‘No mass money printing’

Rashed Al Mahmud Titumir, Economic and Planning Adviser to the Prime Minister, has dismissed rumours of mass money-printing as unfounded “fables” as the government prepares a budget aimed at reviving what officials describe as a “broken economy.”

Speaking at a pre-budget shadow parliament session on Saturday, Titumir said the claims had no basis in reality.

He emphasised that the government is prioritising investment, job creation, and stabilising the economy after years of structural weaknesses.

Titumir outlined the administration’s vision for “economic democratisation,” aimed at reducing the influence of syndicates and monopolies, particularly in the power and energy sectors.

He criticised the previous government for misusing public funds through large infrastructure projects financed by loans and alleged that economic data had been manipulated in the past through intimidation.

The adviser assured that the current government would maintain the independence of the central bank and ensure that all data from the Bangladesh Bureau of Statistics (BBS) remains transparent and publicly accessible.

Among the government’s key priorities are reopening closed factories and improving access to finance for small businesses, measures intended to rebuild the financial strength of the middle class.

Officials are also grappling with persistent inflation and global uncertainties that continue to affect the economy.

Hassan Ahmed Chowdhury Kiron, Chairman of Debate for Democracy, described the economy inherited by the current administration as “broken,” noting that rising fuel and transport costs, coupled with tensions in the Middle East, are adding further pressure on ordinary citizens.

The forthcoming national budget faces a major challenge: balancing fiscal discipline with the urgent need to address the hardships faced by citizens due to rising living costs and economic instability.

In a related note, the debating team from the National Institute of Textile Engineering and Research emerged victorious in the shadow parliament competition, defeating Maulana Bhashani University of Science and Technology.