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World Bank to hike tobacco tax

The World Bank (WB) Group has taken initiative to raise tobacco tax across the world and already has started its planned activities, reads a report by Hamid-uz-Zaman Mamun, an ATMA member, on the Daily Jugantor on September 29, 2017.

Following the report, the annual meeting of the World Bank and IMF will be held from 13-15 October 2017 in Washington DC and a special session will be held on October 11 about “Tobacco Taxation: A Win-Win for Public Health and Domestic Resource Mobilization”.

The Finance Minister A M A Muhit has been invited as a panelist at the event. Anti-tobacco organizations in Bangladesh have welcomed the initiative. Welcoming the WB-IMF initiative, an anti-tobacco campaigner told the newspaper that Finance Ministry is always under fear that revenue will be reduced in case of tobacco tax increase.

But a consultation with the World Bank and IMF will help improving the situation and the Finance Minister will realize the importance of tobacco taxation which will help to increase revenue and reduce cost of tobacco use, after all, facilitate to achieve SDG targets.

The invitation letter reads that use of tobacco products is creating an unwanted pressure on public health economy and a huge number of people die premature deaths.

The detail of the report is available on the following link: https://www.jugantor.com/industry-trade/2017/09/29/159496/তামাক-পণ্যে-কর-বাড়ানোর-উদ্যোগ-বিশ্বব্যাংকের

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