In a stark rebuke of the Awami League-led government, Finance Adviser Dr. Salehuddin Ahmed accused the former regime of pushing Bangladesh’s financial sector to the brink through systemic corruption and mismanagement.
Presenting the Tk 7.9 trillion proposed national budget for FY2025–26 on Monday (June 2), Dr. Ahmed delivered his first budget speech via televised broadcast, bypassing parliamentary presentation due to the absence of a sitting legislature.
He cited alarming figures, revealing that non-performing loans (NPLs) surged from 10.11% in June 2023 to 20.20% by December 2024. “Despite efforts to disguise the severity through repeated loan rescheduling, recent reforms at Bangladesh Bank have exposed the financial rot,” he said.
Dr. Ahmed argued that the political shift on August 5, 2024, created an opportunity to implement long-overdue reforms. A new Bank Resolution Ordinance 2025 has been drafted to prevent insolvency and safeguard financial stability.
Three task forces have been set up to:
- Review banks’ asset quality;
- Enhance Bangladesh Bank’s regulatory enforcement;
- Recover misappropriated and laundered funds.
This marks the first budget reduction in the country’s history — down Tk 70 billion from the previous year — and is aimed at correcting “debt-fueled economic misdirection,” Dr. Ahmed noted.
Following public feedback, the budget will be finalized by the Advisory Council, led by Chief Adviser Professor Muhammad Yunus, before receiving presidential approval via ordinance. It will come into effect on July 1.
LND/BG
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