Muhith tells Mustafa Kamal to call him when he needs to formulate next budget

AMA Muhith, the outgoing finance minister, has expressed his interest to cooperate with his successor, AHM Mustafa Kamal, in formulating the budget for the next financial year.

“There is something ready for the next year's budget. You can call when needed. I’ll be present and do as far as I can,” Muhith said to Kamal, who was sitting beside him, at a reception organised by the National Board of Revenue on Thursday.

After taking over the charge of the finance ministry under the Sheikh Hasina-led government in 2009, Muhith had presented 10 budgets in a row and two budgets during the military regime of HM Ershad.

"I'm going on retirement, but not bidding adieu to work. I have time now. I have no plans to go abroad before next April, "said Muhith who retired from politics recently.

Praising his predecessor, Kamal said, "In the last 10 years, Muhith Bhai's contribution to bring the country's economy to where it is now is immense.”

"His talent can be found in his works. He is among us in many ways. He has raised the per capita income from $543 to $1,751. "

Terming Muhith 'the conscience of the nation', he said, "His occasional remarks created controversy. But what he said was true. "

Muhith gave credit to the prime minister for his achievements.  “Our prime minister was behind what I have achieved in the last 10 years.”

"The prime minister entrusted an old man with the work. I told her then “I am 74 years old, please give me work where little efforts are needed”. But she did not listen to me.”

Muhith put emphasis on the government’s continuity and stability for the development activities of the country.

"The honourable prime minister continued for two consecutive terms. That’s why she achieved extraordinary success in the last 10 years. Now she got another five years. I believe she will be able to take the path of growth to a higher level if she gets another straight term."

He advised Kamal to raise revenue collection to a “reasonable level” by setting a five-year target.

“I don’t think our revenue collection is more than 12 percent of our GDP,” he said.

In Muhith’s view, it would be possible for Kamal to increase the number of income tax payers to as high as 10 million in his term.

He recalled how the number grew from 700,000 to 1.5 million and finally crossed the 3 million mark.

“Please bear in mind that we are advancing in a process and we need to take it forward so that it becomes automatic,” Muhith added.

HOW MUHITH ENTERED ECONOMICS

Muhith, who is turning 85 on Friday, recalled how he, a student of English literature, entered the world of numbers.

He joined the civil service in 1956. The then Pakistan government opened the railways ministry and Muhith got appointed there.

“I got introduced to budget in that job. We had to make the first budget for railways in 1962,” he said.

The government had arranged training for the officials, for which Muhith and the then deputy secretary of finance Quazi Abdur Rahim had to travel to Rawalpindi in the then West Pakistan.  

The government had asked them to make projections of expenditure and present it in a budget table.

“That was how I came to know about finance,” Muhith said and added he had also worked in planning for a few years afterwards.

He believes it was possible for him to become a specialist on a particular subject because his work areas changed less.    

“I must thank the then senior officers for keeping me in a line. I didn’t get out of finance and planning afterwards, not even when I was abroad. It allowed me to gather experience and knowledge,” Muhith said.    

He said he considered retiring in 2001 but later thought better of it.

“It occured to me that it was an untimely thought. I had many dreams at the time but none of them mareialised. But no more now,” he said.