Printing money claim 'baseless', says PM's Adviser Titumir

Rashed Al Mahmud Titumir, economic and planning adviser to the prime minister, has dismissed claims of mass money-printing as mere “fables” as it prepares a budget aimed at repairing what officials describe as a “broken economy”.

Speaking at a pre-budget shadow parliament today, Titumir said the rumours had no connection with reality.

He said the government is now focusing on investment, employment generation and restoring stability to the economy after years of structural weaknesses.

He said the administration wants to move towards what it calls “economic democratisation” by reducing the influence of syndicates and monopolies, especially in the power and energy sectors.

The adviser accused the previous government of looting public money through large infrastructure projects financed by loans.

He also alleged that intimidation had been used in the past to manipulate economic data.

He said the current government would not interfere in the central bank and would ensure that all Bangladesh Bureau of Statistics (BBS) data remain open and accessible to the public.

According to him, reopening closed factories and improving access to finance for small businesses are among the government’s priorities as it tries to rebuild the financial strength of the middle class.

The government is also facing pressure from persistent inflation and global uncertainty.

Hassan Ahmed Chowdhury Kiron, chairman of Debate for Democracy, described the economy inherited by the current administration as “broken”.

He said rising fuel and transport costs, along with tensions in the Middle East, are putting additional pressure on the economy and ordinary people.

The upcoming national budget is expected to face a major challenge: maintaining fiscal discipline while addressing the urgent needs of people struggling with rising living costs and economic uncertainty.

Debaters from the National Institute of Textile Engineering and Research won the competition, defeating Maulana Bhashani University of Science and Technology.