Finance Minister AMA Muhith today said his proposal to allow whitening of undisclosed money in exchange for 10 percent tax within three years has been interpreted wrongly.

Talking to reporters at the Planning Commission, he said the black money holders have to declare in the first year the amount of money they are going to invest during the following three years and how many employment they will generate.

The finance minister however said the interested investors would be able to invest the money gradually during the three-year period.

“I would expect that the investors will declare in the first year the amount of money they are going to spend in the next three years,” said Muhith.

He also hinted that some issues of the proposed budget for fiscal year 2009-10 will be modified before passing it by the House.

“Of course, we will review the whole budget again before passing it. I think three issues -- price of mobile phones, automobiles and undisclosed money -- are pretty much being discussed,” the finance minister said.