Kid-glove approach to black money!

The Financial Express in the lead item on its front page last Wednesday came up with the figures that only 85 and 90 persons had availed of the opportunity to whiten black money in the fiscal years of 2018-19 and 2017-8 respectively. A total of only Tk 1.96 billion was legalised under a waver in the three years leading to the current one. If compared with the fact that foreign banks have seen an increase in Bangladeshi-held accounts and their amounts, the above-mentioned figures tend to largely invalidate incentives given to draw investments in the economy.      

While the main aim of the government for the fiscal year 2019-20, as before, has been to boost private investment by offering tainted money a stamp of legality, it has always been feared that these measures normally backfire. In fact, every year since 1976, when the first steps towards a privatised economy were taken, the

... read more at: http://thefinancialexpress.com.bd/editorial/kid-glove-approach-to-black-money-1562946218

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