Commerce Minister Khandaker Abdul Muktadir on Saturday said the government has no plan to increase taxes on the private sector, reports BSS.
He made the remarks while responding to questions from journalists after a view-exchange meeting with local administration officials at the Sylhet Circuit House this afternoon.
Replying to a query regarding the Finance Minister's recent comments, Muktadir said the statement had been misrepresented in the media. He explained that Bangladesh's tax-to-GDP ratio remains ignificantly lower than that of neighbouring countries.
"Because the country's tax-to-GDP ratio is low, a large portion of revenue collection is spent on meeting the government's regular expenditures, making it difficult to allocate adequate funds for development activities," he said.
"The Finance Minister referred to increasing the tax-to-GDP ratio, not raising taxes on the private sector," the minister added.
Expatriates' Welfare and Overseas Employment and Labour and Employment Minister Ariful Haque Choudhury and Water Resources Minister Shahiduddin Chowdhury Anne were present at the meeting.
Speaking to reporters after the meeting, the Commerce Minister said the market situation during the Holy month of Ramadan remains stable. He noted that prices of a few items, including lemons, had increased irrationally during the first couple of days of Ramadan but have since returned to normal levels.
As the minister in charge of the Ministries of Commerce, Textiles and Jute, and Industries, Muktadir also said that, as part of advance preparations to address post-LDC graduation challenges, a letter has been sent to the European Union (EU) seeking a Free Trade Agreement (FTA).
He added that initiatives would be taken in phases to pursue similar agreements with Australia, Canada and the United Kingdom (UK).The Commerce Minister further said that all outstanding wages and salaries of industrial workers would be ensured before the upcoming Holy Eid-ul-Fitr.
After the meeting, the Commerce, Labour and Employment, and Water Resources Ministers visited erosion-affected areas along the Surma River and Chenger khal River.
Bd-Pratidin English/ AM
