Nahid Islam, chief whip of the opposition in Parliament, has described the proposed budget for 2026-27 fiscal year as an “unrealistic and propaganda document” standing on a “fragile economy.”
Participating in a general discussion on the proposed budget in Parliament on Sunday, he claimed that the plan prioritises luxury and import-dependent schemes over the creation of employment and the growth of production for the general public.
The session was presided over by Deputy Speaker Barrister Kayser Kamal.
Critique of economic policy
Nahid, also the convener of Convener of the National Citizen Party (NCP) argued that through the use of “family cards,” the government is merely creating “consumption demand” rather than “production or investment demand.”
He warned that this would lead citizens to purchase Indian or Chinese goods, resulting in high inflation and a dependent population. He emphasised that the country instead requires policies to engage the youth in the production sector through training and credit.
Drawing a historical parallel, the chief whip claimed that the Awami League’s post-1971 policies of politicisation and occupation resulted in famine.
He noted that late president Ziaur Rahman later fostered employment through a free-market economy and the development of medium industries, citing the garment industry as a primary example.
Nahid remarked that the current budget lacks the well-planned employment policies seen during that era.
Financial crimes and nationalisation
Nahid stated that he views money launderers and those responsible for genocide as committing equal offences.
He argued that existing laws are insufficient to take action against groups such as S Alam, Beximco, Orion, or Nassa, which have reportedly laundered money. He called for the nationalisation of their assets and the enactment of new laws to recover the siphoned funds.
Critiquing the power sector, the chief whip pointed out that the Bangladesh Power Development Board (BPDB) purchases electricity at 12 Taka and sells it at 6 Taka, with the deficit being funded by the public.
He described “unequal agreements” with Adani and the Summit Group as “planned structural looting” rather than mere corruption. He called for these contracts to be challenged at an international level, stating that industrial investment would remain stagnant unless electricity prices were reduced.
Foreign policy and border killings
On foreign affairs, Nahid highlighted that ten Bangladeshis were recently killed at the border by the BSF. He condemned the “audacious” remarks of West Bengal Chief Minister candidate Suvendu Adhikari, who allegedly threatened to “teach a lesson” like Israel.
Nahid demanded a “crushing response” from the Ministry of Foreign Affairs. Furthermore, he stated that the new Indian High Commissioner should apologise to the people of Bangladesh for India’s role in “unethically” supporting the Awami League in power for the past 16 years.
July Uprising and institutional reform
The chief whip expressed concern that the July Foundation, formed to preserve the memory of the July mass uprising, is unable to function due to a lack of funds. He demanded a special allocation for the foundation and called for the “July Mass Uprising Museum” to be opened to the public by 5 August.
Concluding his speech, Nahid maintained that economic reform is impossible without political reform and the establishment of good governance. He urged for the reform of the Anti-Corruption Commission (ACC) and the judiciary to curb corruption.
He called on the government to be sincere in building a non-discriminatory and democratic Bangladesh in accordance with the pledges of the “July Charter,” warning that without these changes, the massive budget would be of no use to the common man.
