Central Bank Governor Ahsan H. Mansur said that the country will see major progress in reducing inflation by June. He said, “Effective measures are being implemented to control inflation, although there is some criticism. Even in developed countries, it takes about 10 to 12 months to see the benefits of such measures. I hope there will be major progress by June.

He said these things as the chief guest at a roundtable discussion titled ‘Challenges and Opportunities of Digital Transactions: Prospects for VAT Increase’. National Board of Revenue (NBR) Chairman Md. Abdur Rahman Khan was present as a special guest at the meeting.

The governor mentioned that in the existing situation, the revenue will not increase much, but the sector needs reforms and this will take three to four years. He further said that the current government can start the reform work, but will not be able to complete it.

He also raised questions about additional charges on bank deposits and suggested increasing the popularity of mobile financial services (MFS) and internet banking through affordable prices of smartphones. He believes that increasing the use of MFS or internet banking will increase revenue.

The governor also suggested introducing an online tax and duty payment system, which would help reduce corruption.