Biz BD News

The approval came from a meeting of the NEC held today with NEC Chairperson and Prime Minister Sheikh Hasina in the chair.

The Premier joined the meeting virtually from her official Ganobhaban residence while ministers, state ministers, secretaries concerned and planning commission members joined the meeting from the NEC Conference Room in the city’s Sher-e-Bangla Nagar and the Cabinet Room at Bangladesh Secretariat.

Briefing reporters after the meeting virtually, Planning Minister MA Mannan informed that the meeting also approved an allocation of Taka 11,468.95 crore for the autonomous bodies or corporations.

Incorporating the allocation of the autonomous bodies and corporations, the size of the overall ADP for the next fiscal year stood at Taka 2,36,793.09 crore.

Out of the original ADP size of Taka 2,25,324.14 crore, Taka 1,37,299.91 crore will come from the domestic sources while the rest of Taka 88,024.23 crore from the foreign sources.

Besides, Taka 6,717.48 crore will come from the domestic sources while Taka 4,751.47 crore from the foreign sources out of the total allocation of Taka 11,468.95 crore against the autonomous bodies or corporations.

The new ADP for fiscal year (FY22) witnesses a total of 1,426 projects including 1,308 investment projects and 118 technical assistance projects. Incorporating 89 projects against the autonomous bodies or corporations, the total number of projects stood at 1,515.

In the new ADP, Taka 4,147 crore has been earmarked as block allocation against the new projects of which Taka 2,893 crore will be mobilized from the local sources while Taka 1,254 crore as project loan.

A total of 596 unapproved new projects have been incorporated in the new ADP without any allocation while some 141 new unapproved projects have been included in the new ADP subject to availability of foreign funds.

There are 88 projects to be implemented under the Public Private Partnership (PPP) initiative while some 356 projects have been kept for completion by June 30, 2022.

Besides, some 73 projects which were kept for completion by June this year have been carry forwarded for completion by the next fiscal year (FY22).

The Planning Minister said Prime Minister Sheikh Hasina in the meeting asked the authorities concerned to complete those projects with highest priority which could not be completed due to the impacts of COVID-19 pandemic as well as to complete those projects speedily which are linked with the wellbeing of common people.

Mannan said the Premier also put emphasis on conducting more researches adding that separate fund should be earmarked for conducting researches especially in the health and agriculture sector.

He said the Prime Minister noted that the foreign consultants in development projects should be welcomed to such extent which is necessary, but foreign consultants should not be allowed in wholesale way. Rather, those overseas consultants should have to be recruited after proper scrutiny.

The Planning Minister said the economy of Bangladesh is performing well despite the shock of the pandemic due to the good performances in the agriculture sector and also for the domestic labour and the hard-earned remittances being sent by the expatriate Bangladeshis.

Referring to the recent attainment of $2,227 per capita income, Mannan said the per capita income has witnessed a jump of 9 percent despite the pandemic and this shows the resilience of the domestic economy.

He also informed that the current size of the country’s GDP is Taka 30,111 billion or $355.04 billion.

Answering to a question, the Planning Minister said the Ministry of Health has attained good capacity over the years in implementing development projects.

He said although there was a bit sloth in the operations of the Health Ministry when the COVID-19 hit the country last year, but it got momentum in its operations and subsequently made a pick up within the next one or two months after the attack of the pandemic.

“The death rate in Bangladesh due to COVID-19 is still much less compared to many developed countries of the world,” Mannan observed.

Replying to another question, he said the government wants to share those information with the public through media if those are not classified.

According to sector-wise allocation in the new ADP, the transport and communication sector received the highest allocation of Taka 61,631 crore (27.35%) followed by the power and energy sector the 2nd highest Taka 45,868 crore (20.36%) and the housing and community facilities sector the 3rd highest Taka 23,747 crore (10.54%).

Besides, the education sector received an allocation of Taka 23,178 crore (10.29%) followed by the health sector with Taka 17,307 crore (7.68%), local government and rural development sector with Taka 14,274 crore (6.34%), environment, climate change and water sector with Taka 8,526 crore (3.78%), the agriculture sector with Taka 7,665 crore (3.40%), industry and economic services sector with Taka 4,638 crore (2.06%) and the science and ICT sector with Taka 3,587 crore (1.59%).

In ministry-wise allocation, the Local Government Division received the highest allocation of Taka 33,896 crore followed by the Road Transport and Highways Division Taka 28,042 crore, the Power Division Taka 25,349 crore, Ministry of Science and Technology Taka 20,634 crore, Ministry of Railways Taka 13,558 crore, the Health Services Division Taka 13,000 crore, the Secondary and Higher Education Division Taka 11,920 crore, the Bridges Division Taka 9,813 crore, the Ministry of Primary and Mass Education Taka 8,022 crore and the Ministry of Primary and Mass Education Taka 6,871 crore.

Out of the 10 highest allocation recipient projects for the next fiscal year (FY22), the Rooppur Nuclear Power Plant project received an allocation of Taka 18,426.16 crore followed by Matarbari 2×600 MW ultra super critical coal powered power project with Taka 6,162 crore, Fourth Primary Education Development Project (PEDP-4) with Taka 5,053.98 crore, Dhaka Mass Rapid Transit Development Project with Taka 4,800 crore, Padma Rail Link, 1st revised, project with Taka 3,823.51 crore, Bangabandhu Sheikh Mujib Railway Bridge Construction project with Taka 3,580 crore, Padma Multipurpose Bridge Project, 2nd revised, with Taka 3,500 crore, Dhaka-Ashulia Elevated Expressway project with Taka 3,227.20 crore, Expansion and strengthening of power system network under DPDC area with Taka 3,051.11 crore and Hazrat Shahjalal International Airport Expansion, 1st phase, 1st revised with Taka 2,827.52 crore.