Proposed budget lacks vision for rebuilding Bangladesh: Jamaat

Bangladesh Jamaat-e-Islami has criticized the proposed national budget for the fiscal year 2025–26 as “conventional and uninspired,” stating that it fails to reflect the spirit of rebuilding the nation in the aftermath of the July uprising.

In an immediate reaction to the budget on Monday night, Jamaat's Acting Secretary General, Maulana ATM Masum, issued a statement to the media, expressing disappointment over the lack of innovation in the proposed financial plan. “The proposed budget is barely distinguishable from previous ones and offers no fresh perspective,” he said.

The statement pointed out the absence of any concrete plan to recover laundered and illegally acquired funds held abroad, calling it a serious shortfall that would disappoint the nation. It also condemned the expanded scope for legalizing undisclosed (black) money, terming it “unjustifiable” and urging the government to abandon such measures.

Jamaat questioned the feasibility of the National Board of Revenue’s (NBR) collection target of BDT 4.99 trillion, noting that a similar goal in the previous year remained unmet. “Revenue collection is likely to remain a significant challenge again this year,” the party said.

The statement also criticized the increased reliance on foreign financing. While the government has set a revenue target of BDT 5.64 trillion, the proposed budget includes a deficit of BDT 2.66 trillion, a substantial portion of which is expected to be financed from external sources.

Jamaat noted that the budget emphasizes boosting revenues through indirect taxation rather than expanding direct taxes. It warned that the increased import duty on yarn would raise production costs in the ready-made garment (RMG) sector, potentially hurting export competitiveness.

Despite its criticisms, Jamaat acknowledged the interim government’s allocation for the treatment, social protection, and financial support of those injured in the July uprising. Maulana Masum welcomed the initiative but urged the government to increase the allocation to ensure broader support.