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NEC approves revised ADP of Tk 22,500cr PDF Print E-mail
Wednesday, 26 March 2008

The National Economic Council Monday revised down the Annual Development Programme (ADP) by Tk 4,000 crore to Tk 22,500 crore for the fiscal year 2007-08, giving a focus on five important sectors with 72 percent allocations, reports UNB.

Earlier, a meeting of the ECNEC also approved eight development projects involving Tk 2,873 crore, including Tk 706 crore in project aid.

Finance and Planning Adviser Dr Mirza Azizul Islam chaired the meetings at the NEC conference room in absence of Chief Adviser Dr Fakhruddin Ahmed who was scheduled to preside over the meetings.

He said the Chief Adviser fell sick and asked him to administer the meetings. The NEC downsized the ADP from the original allocation of Tk 26,500 crore while the ECNEC approved the eight development projects from 13 considered ones.

"The ADP cut won''t have any adverse impact on the overall economy," Dr Aziz told a press briefing immediately after the meeting, adding that the revised ADP would even be higher than the historical level of Tk 17,000 to Tk 18,000 crore a year.

Replying to a question, he said some ministries and agencies, including the road and power sectors, could not utilize the allocations made for their projects and even surrendered the project money back.

The Finance Adviser recently explained that implementation of some development projects could not take place even after issuing work orders due to increase in construction materials.

The projects would have to be revised, which is a time-consuming exercise. The five areas the revised ADP gave priority were agriculture and related sectors (24% of total revised ADP), education (13%), health (11%), power (13%) and transportation (11%).

Some 56 percent of the total revised project allocations directly related to poverty alleviation programmes besides a special allocation of Tk 19 crore for 198 upazilas under 26 districts was given in an effort to reduce the regional disparity.

Replying to another question, the Adviser said given the bigger size of the ADP, the progress in its implementation has not been worse this year compared to the last year. During the July-February period of the previous fiscal year, the ADP implementation stood at 32 percent against 31 percent during the same period this fiscal year.

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