our tangible and intangible heritage. All moves to promote the dissemination of mother tongues will serve

ARSA A Threat To BD Or Burma?

Saleem Samad :The terror outfit Arakan Rohingya Salvation Army (ARSA) has roots in Pakistan and Saudi Arabia, and there is not much evidence to prove that ARSA has any ties

Rapid loss of forest lands inviting danger

THE government's lack of initiative to conserve existing forest land is making wildlife vulnerable. Influential persons operating under the protection of the government are felling trees and destroying forest to

Govt incapable of deciding how to deal with Rohingya crises

NEWSPAPERS reported that the government is shifting its previous stance on sheltering one lakh Rohingyas to remote Bhashan Char due to constant objections from the international community, especially the aid

Gender Gap Bangladesh Makes Progress In Reducing It

Dr Helal Uddin Ahmed :According to the Global Gender Gap Report 2020 published by the World Economic Forum (WEF), Bangladesh's ranking in global gender gap index has moved up to

Democratic Socialism Why Not We Make It Relatable?

Dr. Yossef Ben-Meir :The phrase "Democratic Socialism" continues to find its way into current national and political discourse of the United States. Vermont Senator and Presidential candidate Bernie Sanders embraces

Keep three-wheelers off the highways to avert accidents

ACCORDING to a recent study, commuters' depending more on three-wheelers and motorcycles has contributed to increasing the number of road accidents in recent time. Due to this reason, the number

21 February should be celebration of free speech

THE historic Amtala, where Language Movement activists gathered on February 21, 1952 to defy a curfew and protest the then Pakistan government's refusal to recognise Bangla as one of the