Salehuddin asks secretaries to fully utilise budget allocations for people’s welfare

Finance Adviser Dr Salehuddin Ahmed today (24 March) asked secretaries of the several ministries to fully utilise budget allocations for the welfare of country's people.

"During utilisation of the budget, everyone will have to think about the welfare of the country's people. People concerned will have to ensure transparency and integrity in implementation of budget allocations," he said. 

The adviser said this after a pre-budget meeting for the fiscal year 2025-26 with senior secretaries and secretaries of the ministries that got the highest allocations in the budget at the Multipurpose Hall of the Finance Ministry at Bangladesh Secretariat.

The finance adviser already completed pre-budget meetings with the country's eminent economists, editors of the electronic and print media and trade bodies. 

During the meetings, Salehuddin hinted that the corporate tax rates would be revisited in the next budget since those are high in the country.

"After taking charge, I cancelled many SROs on tax exemptions enjoyed by many sectors and individuals as such kind of exemptions will be reduced further in the next budget to streamline the tax expenditures. The indirect tax equally impacts both the rich and poor. So, emphasis will be given on realizing more direct tax than indirect tax," he said.

He said that the next national budget for FY26 would be rationale while pragmatic and local need-based projects would be given priority in the next Annual Development Programme (ADP).

"Pragmatic and local need-based projects will be given priority in the ADP for the next fiscal year while the next budget will be more or less rationale," he added.

He also mentioned that like in the past, no 'monument' type project would be undertaken in the fresh ADP involving billions of dollars as such projects have failed to bring any good results for the nation.