TIB says whitening black money unconstitutional, immoral
Providing the opportunity to whiten black money in national budget is unconstitutional, immoral and discriminatory, said Executive Director of Transparency International Bangladesh (TIB) Iftekharuzzaman yesterday.
“The finance minister and the finance secretary in their (Sunday's) speeches spontaneously identified remittance and profit motive as the reasons behind the growing corruption…this is irrational,” he said in a statement. The remark of Finance Secretary Mohammad Tareque that black money has no link with corruption is also irrational and irresponsible, he underlined.
Tareque on Sunday said black money has no link with corruption. “Black money is the money which has not been disclosed,” he said.
Iftekharuzzaman said as he is holding a responsible post, Tareque should clarify his statement and he has to disclose who are getting the advantage of whitening black money and how much black money is whitened by expatriates.
The TIB executive director said the Article 20 (2) of the country's constitution strongly stands against the illegal income. The government in its election manifesto in 2008 too stood against the illegal income and black money.
Amid an immense pressure by a vested quarter, the government gave the opportunity to whiten black money in the capital market in the name of stimulus package in the last fiscal, Iftekharuzzaman said adding that such step promotes corruption and creates scope for the corrupts to control the capital market.
Quoting Finance Minister AMA Muhith as saying that black money cannot be controlled with political consideration, the anti-graft body official said, “This is also an example of political defeat against corruption.”
Muhith on Sunday said he was personally against giving any chance to whiten black money. “But democracy is … the art of compromise,” he told a pre-budget meeting with the Economic Reporters Forum (ERF) at the conference room of his ministry.
The minister said it was not easy to put plug on the source of black money. “It'll continue for many days as the remittance is the main source of black money. When people remit money from abroad through the banking channel, we allow those without questioning about its source,” he said.
Iftekharuzzaman voiced deep concern over the government's stand of whitening black money in the budget for fiscal 2012-12 and urged the government not to give such scope any more as it would go against its election pledge.
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