After 20 Years, BNP Returns to the Budget Bench to Begin a New Chapter

Back to the Budget Bench: BNP Returns After Two Decades

After nearly 20 years away from direct budget-making, the Bangladesh Nationalist Party (BNP) is set to resume one of the most consequential responsibilities of governance — presenting the national budget. The proposed budget for fiscal year 2026–27, scheduled to be unveiled in parliament on Thursday, represents not only a new economic roadmap but also the revival of a political and fiscal legacy associated with some of Bangladesh’s most significant economic reforms.

Finance and Planning Minister Amir Khasru Mahmud Chowdhury is expected to place a Tk938,000 crore budget before the Jatiya Sangsad. The occasion carries particular significance for the BNP, which last presented a national budget on 6 June 2006 under the stewardship of the late M Saifur Rahman, one of Bangladesh’s most influential finance ministers.

Legacy of Reform

The BNP’s fiscal legacy is closely tied to the career of M Saifur Rahman, a towering figure in Bangladesh’s economic history. Widely credited with championing market-oriented reforms, trade liberalisation and fiscal modernisation, he played a central role in integrating Bangladesh into the global economy.

Saifur Rahman presented 12 national budgets during his political career, a record that remains one of the most notable achievements in the country’s parliamentary history. Many economists continue to view his reforms as laying the groundwork for Bangladesh’s long-term economic transformation.

Among his landmark initiatives was the introduction of Value Added Tax (VAT), which modernised the tax system and strengthened government revenue collection. He also pursued structural reforms aimed at reducing dependence on foreign aid and encouraging private-sector-led growth.

In 2003, he introduced a fully market-based exchange rate regime for the taka against the US dollar, a move widely regarded at the time as both bold and forward-looking.

The BNP’s Budgetary Journey

The party’s association with national budgets dates back to the post-independence era. BNP founder and former president Ziaur Rahman presented Bangladesh’s first national budget on 26 June 1976 and subsequently delivered two more budgets before appointing Mirza Nurul Huda as finance minister in 1979.

Following Ziaur Rahman’s assassination, Saifur Rahman emerged as the principal architect of the party’s economic policies. His first budget, for FY1980–81, amounted to Tk3,768 crore.

When the BNP returned to power in 1991, he resumed his role as finance minister and presented a Tk16,373 crore budget, reflecting the country’s expanding economic aspirations. Over the following years, he spearheaded reforms that helped reshape Bangladesh’s economic framework.

His final budget, presented in 2006, stood at Tk69,740 crore and cemented his record of 12 budget presentations in parliament.

Years Away From Power

Following the end of the BNP government in 2006, Bangladesh entered a prolonged period of political transition. The caretaker administration presented two budgets before the Awami League assumed office in 2009.

During the Awami League era, former finance minister Abul Maal Abdul Muhith presented 10 consecutive budgets between FY2009–10 and FY2018–19. Although Muhith also reached a total of 12 budget presentations, Saifur Rahman retained the distinction of being the first to achieve the milestone.

The political landscape changed dramatically after the student-led mass uprising of July 2024, which led to the fall of the Awami League government. An interim administration subsequently governed the country for nearly 18 months.

During that period, former finance adviser Dr Salehuddin Ahmed presented the FY2025–26 budget worth Tk790,000 crore. Notably, he had earlier served as governor of Bangladesh Bank during Saifur Rahman’s tenure as finance minister.

A New Chapter Under Amir Khasru

The BNP returned to power following its victory in the 13th National Parliamentary Election on 12 February 2026. Five days later, Amir Khasru Mahmud Chowdhury assumed charge as finance and planning minister.

A former commerce minister and member of the BNP National Standing Committee, Amir Khasru now faces the challenge of steering the economy through a period marked by both opportunities and uncertainties.

Less than four months into office, he is preparing to present one of the largest budgets in Bangladesh’s history. The proposed Tk938,000 crore spending plan is expected to prioritise economic recovery, investment, employment generation, inflation control and sustainable long-term growth.

More Than a Budget

The significance of the FY2026–27 budget extends beyond its fiscal allocations. It symbolises the BNP’s return to economic policymaking after nearly two decades and reconnects the party with a tradition established by Ziaur Rahman and strengthened by M Saifur Rahman.

With the presentation of the FY2026–27 budget, the BNP’s total number of national budgets since independence will rise to 17, compared with 25 budgets presented under Awami League governments.

While political parties may debate records and achievements, economists generally agree that many of the reforms introduced during Saifur Rahman’s tenure continue to shape Bangladesh’s fiscal and financial architecture. Several of his policy initiatives remain integral to the country’s economic management framework.

As Finance Minister Amir Khasru Mahmud Chowdhury rises in parliament to present the budget, he will not only unveil the government’s financial blueprint for the coming year but also mark the BNP’s return to a role it once played prominently in shaping Bangladesh’s economic future.