https://www.newagebd.net/article/203247/no-direction-for-governance-curbing-corruption-money-laundering-tib

Transparency International Bangladesh, in a statement on Friday, said that the proposed budget for 2023-24 had no specific directions for good governance, curbing corruption and money laundering.

‘The major reasons for the current economic crisis, increasing income inequality and depleting foreign reserve are corruption and money laundering, which were not addressed in the budget, said the statement.

The organisation said that corruption and money laundering were two significant hindrances to the country’s development, and it raised concerns about how the government would implement the big budget resolving the issues.

TIB also said that economically marginalised people living outside the power structure would hardly rip any benefit from this budget.

TIB executive director Iftekharuzzaman said that at least $ 12 billion is laundered from Bangladesh each year.

‘The budget avoided the corruption and money laundering issues, but if the government could manage corruption at medium level, the national gross domestic product could be increased at least by 2 to 3 per cent,’ he said.

The statement also added that a budget without any directive to address the issues would promote corruption and money laundering.

Economically marginalised people are under severe pressure, but the budget did little to absorb more people inside the social safety net.

‘The government proposed Tk 84,000 crore for incentives and subsidies, of which Tk 60,000 crore is for civil administration. The amount for a social safety net is only Tk 5,000 crore,’ the statement said.

TIB expected that the government would do justice for the mentioned sectors and add directions in the budget to ensure transparent and accountable good governance and measures to address corruption and money laundering.