Bangladesh Nationalist Party standing committee member Amir Khasru Mahmud Chowdhury has urged the interim government to focus on damage control in the upcoming national budget instead of continuing with current policies.
In an interview with 抖阴精品 on Sunday, he warned that Bangladesh鈥檚 economy was fragile and worsening, and stressed the need for urgent and practical measures to tackle the growing crisis.
鈥楾he next budget should not aim to carry forward the problems of the past. It must focus on damage control and laying a foundation for the next elected government鈥檚 economic policies,鈥� said Khasru, also former commerce minister.
Repeating that the continuation of the previous budget would be counterproductive, especially when investment has dried up and public confidence is eroding, he mentioned.
Khasru pointed at stalled domestic and foreign investment as a serious concern, attributing it to the uncertainty surrounding upcoming elections and the lack of clarity on future policy directions.
According to Khasru, businesses were holding back until there was a credible and stable political roadmap in place.
鈥楾he business community, both locally and internationally, is waiting to see what kind of government emerges after the elections. Without clarity, no one is going to pledge serious investment,鈥� he explained.
In addition to stalled investment, revenue collection has suffered, he said, linking it to declining trade and a broader slowdown in business activity.
鈥榊ou cannot expect healthy revenue generation without wealth creation. And you cannot create wealth when the economy is stagnant,鈥� Khasru said.
He emphasised that only through a democratised economic model 鈥� one that encourages broader participation and a level playing field 鈥� Bangladesh can be rebuilt.
He called for re-evaluation of the economic model, including stronger social safety nets and a shift away from highly centralised and elite-driven policies.
鈥楾he current model is not inclusive. It benefits a small group while leaving the majority behind. That must change,鈥� he said.
Regarding the graduation of Bangladesh from the Least Developed Country status to developing one, Khasru advocated for a two- to four-year deferment, arguing that the economic data being used to support graduation may not reflect the on-ground reality.
鈥榃e are losing jobs, investment is plummeting and yet we claim to be ready for LDC graduation! That is a contradiction,鈥� he said, adding that more time was needed to give the economy breathing space.
Khasru said that key issues such as market access, cost of funds and labour conditions must be carefully considered before Bangladesh proceeds with its LDC graduation.
He suggested that the government should seek a deferral, pointing out that while international observers and economists might offer various opinions, the actual situation on the ground does not justify moving forward with graduation.
Graduation is intended to reflect progress, but in the current context, the economy needs to be stabilised and recovered first, Khasru mentioned.
He also stressed the need for deregulation and liberalisation, claiming that the economy was currently overregulated in favour of vested interests.
鈥楾he system is designed to serve a few. If we want to attract serious investment, that has to change,鈥� Khasru said.
On trade policy, the BNP leader urged the government to prepare for upcoming challenges.
He said that while the US government was open to communication regarding tariffs, it was essential for Bangladesh to present a concrete proposal.
Khasru mentioned that the BNP had already completed their work on the US tariff proposal and would be willing to share it if the government showed interest.
He said that without a formal proposal to begin discussions, no progress was likely, and simply remaining idle would not resolve the issue.
Regarding financial sector, Khasru said that salvaging the country鈥檚 struggling banking and capital markets would be extremely challenging, as both sectors were already in a state of severe decline.
He said that to recover these key financial areas, Bangladesh must adopt a new economic model focused on attracting substantial domestic and foreign investment.
He suggested that such a model should prioritise large-scale investment in agriculture, services, industry and infrastructure development, alongside job creation and transforming the population into productive human capital.
