The authorities would not withdraw the 7.5% VAT imposed on the private universities, the finance minister AMA Muhith said at a press conference in Sylhet.
The press conference convened on Thursday afternoon when several hundred students of different private universities took to the street, protesting the government's decision of 7.5% VAT imposition on their tuition fees.
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Replying to a query regarding the ongoing protest, the minister told the journalists: “A press note of the NBR stated that the authorities of private universities will pay the VAT without increasing the tuition fees.
“So, The VAT will not be collected from the students.”
He further said: “I have to collect revenue, and the private universities are logically a big of source of that.”
“If the VAT is withdrawn, how the revenue will be collected,” Muhith threw the question to the audience.
The Finance Minister also said studying 28 private universities, he has found that every student on an average spend around TK1000 per day.
“So, the 7.5% VAT should not be a big amount for the students as it will cost only TK75 a day,” the minister added.
