Commerce Adviser Sheikh Bashir Uddin has attributed the recent rise in rice prices to what he described as excessive public spending on large infrastructure projects, particularly the Padma Bridge, arguing that the allocation of resources away from agriculture and irrigation has contributed to higher food costs.
Speaking at a meeting on the referendum at the Netrokona District Commissioner’s conference room on Monday evening, the adviser said that had the funds spent on the Padma Bridge been invested in the irrigation sector instead, rice prices could have fallen by at least Tk5 per kilogram.
“Instead of reducing prices, we are now seeing rice prices increase by Tk20 while the country is paying the debt burden of the Padma Bridge,” he said.
Sheikh Bashir Uddin further warned that unchecked public expenditure without corresponding income growth could create long-term fiscal risks.
He likened such a situation to a “tumour” in the state’s financial system, saying no government could remain stable under prolonged fiscal imbalance.
“Regardless of who is in power, citizens must consider whether the state has a surplus in expenditure when raising demands,” he said. “Otherwise, people will ultimately be deceived.”
The commerce adviser criticized the previous Sheikh Hasina-led government for undertaking what he termed “unnecessary mega projects,” alleging that several land ports built at significant cost remain largely non-functional.
“Thousands of crores of taka have already been spent, nearly 90% of the total project costs, but many of these facilities were not needed in the first place,” he said.
According to Sheikh Bashir Uddin, the previous government prioritized expanding expenditure through large projects without adequate planning to generate corresponding economic returns. “The main objective was to increase spending, not income,” he said, adding that the interim government’s focus is instead on sustaining income growth and maintaining fiscal balance.
Turning to the upcoming referendum, the adviser said a “yes” vote would restore the caretaker government system, which he argued would create conditions for a credible and fair election.
He claimed that in the previous three national elections, the prime minister, ministers and members of parliament were elected while remaining in office, questioning the legitimacy of the electoral process. “Whether people voted or not did not matter,” he said. “Governments remained in power through nominal elections.”
Sheikh Bashir Uddin urged voters to support the referendum if they wanted to prevent a repeat of such elections, saying that under a caretaker government, the party with genuine public support would come to power.