Chief Whip Md Nurul Islam on Tuesday said the government has prioritised preparing a humane, welfare-oriented and cost-effective budget for FY2026-27 to address the country’s fragile economic situation and ease the suffering of ordinary people.
Speaking as the chief guest at a budget discussion organised by the MBA Association of Bangladesh (MAB) at the National Press Club in the capital, he said the budget had been formulated with the needs of common people at its centre.
Referring to uncertainty in the banking sector and concerns over depositors’ security, the Chief Whip criticised a law enacted during the previous government’s tenure under which depositors of a failed bank would receive a maximum of Tk 100,000, regardless of the amount deposited.
“Why was such a law enacted, and why were people compelled to accept it?” he asked, alleging that the previous administration had pushed the banking sector towards collapse.
“The banking sector has effectively been destroyed,” he said, adding that long-term and in-depth discussions would be required to ensure sustainable reforms in the sector.
Expressing concern over money laundering and inflation, Nurul Islam claimed that around Tk 30 trillion had been siphoned out of the country.
He said the pressure created by the outflow of funds had contributed to the depreciation of the local currency, with the exchange rate of the US dollar rising from Tk 82 to Tk 130. He also noted that the dollar had increased by Tk 7 in a single day at one point, placing a heavy inflationary burden on ordinary citizens.
Highlighting the importance of democracy, the Chief Whip criticised the former one-party BAKSAL system, saying it had undermined fundamental rights and the judicial system.
He also paid tribute to former President Ziaur Rahman, saying that he had guided Bangladesh towards food self-sufficiency within a short period and opened new horizons in agricultural production.
The Chief Whip further expressed respect for former Prime Minister Begum Khaleda Zia’s role in the struggle for democracy.
Calling for a human-centred assessment of the budget rather than viewing it merely through statistics, he said, “We often engage in theoretical discussions about the budget, but the most important issue is stopping the suffering of ordinary people and ensuring their basic needs are met.”
He said the current government had framed the budget with that objective in mind.
Urging collective efforts to alleviate the hardships of marginalised and deprived people and recover looted assets, he stressed the need for national unity in overcoming economic challenges.
The Chief Whip also underscored the importance of constructive criticism and openness to necessary amendments in order to rebuild and strengthen the economy, calling on all stakeholders to work together in the national interest.
The discussion was chaired by MAB President Syed Alamgir and moderated by Dr Md Shamsuzzaman. The keynote paper was presented by Dr A K M Wareshul Karim.
Senior journalist Abu Sayeed Khan, Zubayer Ahmed Babu, economists, researchers and other experts also spoke at the event.