Proposed budget is a flight of fancy: AL

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Tuesday, 10 June 2008

The Awami League has termed the proposed budget for the upcoming fiscal year a "flight of fancy", although the party conceded it did contain some good elements, reports agency.

"There are some good points in the finance adviser's budget speech, but how it will be implement has to be carefully considered," said AL finance and planning secretary Prof Ali Ashraf in an instant reaction to the budget proposed by finance and planning adviser AB Mirza Azizul Islam.

"However, the government's biggest weakness is that it does not represent the people."

"I do not know how far it will be possible to implement this budget. After December, the responsibility will fall on an elected government."

"Implementing this budget will be a challenge for the new administration," cautioned Prof Ashraf.

The AL leader said his comments were an instant reaction from the party, and a formal reaction will be given on Wednesday.

The AL leader went on to say the proposed budget had lost touch with reality, and would fail to meet earlier promises to control inflation, ensure food security and remove the rich-poor divide.

"This budget does not reflect those concerns, and I do not see how it will solve these crucial problems in the future," he said.

Prof Ashraf pointed out that there were still no signs of commodity prices coming down, and that the annual development programme was too small in relation to the overall budget.

"If there is no physical infrastructure in the country there will be no investment, and if there is no investment unemployment will not come down and the country will become increasingly poor," he said.

Prof Ashraf also asked where the money would come from to finance the proposed budget, given it contained decreased income with increased expenditure.

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