End of fascist rule, beginning of new Bangladesh with victory of mass uprising: President Shahabuddin

Bangladesh has entered a new political chapter after the end of a decade and a half of one-party and authoritarian rule, President Mohammed Shahabuddin has said. He said that the historic mass uprising of the students and the masses in July-August 2024 will be a unique milestone in the democratic history of the country. The journey of a new democratic Bangladesh free from fascism has begun as a result of the sacrifice and struggle of the people through this movement.

The President said these things in his address to the session of the 13th National Parliament on Thursday (March 12). He congratulated the new government formed under the leadership of newly elected Prime Minister Tarique Rahman and expressed hope that the new government will play an important role in establishing democracy, good governance and the rule of law. The President mentioned that the journey of the current parliament started through free and fair elections held with the spontaneous participation of the people is a positive example of the country's democratic progress.

He said that thousands of people sacrificed their lives and countless people were seriously injured in the 2024 mass uprising. According to official data, about 30 thousand people were injured or permanently disabled, and more than 500 people lost their eyesight. To ensure the treatment of the injured, the government has already issued health cards to 1,243 people and 137 seriously injured people have been sent abroad for better treatment.

The President further said that initiatives have been taken to build memorials in every district of the country in memory of the martyrs of the movement. At the same time, work is underway to establish a "July Mass Uprising Memorial Museum" in the capital Dhaka, which will highlight the memories of this historic movement for future generations.

Wishing the new government all the best, the President said that the long political struggle of former Prime Minister Khaleda Zia to establish and protect democracy in Bangladesh will be remembered as an important contribution in the political history of the country. He also mentioned his uncompromising role in establishing parliamentary democracy.

In his speech, the President also expressed optimism about the country's economic situation. He said that the economy has stabilized significantly in the fiscal year 2024-25 compared to the fiscal year 2023-24. Inflation has come down to 8.58 percent in January 2026 and is expected to decrease further in the future. In addition, the country's foreign exchange reserves have increased to 34.78 billion US dollars as of February 19, 2026.

The President also highlighted the government's strict steps to restore good governance in the banking sector and eliminate irregularities in the financial sector. He said that an economic reform commission will be formed to control defaulted loans and restore public confidence in the banking sector. At the same time, initiatives have been taken to form a separate reform commission to investigate past irregularities in the capital market and bring transparency to the market.

According to the President, Bangladesh will move forward on the path of sustainable development and prosperity through political stability, economic reforms and strengthening democratic institutions.