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Per capita foreign debt stands at Tk 24,890

Published : 15 Sep 2021 09:47 PM | Updated : 16 Sep 2021 12:58 PM

The per capita foreign debt of the citizens of Bangladesh stands at Tk 24,890, said Finance Minister AHM Mustafa Kamal.

He said that the current external debt balance of the country is $49.46 billion. 

The finance made the disclosure while replying to a query from ruling Awami League MP Didarul Alam from Chittagong-4 in the parliament on Wednesday with Speaker Dr Shirin Sharmin Chaudhury in the chair.

According to Bangladesh Bureau of Statistics, the total population of the country is almost 17 crore, as per which, the per capita external debt is $292.11 (24,890.69 in Bangladesh taka as the exchange rate is Tk 85.21 per dollar).

In terms of population, the per capita debt in FY2020 was $389.53, which is 6.8 percent higher than in FY2019 when it was $364.60. 

According to the data shared in the central bank's annual report titled “Foreign Direct Investment and External Debt,” the total external debt stood at $65.27 billion in FY2020, 8.1 percent up from the previous fiscal year.

The loan agreements with various development partner countries or institutions until 30 June of the running year amounted to $95.91 billion, AHM Mustafa Kamal further said adding that, of this, $59.46 billion have been already paid.

“Currently, $46.45 billion is waiting to be sanctioned,” he added.

On the other hand, the finance minister AHM Mustafa Kamal said that the VAT collected by buyers from various shopping malls in Dhaka, including Shwapno, Agora, Prince Bazar, DSS and Lazz Pharma Limited, is deposited in the state treasury.

“In the last 2020-21 fiscal year, Tk 46.30 crore was collected from Super Shop 'Swapna', Tk 19.33 crore from Agora, Tk 8.32 crore from Prince Bazar and Tk 5 lakh from DSS as tax,” the finance minister said in response to a question from Asim Kumar Ukil (Netrokona-3) in the Parliament.

He said that all VAT is levied at the production level in the interest of keeping the price of medicines stable. 

“Therefore, in case of retail sale, it is not necessary to collect VAT from the consumer and submit it,” he added. 

He said that according to the Value Added Tax and Supplementary Duty Act, 2012, it has already been made mandatory to provide a VAT invoice in VAT-6.3 form to the buyer to ensure transparency in VAT collection.