The AB Party strongly criticized the government's recent decision to increase Value Added Tax (VAT) and duties on 65 goods and services without stakeholder consultation. At a press conference at the party's central office, leaders condemned the move as unjust and shortsighted, especially during efforts to recover from economic mismanagement under the deposed regime.

Asaduzzaman Fuaad, newly elected General Secretary of the AB Party, briefed the press on Monday afternoon. Fuaad strongly voiced AB Party’s commitment to economic justice and social equity.

Gradually abolish VAT entirely and replace it with a single, income and profit based direct taxation policy to ensure fairness and reduce the burden on low- and middle-income citizens. Relying on indirect taxes to balance the budget disproportionately affects marginalized groups and contradicts the ideals of equality, human dignity and social justice.

The party would also like to reduce state spending through downsizing unnecessary bureaucratic benefits and canceling redundant development projects.

Prioritise fiscal discipline and transparency in public expenditure management

The party also called to revise the falsified data on GDP, annual growth rates, per capita income and many more propagated during the fallen Hasina administration to reflect accurate figures.

Once these 'cleansing' measures are completed, the AB Party focuses on genuine employment generation and reducing inflation rather than promoting misleading economic successes.

'Rising prices a concern'

With the continuous increase in essential commodity prices, new VAT measures would further deteriorate the living conditions of ordinary citizens. At the same time, It is also concerning to see the open market sale by TCB being suspended without any notice to the struggling families who often queue up for hours to buy state-subsidised basic items, the party said.

Mojibur Rahman Monju, newly elected chairman of the AB Party, cautioned against measures that worsen the struggles of the poor and warned that continued economic hardship could lead to widespread unrest. He urged the government to make life easier for citizens by curbing corruption and ensuring affordable access to essential goods and services.

The party recommends expanding the scope of direct taxation to increase state revenues without burdening vulnerable populations, and implementing austerity measures to reduce unnecessary government expenses.