The Trade Adviser stated, “Inequality in society has led to protests, which can be addressed through policy changes.” Regarding taxes, he said, “Both direct and indirect taxes are important, but even more important is their implementation.” He also criticized unethical profits made by banks in December despite the ongoing economic downturn, emphasizing the need for investigation.
The head of the White Paper Preparation Committee and Honorary Fellow of the Center for Policy Dialogue (CPD), Dr. Debapriya Bhattacharya, opposed the decision to raise VAT at the same meeting. “We were surprised to see how carelessly VAT was raised,” he said. One must progressively target direct taxpayers in order to collect taxes. There are no plans for direct tax collection that we can see. It is troubling that there is no clear plan in place for dealing with non-taxpayers. In the upcoming summer, we worry that the energy situation may get more problematic.
He pointed out that procurement attempts had failed despite record-breaking Aman rice output. “Farmers are not getting fair prices for their products, and corruption in procurement campaigns is still present. The economist went on to say, “The social safety net is in chaos.”
What economic legacy will this government leave behind, he wondered? “We have not seen a blueprint for the administrative structure or reforms needed to build an inclusive, sustainable, and equitable economy,” Debapriya Bhattacharya stated.
Source: Daily Ittefaq
