Govt looks to expedite ADP implementation to boost flow of money in economy
UNB
Publish: 10 Dec 2024, 05:36 PM
Dhaka,
Dec 10 (UNB)- The interim government has taken a move to expedite the
implementation of the annual development programme (ADP) aiming to induce money
flow in the economy.
To expedite the
implementation, the interim government has decided to put emphasis on the
projects which have been cleared by them since coming to office on August 8.
The government in
principle took the decision at a recently held ECNEC meeting chaired by the
Chief Adviser Professor Muhammad Yunus.
The decision came
following the record lowest ADP implementation rate of just 8 percent in the
first four months of the running 2024-25 fiscal.
According to the
Planning Commission sources, directives have been given to accelerate
implementation of the projects from now on.
Planning Adviser Dr
Wahiduddin Mahmud while briefing reporters about the recently held ECNEC
meeting had said that the approved ADP projects by this government would be
implemented quickly aiming to accelerate the implementation rate.
"By this way,
hopefully we will be able to increase the implementation rate by the end of the
running fiscal," he said.
But he said that the
implementation would be done in a proper way.
Planning Commission
sources said that the government put special emphasis on the good and
innovative projects which are corruption free initially, while implementation
of the projects have to be corruption free from any aspect.
The interim government
thinks that the previous Awami League government took a number of projects at
inflated value that resulted in irregularities during its implementation level,
including during the appointment of the contractor.
To prevent corruption
and irregularities in the development projects, from the very beginning the
interim government tried to stop wastage of public money, and corruption and
cut short the number of projects numbers for which the implementation rate
suffered a lot, causing a heavy toll on the money circulation in the economy.
"We will definitely
scrutinise the projects, we have taken the decision in principle that the good
projects that we are thinking about and which got new project directors will be
advanced in a speedy manner," the Planning Adviser said.
The interim government
that came into office on August 8 following the student-people uprising has
decided to cut short many development projects terming those as the politically
motivated ones.
The four months of the
running fiscal saw a record low of 8 percent implementation of the development
budget, according to the Implementation Monitoring and Evaluation Division
(IMED) of the Planning Ministry. The same period last year saw an execution
rate of 11.54%.
As per the information
from the Planning Commission the rate is 12-13 percent for those government
entities which implement projects from their own funding.
Specifically, for the
period from July to October of the current fiscal year, the government managed
to implement development projects worth Tk 21,978 crore, according to the IMED.
The Professor Muhammad
Yunus led interim government in its first Ecnec meeting had decided to reduce
the development budget.
The National Economic
Council (NEC) of the Awami League government approved the Annual Development
Programme (ADP) for the fiscal year of 2024-2025 with an outlay of Tk 265,000
crores.
The transport and
communication sector got the highest allocation of Tk 70, 687.75 crore (26.
67pc of budget allocation) in the ADP.
With 13,288.91 crore ADP
for autonomous bodies or corporations, the total size of ADP for 2024-2025
stood at Tk 278,288.91 crore.
END/UNB/FF/ssk