Published: 12:22 AM, 25 June 2026
Jamaat MP slams budget as debt-driven
Bangladesh Jamaat-e-Islami lawmaker Muhammad Nazibur Rahman on Wednesday criticised the proposed national budget, describing it as a "loan-dependent, people-unfriendly" and largely conventional financial plan, while calling for stronger parliamentary involvement in budget formulation and scrutiny. Taking part in the budget discussion in Parliament, he questioned the extent to which lawmakers are involved in preparing the national budget, arguing that their role remains largely confined to debating and approving proposals already prepared by bureaucrats.
"In countries practising parliamentary democracy, lawmakers have much greater involvement in budget preparation and review," the MP said, noting that in the United Kingdom, finance bills are examined by parliamentary committees before being placed before the House, UNB reports.
He proposed that budget proposals be sent to ministry-related standing committees for detailed scrutiny before final approval, saying such a process will strengthen parliamentary democracy and improve accountability.
Nazibur Rahman rejected claims by treasury bench members that the proposed budget is "historic" or "groundbreaking", arguing that it differed little from previous budgets apart from changes in figures and language.
"This budget is conventional, deceptive and anti-people. It is also a blueprint for next year's plunder," he said.
The lawmaker challenged the government's claim that the proposed budget is the largest in the country's history, arguing that inflation-adjusted comparisons painted a different picture. He instead described it as the country's most debt-reliant budget.
Referring to plans to finance a significant portion of the budget deficit through bank borrowing, he questioned the feasibility of securing over Tk 112,000 crore from domestic banks while paying interest rates of around 12 percent.
Nazibur Rahman also expressed concern about the health of the banking sector, citing reports of central bank support to struggling banks, and questioned whether the government has identified investment sectors capable of generating returns higher than the cost of borrowing.
On foreign loans, he said the budget lacks a clear strategy on how external financing will be secured and how conditions imposed by development partners will be managed.
Turning to taxation, the lawmaker argued that the burden of indirect taxes continues to fall disproportionately on ordinary citizens.
While acknowledging tax relief measures highlighted by the finance minister, he said indirect taxes, particularly Value Added Tax (VAT), affected rich and poor alike.
Nazibur Rahman criticised the expansion of VAT coverage to additional products, including liquefied petroleum gas (LPG) cylinders, arguing that such measures will increase pressure on lower-income households.
"The same amount of VAT is paid by a beggar and a millionaire when purchasing essential goods. How can that be called a pro-poor budget?" he asked.
The Jamaat MP also claimed that despite government assertions to the contrary, the proposed budget retained provisions allowing undisclosed money to be legalised through investments in the housing sector.
Citing a provision in the Finance Bill, he argued that the opportunity to whiten black money will ultimately disadvantage middle-class families seeking to purchase homes.
On healthcare, Nazibur Rahman acknowledged the proposal to waive the existing 5 percent advance tax on dialysis filter imports, which he said could reduce treatment costs by around Tk 800 per session.
However, he criticised the recent closure of a hospital that reportedly offered dialysis services at significantly lower rates, arguing that the tax relief will provide little benefit for the poorest patients.
The lawmaker also questioned the government's capacity to implement development projects efficiently, alleging that a substantial portion of Annual Development Programme (ADP) allocations failed to translate into actual development work.
He criticised delays in publishing appropriation accounts and argued that Parliament lacks adequate information to assess how development funds have been spent in recent years.
According to Nazibur Rahman, stronger accountability and reduced corruption could significantly lessen the country's reliance on borrowing.
He cited examples from the sugar industry and government procurement to argue that better management and oversight could improve efficiency and reduce losses.
The Jamaat MP also criticised the growing burden of interest payments in the national budget, arguing that excessive reliance on interest-based borrowing was inconsistent with the values of the country's Muslim-majority population.
He urged the government to explore alternative approaches, including expanding the role of Zakat-based poverty alleviation programmes under the supervision of leading Islamic scholars.
Nazibur Rahman further highlighted growing wealth inequality, claiming that a large share of national wealth remained concentrated in the hands of a small segment of the population.
He called for policies aimed at reducing inequality, lowering dependence on debt and strengthening social justice.
Welcoming the government's declaration of the "Jaal Jar, Jola Tar" (fishing rights for those who fish) principle in relation to rivers, canals and water bodies, the MP urged the government to provide the policy with a legal basis and prevent influential groups from monopolising public water resources.
He said the budget could become genuinely welfare-oriented only through stronger accountability, reduced corruption, enhanced parliamentary oversight, lower dependence on borrowing and more effective measures to address inequality.
