Minister of State for Finance emphasizes automation for revenue growth

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Minister of State for Finance emphasizes automation for revenue growth

BMirror Report:

Speaking at the presentation of ‘Bangladesh’s Domestic Resource Mobilization: Imperatives and a Roadmap,’ State Minister for Finance and Bangladesh Awami League Finance and Planning Secretary, Wasika Ayesha Khan MP, underscored the necessity of automation for revenue augmentation. Khan emphasized that automation presents the sole viable solution to boost revenue streams, particularly from the expansive informal sector of Bangladesh.

The event, organized by the Policy Research Institute of Bangladesh (PRI) on Tuesday, saw the presence of notable figures including Honorable Prime Minister’s Economic Adviser, Chairman of Revenue Board Abu Hena Rahmatul Munim, and President of FBCCI Mahbubul Alam.

In her address, Minister Wasika Ayesha Khan stressed the pivotal role of the private sector in facilitating tax collection from the informal sector. She highlighted the significance of transitioning towards online tax submission platforms and encouraged collaboration between the public and private sectors in this endeavor.

Furthermore, Khan advocated for a comprehensive discussion on the capital market, emphasizing the importance of attracting reputable companies to alleviate pressure on the money market. She lauded the government’s efforts in building a Smart Bangladesh and commended the successful implementation of Digital Bangladesh under the leadership of Prime Minister Sheikh Hasina.

Underlining the government’s commitment to efficient budget management, Khan noted the expedited implementation of budgets, attributing it to the Integrated Budget and Accounting System (IBAS). She assured attendees that the Ministry of Finance would seriously consider the suggestions put forth during the discussion program.

The event also featured insights from prominent figures including Vice Chairman of PRI, Sadiq Ahmed, MCCI President Kamran T Rahman, CSE Chairman Asif Ibrahim, and DCCI President Ashraf Ahmed, along with panel discussants.

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