Parliament passes Tk 200 billion supplementary budget for ongoing FY 2015-16

Parliament has passed a supplementary budget of Tk 198.036 billion for the current 2015-16 fiscal year.

Staff Correspondentbdnews24.com
Published : 7 June 2016, 10:58 AM
Updated : 7 June 2016, 12:31 PM

Finance Minister AMA Muhith placed the Appropriation (Supplementary) Bill, 2016 on Tuesday for approval.

The Bill was passed by voice votes.

Different ministries, divisions and institutions had sought the additional amount under 31 demands for grant.

As many as 190 cut-motions were moved by the opposition members on the supplementary budget, which were rejected by voice votes.

Discussions were held on cut-motions for six demands, for the Bank and Financial Institutions Division, the Local Government Division and ministries of defence, home, education and disaster management.

The finance minister tabled a demand for an additional Tk 2.38 billion for the Bank and Financial Institutions Division.

MP Rustam Ali Farazi opposed it citing large-scale irregularities in the sector.

“The banking sector has lost money over incidents of theft. It’s the same at every bank. Tk 80 million was stolen from Bangladesh Bank in collusion with its officials. In every case of theft, bank officials are involved,” he told his peers.

The independent lawmaker demanded forming a separate commission to regulate banks and financial institutions.

Jatiya Party MP Fakhrul Imam said the incidents of theft will come down if less funds are allotted to the financial sector.

In his reply, Muhith admitted that the sector was ‘faulty’.

“But I want to assure you that nothing of (cataclysmic) proportion has happened that all of these organisations are needed to be wiped out.  There have been some irregularities.”

Law Minister Anisul Huq raised the demand for an additional Tk 3.09 billion for the defence ministry. Huq is in charge of the ministry for parliamentary affairs.

During the cut-motion’s discussion, independent MP Farazi said, “The matter of this ministry is sensitive. Many believe that the defence spendings are not transparent. The minister should make it clear to us on this matter.”

Huq replied: ”All of the spendings are audited. There is no lack of transparency.”

The Bill for the supplementary budget says the FY 15-16 budget allocated Tk 2.95 trillion for 59 ministries and divisions.

In the revised budget, allotments for 38 ministries and divisions were increased by Tk 198.03 billion while those dropped by Tk 471.20 billion for 21 ministries and divisions.

The allocation on the whole now stand at Tk 2.64 trillion for the ministries during the ongoing 20151- fiscal year.