Country's macroeconomic condition is good: Finance Adviser

Finance Adviser Dr Salehuddin Ahmed today (17 February) said the macroeconomic condition of the country is more or less good thanks to a positive current account balance, financial account and healthy inward remittance flow.

"Our macroeconomic condition is more or less good. The current account balance is positive...the financial account is positive and the inward remittance flow is good," he said.

The finance adviser was briefing reporters after the working session of his ministry on the 2nd day of the ongoing DC Conference at the Osmani Memorial Auditorium here. Secretaries concerned were present.

About the proposals by the Deputy Commissioners, Dr Salehuddin said the officials have proposed digital disbursement of the allowance while moving from one upazila to another upazila in the CHT region, giving more attention to the mentally and physically challenged people, further simplifying access to finance to the SMEs, addressing transport problem in the remote areas and other related costs.

He said they also proposed further widening the tax net as many businessmen in the rural areas make hefty profits but do not pay taxes and VAT, streamlining primary school management in the char areas and remote areas.

"We've assured them of considering their proposals as those are interactive and definitely there is further scope for improvement," he added.

The adviser said that he had suggested the DCs raise their specific problems through the Cabinet Division or Cabinet Secretary, Divisional Commissioners while the government would try to resolve those.

He said another important thing is that doctors and other professionals often make cash transactions while those could not be brought into accounts. In such case, he said the officials suggested making the transactions through digital method and bank cards to have records.

"We want that every transaction remain faceless so that a taxpayer need not to see the faces of tax and customs officials and we, from the Ministry of Finance, are working on it. Every transaction abroad is faceless," he said.

Responding to a question, he said that the government had negotiations with the IMF for disbursement of its tranches under the $4.7 billion package.

"We've told them (IMF) that we've certain works and we're not thriving for it...we're seeking such fund for our own needs...we told them we'll do it on our own way," he said adding that the government is not desperate for availing loans from the IMF and World Bank.

The finance adviser said that they would wait for some time while they are expecting the two tranches of IMF loan in combine in this June which would help balance payment support.

Responding to the suggestion for widening further the tax net, the adviser said the NBR could launch special drives in the respective areas while the DCs could help identify the big taxpayers even in the thana headquarters.

"Unless we further widen the tax net, we won't be able to do...we're trying to widen the tax net further through not increasing the rate and thus keeping it at a tolerable level in the upcoming budget," he added.

The finance adviser said if the field-level officials become public servants in true sense and also become efficient, then the people get the real government services.