<i>Muhith says sorry for losing temper</i>

Finance Minister AMA Muhith yesterday said because of old age he at times lost his temper and he was sorry about that.
He said this at a meeting with leaders of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) on tax proposals in the budget for the next fiscal year.
"I am 78 years and six months, which means nearly 79 years. So, at times I lose my temper. Please forgive me," Muhith told the business leaders.
At the meeting, FBCCI President AK Azad said many tax proposals had been made in the next year's budget to meet the conditions the International Monetary Fund (IMF) had attached to a $1 billion loan to Bangladesh.
In response, the minister said these were all "bogus" talk and that people made such remarks on the basis of wrong information and without knowing the facts.
The IMF in 2011 asked the government to formulate a VAT (value added tax) law but that was not done, Muhith said. A draft VAT law will be placed in parliament this year.
Some people were very loud in criticising the World Bank and the IMF but they work as consultants for the organisations, the finance minister observed.
The FBCCI made 37 recommendations on income tax, VAT and import tax for the proposed budget.
The minister said the government would consider those recommendations, especially the one relating to waiving advance income tax on exports.