Bangladesh Jamaat-e-Islami's Amir Shafiqur Rahman has proposed aligning the fiscal year with the calendar year (January 1 to December 31). He argues that the current fiscal year (July to June) leads to rushed implementation of the Annual Development Programme (ADP) in the last two months, resulting in corruption and loss of funds. Rahman plans to present this proposal in parliament. He also criticized the current system of supplementary budgets and the flawed tax collection process.
Proposal Details and Criticisms
Shafiqur Rahman highlighted that the current fiscal year ends in June, a period often marked by monsoon rains, droughts, and cyclones in Bangladesh. He believes that aligning the fiscal year with the calendar year would prevent funds from being 'washed away' during the monsoon and ensure better accountability. He also criticized the supplementary budgets, stating that they are often presented too late and result in illegitimate and unjust expenditures. Furthermore, he pointed out flaws in the tax collection system, alleging that a significant portion of collected taxes ends up in the pockets of corrupt officials and extortionists.
