The Transparency International, Bangladesh has urged the government not to keep any provision in the upcoming budget to whiten black money.
"It'll only promote corruption in the capital market if the government keeps the provision under pressure by vested quarters," TIB executive director Iftekharuzzaman said
in a press statement on Thursday.
It said TIB was worried at the media reports that the government was going to allow whitening black money in the upcoming budget.
Iftekharuzzaman said corruption would engulf the entire investment sector if such a decision was taken, creating a barrier to economic development and good governance.
"The corrupt and powerful will further swindle the affected people and drive them out from the capital market. And this will ruin the prospect of a free and fair competition," the statement said.
He thought a decision like this was contradictory to the government's election manifesto and pointless when it came to revenue collection. "This is morally unacceptable and discriminatory."
"This will only encourage people to resort to illegal earning and undermine honesty and transparency," he said.
The TIB urged the government to retreat from such a 'suicidal' step.
"It'll only promote corruption in the capital market if the government keeps the provision under pressure by vested quarters," TIB executive director Iftekharuzzaman said
in a press statement on Thursday.
It said TIB was worried at the media reports that the government was going to allow whitening black money in the upcoming budget.
Iftekharuzzaman said corruption would engulf the entire investment sector if such a decision was taken, creating a barrier to economic development and good governance.
"The corrupt and powerful will further swindle the affected people and drive them out from the capital market. And this will ruin the prospect of a free and fair competition," the statement said.
He thought a decision like this was contradictory to the government's election manifesto and pointless when it came to revenue collection. "This is morally unacceptable and discriminatory."
"This will only encourage people to resort to illegal earning and undermine honesty and transparency," he said.
The TIB urged the government to retreat from such a 'suicidal' step.