DHAKA: The ceiling of personal income tax will be increased from 2.20 lakh to 2.25 lakh and it will be fixed for next five years.

Finance Minister AMA Muhith made the disclosure in a pre-budget discussion with Economic Reporters Forum (ERF) at Secretariat on Saturday.

He said since there is a little private investment in Bangladesh, money is being channeled to other countries.

Muhith also observed that political unrest in the country is the main reason in this turbulent economic situation.

This unrest political situation is behind the lack of confidence, he added.

The ruling Awami League lawmaker added that many of the foreign investors left country in last December and January.

They are returning gradually, lamented.

He said, “If we can provide the investor land for industry, the economic situation will improve rapidly.”

Muhith informed media that the current number of taxpayers is 11 lakh and a target is set to double the figure in next five years.

About capital market, the finance minister said it is now in a stable position and investment will increase soon.

National Board of Revenue Chairman Golam Hossain, Planning Secretary Bhuiyan Shafiqul Islam, IMED Secretary Suraiya Begum and ERF General Secretary Sazzadur Rahman were among others present at the discussion.

BDST: 1455 HRS, MAY 10, 2014