NCP convener Nahid Islam has strongly criticised the proposed national budget, describing it as “too ambitious and detached from economic reality” and questioning the government’s approach to banking reforms, loan defaults, and financial accountability. Speaking to reporters on Thursday night, Nahid said the budget speech failed to address key concerns in the banking and financial sectors, including non-performing loans, money laundering, and the recovery of illicitly transferred funds.
“While the government talks about democracy and economic progress, there is no clear plan on banking sector reform, action against loan defaulters, or how stolen money will be recovered,” he said, adding that the finance minister’s speech lacked a credible roadmap for increasing national revenue. He further alleged continued political influence in the banking sector, citing Islami Bank as an example. “We are seeing unprecedented politicisation of the banking sector. Islami Bank has become a major example, and concerns over it have already been raised in Parliament,” he said.
Nahid Islam also pointed to what he described as a gap between electoral promises and policy implementation, claiming that politically motivated appointments continue in financial institutions, including Bangladesh Bank, despite pledges to avoid such practices. “The banking sector’s instability and loss of public trust are resurfacing again,” he said.
Criticising the budget framework, he said it lacked substance. “It looks attractive on the surface, but it has no real value,” he remarked. He warned that the proposed fiscal plan could increase debt dependency and place additional financial pressure on citizens. However, he acknowledged some positive aspects, including increased allocations for education, health, and social safety programmes, while noting cuts in several other areas.
Nahid also stressed that economic accountability cannot be ensured without political reforms. “Without political reform, corruption cannot be controlled, and this budget may open new avenues for it,” he said. He added that the NCP will soon present a detailed, point-by-point analysis of the proposed budget.
