Bangladesh requires urgent economic reforms to address pressing challenges, Finance Adviser Salehuddin Ahmed said on Sunday.
Speaking at an event marking International Customs Day at the National Board of Revenue (NBR) headquarters in Agargaon, Dhaka, he emphasized the critical need for systemic changes.
“We often talk about political, economic, and electoral reforms. All are essential, but economic reforms are most urgent at this moment,” Salehuddin said.
Acknowledging the complexity of the process, he said numerous procedural laws and regulations make implementation difficult but emphasized the importance of transparent application for progress.
"We have modern systems in place, but inefficiencies in governance hinder their effective use," he noted, referencing areas needing improvement.
The adviser also expressed frustration over delays in the National Single Window project, launched in 2017 but only partially implemented last month.
He called on businesses to cooperate in revenue collection while urging transparency and fairness.
"We don’t make illogical or illegal demands. Businesses must simply pay their arrears," he said, adding that the government avoids underhand practices.
Salehuddin also urged NBR officials to strengthen their efforts to meet revenue collection targets, emphasizing that 2024 presents significant challenges.
The seminar, attended by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Administrator Md Hafizur Rahman, NBR Chairman Abdur Rahman Khan, and Finance Secretary Md Khairuzzaman Mozumder, highlighted the hurdles in revenue management.
NBR Chairman Abdur Rahman Khan cited reluctance among businesses to maintain proper transaction records to avoid paying full taxes.
“Automation would ensure compliance and accountability, but many businesses resist it because of the increased VAT and taxes they must pay,” he explained.
He also addressed widespread mis-declaration during imports, a persistent issue undermining revenue collection, and pledged to address misconduct among revenue officials.
“There is significant discussion about mis-declaration at the import stage. It creates problems, and we are committed to eliminating such practices,” Abdur Rahman said, while assuring strict action against any official misconduct.