No Expenditure Festival: ‘Govt plans realistic FY26 budget’
Staff Reporter :
Commerce Adviser Sk. Bashir Uddin has said the interim government’s key priority is to frame a realistic and justice-oriented national budget for the upcoming fiscal year (FY2025-26), moving away from past expenditure-heavy frameworks.
“Our aim is not to design a budget centred on high spending, but one that is purposeful and grounded in reality,” the Adviser said on Wednesday while addressing the 45th Consultative Committee meeting of the National Board of Revenue (NBR), held in the capital ahead of the next budget announcement.
Finance Adviser Dr. Salehuddin Ahmed attended as chief guest, with Executive Chairman of BEZA and BIDA, Chowdhury Ashik Mahmud Bin Harun, as guest of honour.
The meeting was chaired by NBR Chairman Md. Abdur Rahman Khan, while Bangladesh Trade and Tariff Commission Chairman Dr. Moinul Khan also spoke. FBCCI Administrator Md. Hafizur Rahman moderated the session.
Adviser Bashir criticised the previous Awami League-led government, accusing it of promoting a “festival of expenditures” during budget planning and fostering inefficiencies across ministries. Drawing from ministries currently under his oversight, he cited several instances of unjustified spending as examples of fiscal mismanagement.
Urging greater accountability from the private sector, Bashir called on businesses to evaluate their own tax compliance before attributing the country’s low tax-to-GDP ratio to government shortcomings. He suggested that the business community undertake internal audits to identify compliance gaps and improve tax discipline.
He also stressed the importance of a collaborative platform that enables direct and constructive dialogue between the government and business leaders to shape equitable tax policies. Highlighting persistent issues such as Advance Tax (AT), Advance Income Tax (AIT), refunds, and bond complexities, Bashir called for an integrated and mature problem-solving approach.
“Building mutual trust between the NBR and the business community is essential to establishing tax justice,” he said. Without such trust, he warned, the risk of broader social criminalisation increases.
Bashir further encouraged the election of capable and ethical representatives to trade bodies, viewing it as vital to creating a just and inclusive society.
Speaking at the event, Executive Chairman of BEZA and BIDA, Chowdhury Ashik Mahmud Bin Harun, emphasised the pivotal role of private investment in tackling the country’s employment challenges. He underscored that the interim government expects businesses to drive economic activity, rather than depend solely on government intervention.
Ashik added that upcoming reforms-such as the National Single Window and the Authorised Economic Operator (AEO) framework-will significantly ease trade and business operations. He encouraged the business community to submit well-structured proposals for deeper structural reforms.
NBR Chairman Md. Abdur Rahman Khan stated that the forthcoming budget will prioritise improving the ease of doing business. The focus will be on reducing operational bottlenecks and enhancing trust between the revenue authority and the private sector, he said, with digitisation playing a central role.
He also noted that the government is exploring ways to lessen the burden on compliant taxpayers through rationalisation efforts, acknowledging their contribution to the revenue system.
Khan reaffirmed the NBR’s commitment to tackling revenue leakages and ensuring that the interim administration remains responsive to urgent concerns. He concluded by noting that a unified VAT rate could be considered, provided the private sector engages constructively with the reform agenda.