The National Economic Council (NEC) today approved a Taka 1,48,381 crore Revised Annual Development Programme (RADP) for the current fiscal year (FY18) downsizing the original ADP by 3.23 percent.
“The NEC today approved the Revised ADP making a cut of Taka 4,950.25 crore from the foreign sources portion,” said Planning Minister AHM Mustafa Kamal while briefing reporters after a NEC meeting today. Prime Minister Sheikh Hasina presided over the meeting at the NEC conference room at city’s Sher-e-Bangla Nagar, according to a news agency.
The Planning Minister said considering the organization’s own fund of Taka 9,213.39 crore, the overall RADP size now stood at Taka 1,57,594.39 crore of with Taka 96,331 crore coming from local sources while Taka 52,050 crore from foreign sources.
The portion from the organization’s own fund in the RADP also witnessed a Taka 1,540.19 crore cut to Taka 9,213.39 crore.
Kamal said the Prime Minister had directed him to consider the additional demands of various Ministries and Divisions and thus make additional allocations during the final formulation of the RADP.
He said there would be no additional fund constraints for those Ministries and Divisions.
The Prime Minister, he said, has directed the authorities concerned to avoid wasteful expenditures while revising any project, installing signboards in the project areas highlighting the briefs of any project before the local people and also directed the line Ministries to remain prepared to answer any query from the Planning Commission to avoid lengthy process in project approval.
He said overall macroeconomic situation of the country would fare better at the end of current fiscal compared to the last fiscal year as the major macroeconomic indicators like export earnings, revenue generation and inward remittance inflow are on the rise.
Replying to a question, he hoped that the GDP growth in the current year would exceed the fiscal target of 7.4 percent.
Secretary of the Implementation, Monitoring and Evaluation Division (IMED) Md Mofizul Islam said they made some 18 recommendations in the meeting that include round the clock monitoring by the line Ministries while implementation of projects, making afforestation in a planned way, not entrusting one project director with another project, and further improving the quality of road works.
Besides, he said tree plantation should be made along the road islands and road slopes and in coastal areas in a planned way through ensuring ecological balance.
Planning Division Secretary Md Ziaul Islam said the NEC meeting adopted a total of seven proposals including one on the overall number of projects. He informed that a total of 1,658 projects were included in the RADP including 1,365 investment projects, 143 technical assistance projects, 3 projects from the Japan Debt Cancellation Fund and 147 projects from the Organization’s Own Fund.
The NEC earlier approved a Taka 1,53,331.25 crore ADP for the current fiscal year with Taka 96,331.25 crore coming from the domestic resources while Taka 57,000 crore from the foreign resources.
According to the Planning Commission sources, the transport sector continued to enjoy the highest priority in the revised ADP followed by power sector, rural development and rural institution sector, physical planning, water supply and housing sector, education and religious sector, science, information and communication technology sector, health, nutrition, population and family planning sector, and agriculture sector.
Besides, the Revised ADP for the current fiscal year also incorporated a list of 30 projects to be implemented under Public Private Partnership (PPP) initiatives.
The data from the Implementation Monitoring and Evaluation Division (IMED) showed that the ADP implementation rate during the July-February period of the current fiscal year reached 38.01 percent with an overall expenditure of Taka 62,370 crore.
Of the overall expenditure, Taka 33,654 crore were spent from the GoB portion which was 34.94 percent of the overall GoB allocation, Taka 25,339 crore were spent from the project assistance which was 41.94 percent of the overall project assistance allocation while the rest of Taka 3,377 crore were spent from the organization’s own fund portion which was 46.03 percent of its allocation.