Key Points

Slamming the Yunus regime, the party said, “Responsibility for this situation lies squarely with the current leadership. Even after a year in power, the interim government has failed to establish political stability. Instead, fresh crises keep emerging. The same administration that branded itself as a ‘reformer’ has presided over the lowest economic growth in 20 years”.

The Awami League stressed that in recent months, unrest at universities, clashes between political groups, and the fresh incidents on campuses across the country have sent one loud and clear message that political stability remains elusive.

It added that the economy has become the biggest casualty of this instability, with its effects rippling through the lives of ordinary Bangladeshis.

The Awami League emphasised that economists have long argued that sustainable economic development is impossible without political stability within the country. It questioned where that stability exists and further asked how investors can be expected to trust the system when political leaders of the country come under attack and Section 144 (banning all forms of gatherings) has to be imposed at universities.

“The reality is that investors have adopted a wait-and-see policy. They want to observe which way the political winds blow. Because of this uncertainty, new projects are not being launched, and existing ones are at risk. As a result, job opportunities are shrinking and unemployment is rising,” the Awami League stated.

Citing the Bangladesh Bureau of Statistics, the party noted that the nation's GDP growth in the current fiscal year has fallen to 3.97 percent, the lowest figure in two decades. The Awami League said that this is not just a number but a reflection of the declining living standards of millions as slower growth led to fewer jobs, lower incomes, and rising poverty in Bangladesh.

Highlighting the recent violent clashes between activists of two political parties of the country– Jatiya Party (JaPa) and Gono Odhikar Parishad- in Kakrail, Dhaka, the party questioned the role of the military, which directly intervened and baton-charged civilian leaders. According to the Awami League, the Kakrail incident has triggered deep concern among both local and foreign investors.

“When the military steps in to solve political disputes, it raises doubts about the future of democratic institutions. By the end of June, private sector credit growth was only 6.4 per cent. This shows that businesses, wary of political risks, have lost interest in borrowing for new investment,” said the Awami League

“The country’s future depends on the political climate of the coming months. If violence and unrest continue, Bangladesh will slide into an even deeper crisis. Healing the economy will take time—but it takes no time at all to inflict new wounds,” it added.

- IANS