Three days ahead of the national elections, the interim government led by Nobel laureate Prof. Dr. Muhammad Yunus is under fire for allegedly plundering public resources through a flurry of last-minute project approvals, opaque foreign deals, and nepotistic allocations.
Critics, including economists and transparency advocates, argue that these actions not only smack of corruption but also saddle the incoming elected administration with massive debts and long-term commitments, exacerbating Bangladesh’s economic woes amid rising inflation and regional disparities, according to a report by the daily Prothom Alo.
The allegations draw from recent reports highlighting over 135 new projects approved during the regime’s 18-month tenure, totalling over Tk2,00,000 crore, many of which prioritise certain districts and foreign interests while ignoring urgent needs like job creation and health infrastructure. This comes as the government grapples with a legacy of debt from the previous Awami League administration, which left behind Tk18,00,000 crore in loans.
Hasty Approvals
In the closing weeks of its term, the Yunus administration approved 64 projects worth Tk1,06,993 crore, including 40 new ones costing Tk79,356 crore. These were greenlit by the Executive Committee of the National Economic Council (Ecnec) in meetings held as late as January 25, 2026, just days before the polls.
Notable examples include the Dhaka WASA Training and Research Academy, a Tk721 crore loan-dependent project funded partly by a Tk571 crore loan from South Korea, despite WASA’s existing Tk24,000 crore debt burden.
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Other approvals encompass rural infrastructure in districts like Cumilla (Tk1,500 crore), Satkhira (Tk1,930 crore), Sylhet (Tk1,952 crore), and Patuakhali (Tk400 crore). Analysts suggest these could influence elections by benefiting specific political allies or regions.
Transparency International Bangladesh (TIB) Executive Director Iftekharuzzaman condemned the moves, stating: “The interim government should not go beyond routine work. These projects have political connections and could influence election outcomes, which is unethical and a failure.”
Nepotism, Regional Favouritism Exposed
A stark pattern of nepotism emerges in project allocations, with Chittagong receiving disproportionate fundingโTk76,274 crore for 12 projects, accounting for 38% of new expenditures. This includes major initiatives like the Eastern Refinery modernisation (Tk35,465 crore), Chattogram Port’s Bay Terminal expansion (Tk13,525 crore), and a Karnaphuli River bridge (Tk11,560 crore).
Planning Adviser Wahiduddin Mahmud justified the focus, citing needs for better water, drainage, and export infrastructure in Chattogram.
However, critics link approvals to officials’ personal ties: for instance, a Satkhira project was pushed by Cabinet Secretary Sheikh Abdur Rashid, a native of the district, while Cumilla’s infrastructure boost coincides with former Local Government Adviser Asif Mahmud Sajeeb Bhuyain’s influence, whose party has electoral stakes there.
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No specific projects were allocated to 21 districts, widening regional disparities. Economist KAS Murshid, who led a task force on inclusive development, lamented, “Inclusive development is complex, and this government hasn’t achieved much. Some recommendations are in process, but overall, it’s lacking.”
Opaque Foreign Deals, Infrastructure Giveaways
The regime’s dealings with foreign entities have drawn sharp rebukes for lacking competitive bidding and transparency. Key examples include concessions for Chattogram Port terminals: a potential deal with UAE’s DP World for the New Mooring Container Terminal (sparking worker strikes), a 33-year monopoly to Denmark’s APM Terminals for the $550 million Laldia Terminal, and a 22-year contract to Switzerland’s Medlog SA for Pangaon River Port.
Additionally, Biman Bangladesh Airlines’ rushed purchase of 14 Boeing aircraft, backed by sovereign guarantees, bypassed comparisons with competitors like Airbus, potentially inflating costs. A defense industrial zone in Mirsarai, Chattogram (850 acres), repurposed from a cancelled Indian project, is criticised for shifting focus from economic to military priorities without a mandate.
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These moves are seen as plundering public funds by committing to unvetted long-term obligations. Economist Debapriya Bhattacharya called it a “fundamental breach of principle,” warning it makes life “immensely difficult” for the next government.
Economic Perils And Warnings From Experts
Amidst a revenue shortfall and high inflation, these decisions risk fiscal suicide. A proposed 142% public servant pay hike could balloon the wage bill by over Tk1,06,000 crore annually, while energy dealsโlike five LNG cargoes from Aramco and a Tk25,592 crore hike for the Rooppur Nuclear Plantโdrain reserves.
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The regime’s failure to prioritise job creation is glaring: no dedicated employment programs were launched, despite Yunus’s zero-unemployment vision. Instead, factory closures and job losses mounted over 18 months.
Prof. Anu Muhammad decried the lack of transparency, echoing autocratic tendencies of the past.
Echoes In Recent Media Reports
These concerns mirror a report published by The Daily Star on February 1, 2026, titled “The Interimโs Last-Minute Deals and the Economic Perils Ahead.” In it, economist Dr. Birupaksha Paul slammed the government for impulsive actions that favor foreign interests, erode public trust, and create “landmines” for successors. He highlighted the same port deals, Boeing procurement, and defense zone as examples of corruption and anti-economic shifts, urging democratic scrutiny to prevent long-term damage.
As voters head to the polls, these allegations underscore demands for accountability, with calls for the next government to review and potentially scrap these contentious commitments to safeguard Bangladesh’s economic future.
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