Titumir rejects 'money printing' claims, pledges focus on jobs and investment
He noted that rising global commodity prices and increased import costs had intensified economic challenges, while higher domestic fuel prices had driven up transport, agricultural and production expenses.
Professor Rashed Al Mahmud Titumir, adviser to the prime minister on finance and planning, has dismissed claims that the government is printing money, labelling the allegations as "nothing more than rumours" with no basis in reality.
Speaking as the chief guest at a pre-budget shadow parliament debate held at the Bangladesh Film Development Corporation (FDC) today (16 May), Prof Titumir said the government is giving the "highest priority" to investment and employment generation, while also taking special measures to reopen closed factories.
The event, titled "Controlling inflation will be the main challenge of the upcoming budget", was organised by Debate for Democracy.
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Titumir also said businesses had struggled to access capital under the previous administration, accusing the fallen Awami League government of repeatedly interfering in the central bank.
The adviser alleged that the electricity and energy sectors had previously been handed over to a small number of companies, but said that the current administration did not intend to allow any sector to fall under the control of syndicates.
"Rather, this government wants to involve people through the democratisation of the economy," he added.
The adviser further accused the previous government of borrowing heavily in the name of infrastructure development while engaging in large-scale corruption.
Presiding over the programme, the organisation's Chairman Hasan Ahmed Chowdhury Kiron said that the present government had inherited a fragile economy and was now facing additional pressure from instability in the Middle East.
He noted that rising global commodity prices and increased import costs had intensified economic challenges, while higher domestic fuel prices had driven up transport, agricultural and production expenses.
"As production costs rise, commodity prices are also increasing, causing hardship for people with limited and lower middle-class incomes," Kiron said.
He added that restoring economic discipline and controlling inflation would be among the biggest challenges for the upcoming national budget.
In the shadow parliament debate, the National Institute of Textile Engineering and Research (NITER) team defeated Mawlana Bhashani Science and Technology University to secure victory.
