Jatiya Nagorik Party (NCP) Convenor Nahid Islam stated on Tuesday that the proposed national budget for FY2025–26 does not fully reflect the aspirations for a new economic order or meaningful structural transformation.

Addressing a press conference on Tuesday afternoon at the party’s temporary office in Banglamotor, Dhaka, Nahid Islam offered his party’s formal reaction to the proposed budget.

“While the budget may be grounded in reality, it falls short in representing the aspirations for a new settlement—one that envisions economic transformation and equity,” Nahid stated.

He noted that the budget addresses some of the country’s immediate economic challenges, but fails to align with the broader vision of a more just and equitable society.

“The government is still operating within an old economic structure—one plagued by debt and plunder. As a result, this budget was crafted within those same constraints,” he said. “We do not believe this budget will significantly reduce unemployment or generate large-scale employment opportunities.”

NCP criticized the significant budget cut to the Ministry of Expatriates` Welfare and Overseas Employment, despite the vital role remittances play in stabilizing the country’s fragile economy.

“We had hoped for increased focus on expatriate workers, whose remittances are crucial. Instead, the ministry’s budget has been slashed by half. We strongly condemn this decision,” Nahid said.

The party expressed disappointment that small and medium-sized enterprises (SMEs) have not been adequately supported in the proposed budget. Additionally, it warned that increased taxation on e-commerce and digital transactions could hurt the growth of the digital economy.

“We expected incentives for SMEs, but there’s little here for them. Raising taxes on e-commerce and digital payments will only have a negative impact on the emerging digital economy,” he added.

NCP also criticized the provision allowing the whitening of black money, calling it unjustified and ineffective, especially in a post-regime change context.

“Offering incentives to legalize black money is neither just nor likely to succeed. This provision should be scrapped altogether,” Nahid asserted.

The party did, however, welcome the government’s allocation of Tk 405 crore for the families of those killed or injured during the July uprising.

“We appreciate this allocation. However, it must be used transparently and efficiently. The promises made to these families should be fulfilled without delay,” he said.

Nahid concluded by acknowledging the government’s effort in preparing the budget but reiterated that a clear vision or strategy for economic transformation remains absent.

Senior NCP leaders were present at the press conference.