NCP to place a people-centred shadow budget

The National Citizen Party will place an alternative budget ahead of the national budget, reflecting people’s expectations, said NCP Convener and Opposition Chief Whip Nahid Islam yesterday.

He made the remarks while speaking at a discussion on Bangladesh’s budget amid global uncertainty, organised by the party’s Shadow Budget Committee at the IDEB auditorium in Kakrail, Dhaka.

He said the initiative aimed to introduce a new political culture through a shadow budget and ensure a more active and meaningful debate on national budgeting involving both the treasury and opposition benches.

Nahid said the shadow budget would not be prepared solely based on expert opinions; instead, it would be developed through wider consultations with youths, professionals, workers, farmers and people from different walks of life, ensuring that diverse public voices are reflected in the proposal.

On the party’s budget priorities, he said, “We want a budget that is reform, investment- and employment-oriented.”

He stressed that economic reform was closely linked to political reform and argued that without structural political changes, meaningful economic improvement would not be possible.

He also alleged that the government had failed to uphold reform commitments made through the July charter and referendum.

He said the administration had not given due importance to the opposition’s views, which was evident during the first parliamentary session.

“The government bypassed many opposition discussions and passed laws in its own way,” he said, adding that such practices weaken democratic accountability.

Referring to the banking sector, Nahid alleged that unprecedented looting and corruption had taken place over the past 16 years.

He claimed that large loans were provided to certain individuals, groups and families, and that a significant portion of this money was later siphoned off abroad.

“Our simple expectation from the current government was that this culture would no longer continue in Bangladesh,” he said.

“Reforms are needed to prevent loan defaulting and money laundering. Those who laundered money must be brought to justice, and efforts must be made to bring back the stolen money.”

He also emphasised the importance of restoring confidence among local businesses before attracting foreign investment. “If local businesses do not have confidence in the current situation, foreign investment will not come,” he said.

Calling for priority to small and medium enterprises, he said large corporate groups often receive loans through political lobbying, while farmers and small businesses struggle to access bank financing.

Nahid further called for increased budget allocations for education, health and agriculture, with special emphasis on universities and research institutions.

He said Bangladesh is currently facing a crisis that no single government can resolve alone. “All political forces, the people, SMEs and businesses must be involved if we are to overcome this fragile economic situation,” he said.

NCP leaders Akhter Hossain, Hasnat Abdullah and Nasiruddin Patwary, along with Centre for Policy Dialogue Additional Research Director Towfiqul Islam Khan, among others, spoke at the event.