AL looted ‘Tk 900b in 15 years’: Fakhrul
Staff Reporter :
The main opposition party-BNP on Friday alleged that the the Awami League government has destroyed the national economy by widespread plundering and siphoning money abroad.
“The economy of the country is on the brink of bankruptcy under the guise of development of the AL government.
The economy is in huge anarchy following the Awami League’s assumption of power in 2009,” BNP Secretary General Mirza Fakhrul Islam Alamgir made these remarks during a press conference at the BNP chairperson’s office in Gulshan, in the capital on the state of the country’s economy.
“The economy of the country is now in catastrophe due to extreme mismanagement in the banking sector, unchecked corruption, and siphoning off huge money abroad.
It is completely a hollow economy. In fact, they (the ruling AL) plundered the country’s resources and siphoned off their money to foreign countries,” BNP Secretary General said.
“Every major economic indicators of the country, including reserves, remittances, current account deficit, fiscal deficit, currency depreciation and inflation have drawn a miserable image.
They have pushed the nation’s overall economy towards calamity,” Mirza Fakhrul said.
Citing available statistics and various media reports, the BNP leader said about Tk90,000 crores have been plundered from the banking and other sectors since 2009.
“Two societies have been created in Bangladesh–one is a very rich class of people who go abroad, wear expensive dresses, and use luxurious cars like BMW and Mercedes while the other is a class of people who beg and cannot manage their daily food–due to the growing inequality. That is the reality,” Mirza Fakhrul said.
“They (AL govt) have no new investment in the country. So, no new employment opportunities have been created here.
As a result, the poor remain poor and the income disparity and inequality are increasing day by day,” he said.
“Accountability is the key to ensuring discipline in the financial sector and rule of law in the country.
Since the current fascist Awami League government has no accountability to the people, the country’s economy, politics, culture, and the judiciary are not safe in the hands of the AL,” he said.
“National economy is being ruined because of the government’s wrong policy and political weakness and all-pervasive-plundering.
The latest example of it is unlawfully giving Janata Bank’s Tk22,000 crore to a special quarter who are willful loan defaulters under various names in political interests,” Mirza Fakhrul said.
He said the biggest loan scam in the history of Bangladesh happened in Islami Bank as a big industrial group took a loan of Tk 30,000 crores from the bank in the name of an anonymous non-existent fake company.
“But the group is eligible to take a maximum loan of Tk 215 crore.
There have been reports in the media that this group has siphoned off at least one billion US dollars abroad.”
The BNP leader said looting money from banks in the name of loans is now the easiest thing in Bangladesh as some people take loans abusing the banking system and siphon off the money abroad without repaying loans for years using their political identities.
Stating that foreign banks usually come to a country where the economy prospers, Fakhrul said though 13 local private banks have been established in Bangladesh since 2009, the foreign banks have not shown interest in working here.
He said that more than Tk one lakh crore has been plundered from the power sector in the name of quick rental power plant.
The BNP Secretary General expressed anxiety saying inflation is growing while the import of necessary goods, raw materials and machines and equipment is being hampered for lack of dollars, slowing down the pace of the economy.
He expressed the concern about the relentless decline in foreign exchange reserves, referring to Bangladesh Bank data which indicates reserves at $21 billion.
The IMF, however, reports current net reserves at $17 billion.
He noted also that the remittance has been decreasing for three consecutive months. In September, a 41-month low of $1.34 billion was recorded.
He criticised the AL government’s approach to development, which has resulted in a crushing national debt of approximately Tk20 lakh crores.
Mirza Fakhrul said Bangladesh was second among the SAARC countries during the BNP rule but it placed fifth now.
He said the dollar crisis is becoming acute as the government and their illegitimate beneficiaries have turned the country into a haven of corruption, plundering, and siphoning off money abroad.
“Faridpur District unit Chhatra Legue President has siphoned off Tk 2000 crore abroad.
If one district unit president becomes owner of Tk 2000 crore then huge number of Chhatra League leaders become owners of how much money?” he questioned.
Mirza Fakhrul called upon the people to participate in the ongoing movement for the restoration of democracy and for establishing a truly accountable democratic government in Bangladesh by holding a free, fair, inclusive and participatory election under an neutral caretaker government.
“Only a democratic and accountable government can recover the ruined economy and the banking sector and establish sustainable development and the rule of law,” the BNP leader said.
