'Tk 110b lost in political unrest'

This Star photo taken on May 5, 2013 shows supporters of Hefajat-e Islam clashing with law enforcers at Motijheel in the capital.

Political vandalism caused the national economy a loss of Tk 11,000 crore in the current fiscal year, which is around one percent of GDP (gross domestic product).

Finance Minister AMA Muhith disclosed this in his budget speech today citing a survey of World Bank.

The political instability also affected the sector collection, resulting in forcing the authorities to revise the target of tax revenue downward at Tk 1,30,178 crore in FY 2013-14 by reducing Tk 11,000 crore.

In the run up to the 10th national election, there had been a serious political unrest in the first six months of the current FY, he said, adding that different political parties and alliances observed 45 days of hartal and blockade in just six months from July last year.

The minister further said communication was disrupted, port activities came to a halt, retail and wholesale buying-selling came down to almost zero, which had a debilitating effect on government revenue collection.

Frenzied destruction of government properties was another salient feature of these hartals and blockades, he said, adding that the main targets of attack were railway and government and non-government transports.

Government offices and educational institutions were not spared either, Muhith said.

Alongside the mass destruction of properties there had been a number of death incidents as well, the minister mentioned.