Rizvi blames ‘Hasinomics’ for loan defaults, graft

Bangla Press Desk:  BNP Senior Joint Secretary General Advocate Ruhul Kabir Rizvi has alleged that an artificial economic model named ‘Hasinomics’ dominated Bangladesh over the past 15 years, taking default loans and corruption to an alarming level.

He made the remark on Thursday (27 November) at a discussion held at the National Press Club to mark the 35th death anniversary of Dr Shamsul Alam Khan Milon, a martyr of the 1990 student uprising. The event was organised by the ’90 DUCSU and All-Party Student Unity. 

Criticising the former government’s economic policies, he said, “Although the term contains the word economics, what actually happened under Sheikh Hasina’s 15 and a half years of rule was ‘Hasinomics’.

“You could take loans from banks without repaying them—that was the policy. People were even given the scope to take fresh loans without clearing old ones,” he stated.

He claimed the country is now burdened with Tk6.5 lakh crore in default loans. 

According to him, the new government must take strong measures to rescue the economy from this state, though the interim government has taken some initiatives.

“On one hand there are steps being taken, but on the other hand, things are collapsing. Employment is not increasing, joblessness is rising—the government needs to address these issues,” he added.

Referring to the recent controversy over alleged irregularities involving gold in bank vaults, Rizvi questioned how large quantities of gold could emerge without accountability, suggesting the matter required investigation.

The BNP spokesperson further alleged that the declared wealth of Sheikh Hasina does not align with the current controversy. “She once declared having gold worth Tk18-19 lakh, but now hundreds of crores worth of gold is surfacing—this needs investigation,” he said.

He accused the former prime minister of exerting undue influence over the judiciary, law enforcement, and administrative institutions—describing her tenure as “authoritarian” in nature.

Rizvi also reiterated the BNP’s longstanding claim that Khaleda Zia’s poor health resulted from deliberate actions taken while she was under government custody.

He said both the Ershad and Sheikh Hasina governments undermined democratic practices and allowed corruption to become institutionalised.

The discussion was presided over by BNP Chairperson’s adviser and former minister Amanullah Aman and moderated by Joint Secretary General Khairul Kabir Khokon. BNP leaders Nazrul Islam Khan, Nazim Uddin Alam, Mostafizur Rahman Babul and others also spoke at the event.

BP/SP