All land, flat owners in Dhaka own black money: Finance Minister

Finance Minister AHM Mustafa Kamal on Wednesday said all those who have lands or flats in Dhaka are the owners of black money.

He remarke it while responding to a question from reporters after a virtual meeting of the Cabinet.

Kamal said: “The price of any land purchased in the capital’s Gulshan area is more than the actual price of the land registered.

“But you can't register at a higher price. Prices are fixed for each mouza, and cannot be registered at a higher price. So here’s where the black money comes in. Who is out of black money these days? ”

The Minister said: “The reality is that the flats that are being registered for Tk2 crore have a real price of Tk10 crore. As a result, the government is not getting additional registration fees. This is where black money is rising.”

Kamal mentioned that, when he is trying to bring black money into the country, others are saying that laundering of black money is being encouraged.

“I keep saying that this is rather undisclosed money. There is nothing to be ashamed of as the government is responsible for that,” he observed.

Kamal claimed that, when the smuggled money comes, a part of it will be invested in the capital market, various industries, trade and commerce.

Asked if he was under pressure over the smuggled money, the minister said: "I am not under any pressure. I will do what I say.”