Expatriates not to be charged for sending home remittances

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DHAKA : Finance Minister AMA Muhith today said Bangladeshi expatriates will not have to bear any charge for sending home remittances as the government will take necessary measures in this regard.

“We’ll not keep any charge on sending home remittances by expatriates for increasing the inflow of remittances and the Prime Minister has already give us instructions in this regard,” the finance minister said while speaking at a pre-budget discussion with the Economic Reporters’ Forum at his ministry office here.

Bangladesh Bank governor Fazle Kabir, finance secretary Hedayetullah Al Mamoon, National Board of Revenue (NBR) chairman Md Nojibur Rahman and bank and financial institutions division secretary Yunusur Rahman were, among others, present at the meeting.

The finance minister said earnings of Bangladeshis working in the Middle East have been declined due to various reasons, including war. Besides, the expatriates are saving a part of their earnings where they are working, he added.

Responding to a question about land price and money laundering, he said there will be no fixed price system in buying and selling of land. The main source of ‘black money’ is the undisclosed money of the sales and purchase of land and that money is being smuggled out of the country, he added.

“There will be no fixed land price system, we will withdraw it from the upcoming budget to check the money laundering,” he said, adding that people concerned are making huge ‘black money’ by keeping the lion part of land price secret during registration.

About the upcoming budget, the finance minister said the size of the national budget for fiscal year 2017-18 could be Tk 4.06 lakh or Tk 4.08 lakh crore.

About the stock markets, the finance minister said time has come to bring the multinational companies to the market. There were no rules-regulations and laws for the share market, he said adding that but the capital marker has bounced back and it is no more a curb market.

“Share market is now stable to a large extent and we now can tell the multinational companies to offload their shares in the market. We can also talk to the authorities concerned of non-listed state-owned companies to come to the market,” he added.

ERF president Saif Islam Dilal, general secretary Ziaur Rahman, news editor of BSS Quamrul Islam Chowdhury, Manwar Hossain and Salauddin Lovlu, among others, spoke at the meeting.

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