Chattogram-11: AL’s MA Latif's annual income dips, movable assets double
Awami League nominated candidate for Chattogram-11 (Bandar-Patenga) constituency MA Latif's annual income has fallen by about Tk 7.5 lakh in the past five years, but his movable property doubled during this time.
MA Latif has been elected three times from this constituency on AL ticket since 2008.
In 2018, his annual income was Tk 82 lakh 37 thousand but in 2023 it has decreased to Tk 74 lakh 82 thousand 282, according to an affidavit submitted on his behalf to the Returning Officer.
Despite the dip in income, his movable assets have more than doubled. In 2018, where his movable wealth was Tk 2,64,10,465, in 2023, that wealth jumped to Tk 5,72,47,706.
In 2018, when he was elected for the third term, he had a combined cash and bank deposits of Tk 1,86,16,237. Now, he has Tk 2,37,90,861 in cash and Tk 42,42,623 in the bank.
In 2018, he did not have any cars. According to the affidavit of 2023, he has a car now worth Tk 7 lakh 5 thousand 250.
Latif has bonds of Tk 8,46, 650, gold worth Tk 45 thousand, electronic equipment worth Tk 78 thousand and furniture worth Tk 25 thousand.
Latif kept an advance of Tk 2 crore 75 lakh 14 thousand 322 for giving loan and car purchase.
Latif mentioned in the affidavit that his source of income is business. He earns Tk 19 lakh 15 thousand 847 from agriculture, Tk 20 lakh 72 thousand 344 from businesses, Tk 25 lakh 35 thousand 315 as honorarium, Tk 2 thousand 365 from shares.
He has shown income from partnership deals and other sectors Tk 9 lakh 56 thousand 411.
Latif's wife has Tk 52 lakh 19 thousand 230 in cash, Tk 78 lakh 44 thousand 457 in bank deposits, Tk 44 lakh 73 thousand 325 bonds, gold worth Tk 5 thousand, electronic equipment worth Tk 80 thousand, furniture worth Tk 30 thousand. In all, his wife has a total movable property of Tk one crore 76 lakh 52 thousand 12.
In the 2018 affidavit, Latif showed the annual income of his dependents as Tk one crore 11 lakh 84 thousand 132 and the movable assets of his dependents as Tk one crore 8 lakh 35 thousand 250.
But in his affidavit this year, he did not mention anything about the income or assets of his dependents.
He mentioned that he set up deep and shallow tube wells, and initiated training for women and young people for the development of living standards, welfare programmes for professionals, ethnic people and people from other districts.
He said he would expend Tk 24.50 lakh for his elections purpose and the total amount will be provided by him from the income of business. Latif mentioned that his educational qualification is Diploma in Lether Technology from Germany.
When asked, Latif said that due to the global economic recession, his annual income has decreased due to the slowdown in his businesses.
When asked about the increase in movable assets despite the decrease in income, he said that this growth is due to the increase in the financial value of his assets in five years.
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