B MirrorDesk: Financial Advisor Dr. Salehuddin Ahmed announced that a pragmatic Annual Development Program (ADP) will be adopted in the upcoming fiscal year budget. He emphasized that there will be no large-scale mega projects funded through borrowing or by printing new money from banks.

Revenue collection has increased by 2 percent compared to last year (2024), which is a positive sign, and he anticipates further growth. He assured that the revenue will not fall below last year’s figures. This statement was made to reporters following the Advisory Council Committee on Government Procurement meeting at the Secretariat on Tuesday (May 13), chaired by the Financial Advisor. Dr. Ahmed further explained that the budget will be executed realistically, with minimal gaps, and projects will be implemented based on a practical approach. While some deficits are expected, he is currently in discussions with the International Monetary Fund (IMF) and the World Bank regarding project funding, which is progressing well. On Monday (May 12), the 53-year-old National Board of Revenue (NBR) was dissolved via an ordinance, following protests from customs tax officials against the division of the NBR.

When questioned by journalists, the Finance Advisor clarified that a careful reading of the ordinance reveals that their interests are fully safeguarded. The division is minor and will not pose any concerns for the NBR, which will continue to operate under several terms of reference. He noted that in international standards, policy and implementation divisions are distinct entities, as the policy division requires the expertise of professionals.

It is essential for them to understand economics, statistics, and the nation’s GDP. The NBR will execute this. However, if the NBR also formulates policies, which is a role solely focused on collection, it creates a conflict of interest. I established a policy and repaid it through the populace.