Adviser to the Ministry of Power, Energy and Mineral Resources Muhammad Fouzul Kabir Khan said the interim government was working to dismantle the entrenched cycle of political corruption and establish a competitive economy through principled leadership.
He also expressed optimism that the fiscal template they established would guide future elected governments, said a press release.
He was speaking as the chief guest at a seminar and policy debate titled ‘Budget Debate: Context-Appendix for the fiscal year 2025-26’ organised by the Bangladesh Economic Association on Saturday in the capital.
‘The current budget is a budget of political vacuum, where all state institutions have been destroyed and looted at the same time by the previous government,’ he added.
He also highlighted some of the recent achievements, ongoing activities, and plans of his ministries, including the renovation of internal rivers, the closure of unplanned power generation plants, and the expansion of solar power generation projects at the institutional and consumer levels.
In the budget article, Sajjad Zahir, executive director of the Economic Research Group, emphasised the short- and medium-term sustainable development aspects of the announced budget.
He also stated that there should be greater transparency in the numbers regarding the Bangladesh government’s domestic and foreign borrowing to address the budget deficit.
Professor Sayema Haque Bidisha, pro-vice chancellor of Dhaka University, stated that contractionary monetary and fiscal policies could hinder job creation, particularly for young people, amid rising inflation and sluggish private sector employment.
Bangladesh Bank Research Director Md. Gulzar Nabi expressed strong optimism about the medium and long-term stability of the macroeconomy.
He said that the contribution of self-sufficiency in food production, remittance flow, and the ready-made garment sector.
Zulfiqar Ali, research director of the Bangladesh Institute of Development Studies, highlighted the mismatch between the education and employment sectors.
He urged increased funding for science, technology, and vocational education.
He also lamented the absence of an education commission under the current government.
Kazi Iqbal, director of Industrial Economics at BIDS, criticized the lack of alignment between national industrial policy and global de-globalization trends.
He emphasized the importance of targeted, export-oriented industrial strategies and long-term planning.
Abdul Awal Mintoo, chairman of National Bank PLC, criticized the budget’s political character, pointing to the capture of institutions by vested interest groups.
He emphasized the need to meet preconditions for investment to mitigate the effects of tight monetary policy.
Renowned economists, professionals, and policymakers of the country also presented articles on nine aspects of the announced budget.
The convener of the interim committee of the BEA, Professor Mahbub Ullah, presided over the event, while the member secretary of the same committee, Professor Mohammad Helal Uddin, moderated it.