Black money whitening practice to be stopped
Staff Correspondent
The interim government has decided to end the practice of whitening black money as part of reforms in various sectors.
Besides, the interim government has decided to take steps to curb money laundering.
The decision was taken at the weekly meeting of the Council of Advisers held at the state guesthouse Jamuna on Thursday with Chief Adviser Prof Yunus in the chair.
"A decision has been taken to stop this. A clear decision has been taken against the provision of whitening black money," Adviser on Environment, Forest, and Climate Change Syeda Rizwana Hasan said while briefing reporters after the meeting.
She said, "An order is being implemented to reverse the policy. Previously, it was said that black money could be made white. Now, the opposite is true."
She further explained that the government had determined that the financial gains from whitening black money were minimal compared to the ethical and societal costs. "There was a clear decision to end this practice," she said.
Besides she confirmed that effective measures against money laundering have already begun.
The previous government had allowed the whitening of black money multiple times as a strategy to boost revenue.
The government has given importance to moral issues instead of whatever money is coming through whitening black money.
