Eminent economist Professor Abu Ahmed challenged the notion that strict adherence to International Monetary Fund (IMF) conditions ensures economic prosperity, citing the persistent struggles of nations like Pakistan despite repeated bailouts.
The Investment Corporation of Bangladesh chairman argued that if IMF prescriptions were foolproof, frequent borrowers such as Pakistan (24 programmes), Nigeria, and Ghana would rank among the world’s wealthiest economies.
He made the remark when asked about the recent turmoil surrounding the proposed move to split the National Board of Revenue (NBR) into two separate entities following IMF’s prescription.
The economist questioned, “If the IMF prescription works properly then why are Pakistan, Nigeria, and Ghana becoming poorer day by day?”
Regarding the IMF’s proposal to split the NBR and establish the Revenue Management Division (RMD) and the Revenue Policy Division (RPD), he said that this was an old prescription.
“It was delayed in implementation, but the government should first examine global practices,” said Abu Ahmed. He stressed that the government must be able to independently decide which conditions of lending agencies should be accepted.
“Bangladesh’s economy is not in such a position where the government would vigorously beg for money by accepting every condition,” he observed. He also mentioned that before going through with this decision of splitting the NBR, the interim government should look into the matter with the local experts.
“Does Bangladesh now lack educated experts on this issue?”
Meanwhile, the NBR Reform Unity Council has intensified its protests, declaring a sustained non-cooperation movement with the NBR chairman while unveiling a phased agitation programme. The council plans to submit a formal memorandum of demands to the chief adviser’s office on Thursday, followed by targeted strikes across revenue offices next week.
On May 24-25, officials will observe complete work stoppages at all tax, customs and VAT department offices – except Customs House and LC Stations – maintaining essential export and international passenger services.
The partial strike will extend to Customs House and LC Stations on May 26 from 9:00am to 5pm on both days, with a comprehensive strike across all departmental offices, though international passenger services will remain operational.