AB Party

Budget 2023-24: Financial debt-trap for bail out, not LDC graduation

Amar Bangladesh Party, AB Party, held a public meeting on Friday afternoon at Bijoy Square, close to its central office in Segunbagicha, to voice their anger as well as concern about the proposed budget declared on Thursday. Adv. Tajul Islam, Joint Convenor of AB Party, presided over the meeting which was followed a street rally, where Mojibur Rahman Monju, Member Secretary, and Barrister Asaduzzaman Fuaad, Joint Member Secretary of the party  spoke at the event, said a press release.

Mojibur Rahman Monju said, the budget had failed the nation. Working and middle class families have been struggling to feed their families and meet ends. Energy and power crisis made public life unbearable; irrigation, industrial production and manufacturing volume affected badly. Dollar crisis forced decline in imports culminating cost and delay in exports which would inevitably deteriorate already trained unemployment situation. Budget presented last evening failed to address any of the ongoing crisis, let alone any plan to curb inflation and price hike of daily commodities. 

Barrister Asaduzzaman Fuaad

Barrister Asaduzzaman Fuaad said, around USD 76 billion, equivalent to constructing 30 Padma bridge, of the budget was largely based on debt and deficit which have to be covered through loans from both domestic banks which are already in liquidity crisis as well as from international creditors like IMF/WB/ADB. For track record of revenue collections this year and of previous years, it is highly unlikely for the NBR to collect more than USD 30 billion, meaning almost 60% deficit budget is nothing but a blunder for the nation. It was all due to unprecedented level of corruption and loot on a biblical scale.

The press release said, Adv. Tajul Islam, while concluding, said that forcing every TIN holder, who are not lawfully taxpayers, to pay at least Tk 2000, around USD 20, to avail public service is nothing but a breach of social contract with the state. Forcing everyone to deposit a minimum sum with the government pension scheme is another tool for plunder by the unelected regime. Almost 60 per cent of electricity plants are unable to produce any power triggering power shortage across the country, yet so called quick rentals are not shut down, he added. Awami League has no credibility to rule over the country and must leave it to interim government at once.