Ruhul Kabir Rizvi, the Senior Joint Secretary General of the BNP, has stated that the country’s economy is currently in a state of turmoil.

He made this remark during a press conference at the BNP central office in Naya Paltan, Dhaka, on Tuesday, June 11.

Rizvi noted that every day, reports about the collapse of the country’s economy are being published in the media. Factors such as capital flight, hundi transactions, intentional loan defaults where massive bank loans are taken and not repaid for years, depreciation of the BDT against the USD, severe dollar shortages, decreases in expatriate income and remittances, abnormal overall inflation, and food price inflation have plunged people with limited and low incomes into deep crisis.

He stated that the banks have now collapsed due to undue advantages given to the ruling class. Loan defaulters are now celebrating. Ordinary bank customers are in distress, unable to withdraw necessary funds from their accounts before Eid, while bank staff have no work except to swat flies.

Mr. Rizvi further stated that the country is enveloped in the shadow of Awami fascism. All institutions of the state are nearly devastated under the authoritarian rule of the Awami regime. The impact of Awami brutality is evident everywhere, from the judiciary to every sector. The rule of law seems to have sacrificed itself to the blows of misrule. Former Jubo Dal president Saiful Alam Nirab is being kept in jail with new charges every time he is granted bail in previous cases. On June 5, 2024, the higher court ordered that no case should be filed against Nirab without a warrant when a writ petition is submitted, yet Saiful Alam Nirab has not been released despite getting bail in all cases. Under the influence of Awami League’s authoritarian governance, police decisions hold the highest authority. The police do not even heed the High Court’s directives.