Bangladesh approves over 2 trillion taka to implement annual development plan
May 21st, 2019 at 5:57 pm
Bangladesh approves over 2 trillion taka to implement annual development plan

Dhaka – The National Economic Council has approved more than 2 trillion taka for Bangladesh’s largest annual development plan in history prioritizing improvement of physical infrastructure in 2019-20 financial year, officials said on Tuesday.

The council headed by Prime Minister Sheikh Hasina at a meeting gave the approval, said planning minister Abdul Mannan.

Out of the total amount, nearly 35 percent of the fund will be mobilized from external resources and the rest from internal resources, the minister said after the meeting.

The ADP fund allocation for the upcoming year is 21.39 percent more than the revised one of the outgoing 2018-19 fiscal year, which was at 1.73 trillion taka, he said.

“In terms of sector-wise allocation, the transport sector received the highest ADP allocation of 528 billion taka crore or 26.05 percent of the original ADP,” he said.

He added that the sector was followed by power sector with Taka 260 billion or 12.83 percent of original ADP while 243 billion taka or 12 percent of the original ADP was proposed for physical planning, water supply and housing sector.

Mannan said out of the original ADP size, Taka 1.30 trillion will come from the government’s own resources while the remaining Taka 718 billion from project assistance.

Incorporating the autonomous bodies and corporation’s own fund of Taka 123.92 billion, the overall ADP size reached over 2.15 trillion, according to the meeting.

The new ADP for FY20 has some 1,475 projects including 1,358 investment projects, 116 technical assistance projects and one project from the Japan Debt Cancellation Fund (JFCF).

Besides, there are some 89 projects which would be implemented by the autonomous bodies and corporations, according to the state-run news agency Bangladesh Sangbad Sangstha.

The Planning Minister said the ADP allocation for the first time crossed the 2 trillion mark.

Prime Minister Sheikh Hasina asked the authorities concerned to give due importance on research and technical education, complete the projects within the stipulated timeframe, to find out the reasons for those projects which could not be completed within the stipulated timeframe and thus facilitate implementation of those, not acquire land without any valid reason for development projects as well as discourage acquiring arable land.