Economic reforms must be the priority: Finance adviser

Finance Adviser Salehuddin Ahmed has stressed the urgency of economic reforms, placing them above political or other types of reforms in terms of priority.

"We are discussing various types of reforms, including political ones. However, right now, economic reform is what we need the most," he said during a seminar organised by the National Board of Revenue (NBR) to mark International Customs Day, held at the Revenue Building in Agargaon, Dhaka on Sunday (26 January 2025).

The seminar was also attended by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Administrator Md Hafizur Rahman, NBR Chairman Abdur Rahman Khan, and Finance Secretary Md Khairuzzaman Mozumder.

During his speech, Salehuddin addressed the slow pace of automation in revenue management. Referring to the Bangladesh National Single Window project, he said, "Its activities began in 2017, but it took six years to complete. So, you can imagine the situation."

"We are now starting to implement it," he added.

He urged revenue officials to ensure efficient revenue collection. "Forceful collection of revenue is not acceptable, nor should there be any inappropriate means, such as collecting unjustified money under the table," he said.

"Businesses will pay taxes to the government, and they should be able to conduct business transparently," he added.

In his speech, NBR Chairman Abdur Rahman Khan pointed out the reluctance of businesses to maintain proper transaction records in order to avoid paying the full amount of taxes.

"Businesses are hesitant to move forward with automation because they must follow compliance rules and keep transaction records, as they have to pay a large amount of value-added tax (VAT) and other taxes," he said.

Addressing import-related challenges, Abdur Rahman said, "There is widespread discussion about significant mis-declaration at the import stage. This causes problems, and we want to eliminate that situation."

He also acknowledged the behavioural problems among some revenue officials and promised strict action in case of any misconduct.

Addressing public criticism over rising commodity prices, Salehuddin said, "When rice prices increase, people talk as if they've gone up to Tk1,000. Some things may decrease in price, while others may increase."

He also responded to broader criticisms of the government, comparing it to a child that needs encouragement for its achievements. "If I score 70 out of 100, people should say, 'You did well, but you need to do even better.' But instead of that, there's a tendency to slap us for not getting a perfect 100," he said.

Acknowledging the complexity of governance, he added, "We don't always reveal the whole story. Criticise us for bad work, that's fine, but also encourage us for the good work we do."