United News of Bangladesh

Prime Minister’s Finance and Planning Adviser, Professor  Rashed Al Mahmud Titumir, on Saturday dismissed widespread rumors that the government is printing money, labeling such claims as "mere fables" with no basis in reality. "The propaganda regarding the government printing money is nothing but a fable. It has no alignment with reality," the Adviser said, emphasizing that the administration is instead prioritizing investment and employment generation, alongside taking special initiatives to reopen closed factories. The Adviser made the remarks while speaking at a pre-budget shadow parliament debate competition as the chief guest at the Bangladesh Film Development Corporation (BFDC) premises in the capital today (Saturday).  Organized by 'Debate for Democracy,' the event focused on the core challenges of controlling inflation in the upcoming national budget. Reflecting on the economic struggles inherited by the administration, Dr. Titumir noted that a severe income crunch had previously hit households, businesses, and the government alike. "The impact was so pervasive that many lower-middle-class families slipped below the poverty line, which is tragic. This eroded the social fabric, leaving the middle and lower-middle classes vulnerable, while entrepreneurs faced a crippling lack of capital," he added. Slamming the previous Awami League-led regime for institutional collapse, the Finance Adviser alleged that the ousted government continuously interfered in the central bank's operations and handed over the power and energy sector to a select few companies. "The current government does not want to lease out any sector to such syndicates. Rather, we aim to involve the general public by democratizing the economy," he asserted. Dr. Titumir further criticized the past administration for plundering massive amounts of borrowed money under the guise of infrastructure development. He alleged that growth figures were previously fabricated through institutional coercion and intimidation, promising that the current government would keep all data from the Bangladesh Bureau of Statistics (BBS) entirely transparent and open to the public. Chaired by Hassan Ahmed Chowdhury Kiron, Chairman of Debate for Democracy, the session highlighted the fragile economic landscape inherited by the present government, which has been further strained by geopolitical tensions, including the ongoing war in the Middle East. Kiron pointed out that rising commodity prices in the global market, surging import costs, and hiked domestic fuel prices have spiked transportation, agricultural, and production costs. Consequently, consumer goods have become priceless for limited and lower-middle-income groups, making inflation control and restoring financial discipline the biggest challenges for the upcoming budget. Debaters from the National Institute of Textile Engineering and Research (NITER) won the debate titled "Controlling Inflation will be the Main Challenge of the Upcoming Budget," defeating Mawlana Bhashani Science and Technology University (MBSTU). The panel of judges included Professor Abu Mohammad Rais, Dr. SM Morshed, and journalists Towhidul Islam, Saidul Islam, and Golam Kadir Robu. At the conclusion of the event, trophies, crests, and certificates were distributed to the participants.