Dhaka, May 1 (V7N) — Trade Adviser Sheikh Bashiruddin has criticized previous national budgets as being driven by a "festival of spending," alleging that unnecessary expenditures were made on various projects as if spending itself were the goal — likening it to celebrating Eid. He stressed that such expenditures lacked necessity and were prevalent across ministries.

He made these remarks on Wednesday while speaking at the meeting of the National Board of Revenue’s (NBR) Advisory Committee, held at Hotel Sonargaon in the capital.

“This year, the budget will be target-driven and just, with a focus on feasibility and actual implementation,” Bashiruddin stated, signaling a shift from what he called wasteful spending practices of the past.

Call for Tax Justice and Warning Against Criminalization of Politics

Sheikh Bashiruddin emphasized the importance of tax fairness, warning that a lack of equity in the tax system contributes to social "criminalization." He cautioned that when tax injustice prevails, it fosters environments where corrupt individuals rise to power repeatedly, leading to chaos and instability — a scenario, he said, the country has already witnessed.

"There was a time when identifying oneself as a businessperson was embarrassing," he remarked. "That’s because some members of the past parliament, who came from business backgrounds, ended up giving criminalization a near-constitutional legitimacy."

Criticism of Interest Rate Manipulation

Touching on economic mismanagement during what he referred to as "fascist regimes," Bashiruddin criticized past manipulation of interest rates through irregular policies. "These distortions caused serious harm to the economy — damage we’re still dealing with today," he added.

The adviser concluded by urging policymakers to prioritize responsible fiscal planning, equitable taxation, and institutional integrity in the upcoming budget to restore public and investor confidence.

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