State Minister for Planning Zonayed Saki on Monday stressed the importance of strengthening domestic revenue collection to place Bangladesh’s national budget on a more sustainable foundation.
He said reducing dependence on external debt and increasing internal revenue - particularly through higher taxation and pricing of health-hazardous products such as tobacco - remains a key government priority for achieving inclusive development.
The state minister made the remarks while speaking at a seminar titled “Necessity of effective tax and price increase of tobacco products in the upcoming 2026-27 fiscal year budget for protecting public health” held at the Economic Reporters Forum (ERF) auditorium in Dhaka.
The event was presided over by ERF President Daulat Akter Mala.
Zonayed Saki pledged strict enforcement measures to curb illegal tobacco trade while also ensuring protection for farmers and workers engaged in the sector.
He noted that a large segment of the economy still remains outside the formal tax net.
He also criticised the current state of digitisation at the National Board of Revenue (NBR), claiming that despite spending around Tk400 crore, the system has yet to deliver effective results.
He described ongoing maintenance costs as inefficient use of public resources rather than meaningful institutional development.
“True development is not possible through an ADP based on debt,” he said, adding that Bangladesh must rely more on internal revenue rather than debt-driven development.
The minister advocated for raising tobacco taxes and base prices to discourage consumption while ensuring fair compensation for farmers and workers in the sector.
He alleged that tobacco companies often suppress prices to increase market control, resulting in underpayment of producers and workers. He added that fair wages would naturally contribute to higher prices and reduced consumption.
Highlighting revenue leakage, Zonayed Saki pointed to the circulation of illegal banderols, including counterfeit labels reportedly produced abroad.
He said significant revenue losses are occurring due to such practices and instructed the NBR to introduce a dedicated monitoring mechanism to address the issue.
Looking ahead, he said the government aims to build a trillion-dollar economy based on inclusivity. As part of strengthening social protection, he also announced plans to introduce a “One Citizen One Number” system.
Other speakers at the seminar urged the government to fulfil its electoral pledges by increasing tobacco and carbon tax revenues.
They also called for comprehensive reforms in tobacco taxation and significant price adjustments in the upcoming national budget.
