Migrant workers will not be charged for sending remittance home, says Finance Minister Muhith

Bangladeshi migrant workers will not be charged for sending money home from the next fiscal year, Finance Minister AMA Muhith said.

Speaking at a pre-budget discussion organised by the Economic Reporters' Forum on Saturday, he said the decision came after the prime minister's instruction to find ways to augment remittance inflow.

Bangladesh’s inward remittances fell 16 percent year-on-year in the July-April period.

"The prime minister gave some instructions to prop it up. She said migrant workers should not be charged for sending remittance.

"I think we will do it. They (expatriates) will not have to spend anything to send money," he told the discussion held at the finance ministry.

Muhith said Bangladesh is likely to receive less remittance from the Middle East. "There's a slowdown going on over there. The wages have been revised."

The finance minister said they plan to withdraw the floor price in buying and selling of lands in an effort to curb capital flight.

"We fix a price, but the reality is, the price is way higher and that money cannot be used in the country,” he said describing the funds as 'black money.'

According to him, real estate is the prime source of undeclared or black money in the country. "This money is then siphoned off. That's why we plan it to withdraw in the next budget."

Muhith said the government will continue its subsidies for the power sector. "We want all the villages under electricity coverage. At present, 80 percent of the villages have power connectivity."