Awami League raises alarm over deepening economic crisis in Bangladesh

Dhaka, Oct 11 Bangladesh’s Awami League on Saturday expressed concern over the deteriorating condition of the country’s ready-made garment industry, stating that what was once considered the pride of the nation is now driving countless families into poverty.

The party stated that the factories that earlier kept the country’s economy alive are closing one after another, leaving thousands of garment workers jobless and out on the streets, struggling to find any work to survive.

Slamming the Muhammad Yunus-led interim government for the failed leadership, direction, or stability, the Awami League stated that instead of restoring confidence, his policies have pushed the economy into paralysis.

“Factories are closing, investors have lost faith, and the government seems either unwilling or unable to act. Under Yunus’s rule, Bangladesh is not just facing an economic downturn; it’s facing a crisis of survival, where the line between the working class and the poor is disappearing altogether,” the party stressed.

According to the Awami League, rather than focusing on rebuilding the economy, the Yunus regime turned to political revenge with businesses perceived to be linked to the party were investigated, harassed, or quietly pushed out.

“In the process, hundreds of factories closed, and thousands of workers lost their jobs. What could have been a time of recovery turned into one of the worst industrial slowdowns in years,” it asserted.

The party highlighted that across Bangladesh, tens of thousands of former factory workers are still waiting for their unpaid wages, months after their factories shut down. In places like Gazipur, Narayanganj, and Savar, it said, workers gather daily outside shuttered gates, clutching appointment letters that have lost all meaning.

Emphasising that these are not isolated stories, the Awami League said that they represent the face of Yunus’ failed economic experiment.

“Many of those who lost stable jobs have been pushed into the informal economy, taking up work as day labourers, rickshaw pullers, or street vendors, earning barely enough to survive. For educated youths, the situation is even worse; degrees mean nothing when there are no jobs to be found. Hope is dying quietly in the hearts of Bangladesh’s young generation,” the Awami League noted.

“Under Muhammad Yunus, Bangladesh’s greatest resource, its hardworking people, has been betrayed. The promise of growth has turned into a nightmare of poverty, and the nation’s once-bright future now hangs by a thread,” it added

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