Unemployment crisis sparked July uprising, but proposed budget offers no solution: NCP chief Nahid
“The vision of a society without discrimination that we talk about is not reflected in this budget," he said
The proposed national budget for the fiscal year 2025-26 lacks initiatives to tackle the unemployment crisis that triggered the 2024 July mass uprising, National Citizen Party (NCP) Convener Nahid Islam said today (3 June).
Speaking at a press conference at the party's office in Dhaka this afternoon, he said, "The July mass uprising originated from the growing unemployment problem. Young people had high hopes that this budget would address job creation and employment opportunities, but we did not see any concrete steps in that direction."
Claiming that unemployment has risen by 26 lakh over the past year, Nahid said the government has failed to adopt policies that would encourage investment and expand employment.
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"The dependency on the banking sector remains unchanged from previous years. We do not believe this budget will help solve the unemployment crisis or significantly boost job creation," he added.
Nahid also noted a lack of innovation in budget allocations for education, health, and science and technology sectors.
"The vision of a society without discrimination that we talk about is not reflected in this budget. Although the government has identified the current economic challenges, the budget does not offer proper solutions," he said.
"Despite efforts to keep the budget realistic, it falls short of the aspirations for structural reform and economic transformation."
The NCP chief criticised the government for continuing with the same economic model marked by corruption and debt dependency. "The legacy of the previous exploitative economic structure is still visible in this budget," he said.
He also expressed disappointment over the halving of the budget for the Ministry of Expatriates' Welfare and Overseas Employment.
"We had hoped the government would prioritise migrant workers, as their remittances are vital to our fragile economy. Slashing the expat ministry's budget is unacceptable," he stated.
Nahid also raised concerns about the lack of incentives for small and medium enterprises (SMEs) and the increased taxes on e-commerce and digital transactions, warning that it could negatively affect the country's digital economy.
He firmly opposed the provision allowing the whitening of black money, calling it an unethical policy with doubtful effectiveness. "Such opportunities should be removed, especially under a new regime," he added.
However, Nahid welcomed the government's decision to allocate Tk405 crore for the families of those martyred or injured during the July uprising.
"We appreciate this move and hope the funds are used properly to honour the commitments made to these families," he said.
Nahid acknowledged the government's efforts in drafting the budget but said it lacked a clear vision or strategy for economic transformation.
