The New Nation - Internet Edition

Staff Reporter

Finance Minister AMA Muhith yesterday admitted that the government had to compromise with a vested quarter and re-introduced the provision of whitening black money in the proposed budget against the moral belief of Prime Minister Sheikh Hasina and himself.

The Finance Minister, flanked by Cabinet Ministers, Advisers to the Prime Minister and senior officials concerned, was addressing a crowded post-budget press conference at the NEC auditorium yesterday afternoon.

Asked if he had proposed the provision against the will of Prime Minister Sheikh Hasina, who was very much critical against whitening black money when she was the opposition leader, Muhit said, "Prime Minister and I myself still believe that to allow someone to wash black money white is unethical. But, Politics is the highest art of compromise."

"Politics has to feel all kinds of people, all kinds of interests. Expediency to avoid, consistency you must honour," the minister also added, as he was facing a volley of questions on widespread criticism on the measures, including the provision for whitening black money, implementation challenges and leakage of budgetary measures much ahead of announcing the budget.

Muhit said that he did not meet any individual during the budget preparation process, but met with different associations as part of the budget preparation.

He said it was not an easy task to eliminate corruption while there was no shortcut way to have a quick solution to this problem. "You've to give a chance to the people so they try to get rid of corruption. There might be a possibility that anyone could change his mind (after whitening the black money)."

He said similar opportunities have been offered several times in the past. "We won't say all of the past opportunities have been successful. We won't also say that we'll be successful. But we'll have to give a try."

Muhit said those who will invest their undisclosed money would have to show how much employment opportunities they would have created by 2012.

"We'll take back all the rebates to be given under the amnesty if we see they could not create desired level of employment," he warned.

The finance minister also admitted that the government would face even bigger challenges to implement the budget than it did in formulating it.

"It is a big challenge to implement budget rather than formulating it. Our government has taken the challenge," he added.

He said that the proposed budget did not burden the people with taxes.

Agriculture minister Matia Chowdhury, planning minister A K Khandaker and information minister Abul Kalam Azad were also present. Besides the finance minister, they also took questions from reporters.

The finance minister placed the Tk 1,14,000 crore maiden budget of the Awami League-led Grand Alliance government on Thursday in the parliament when BNP-led opposition parties were absent.