NEC allows Tk227,566cr revised ADP allocation

The National Economic Council (NEC) has allowed Tk227,566 crore revised Annual Development Programme (ADP) for the current financial year, reducing the original ADP size by 7.51%.

The reformed ADP is slated to implement a total of 1,627 projects with the allocation, which earlier was Tk246,066 crore. By NEC Chairperson and Prime Minister Sheikh Hasina.the approval came.

State Minister for Planning Dr Shamsul Alam then shared the details of the approval that came at the meeting held in the NEC Conference Room at Sher-e-Bangla Nagar on Wednesday.

The size of the revised ADP for FY23 has increased to 9.64% compared to the revised ADP for FY22, the state minister disclosed at a press briefing after the meeting.

According to him, the government will provide Tk153,066 crore or 67.26% from its own fund which remained the same as the original ADP. However, the collection from external sources in the revised ADP was shrunk by Tk18,500 crore to Tk74,500 crore or 32.74% of the total allocation.

The project implementing agencies will spend around TK 8,994.58 crore for their respective projects. Therefore, the actual size of the revised ADP will be Tk236,560.67 crore including the cost of self-financed projects.

According to the revised plan, the transport sector will receive the highest TK61,810 crore, around 27.16% of the total allocation, to improve the infrastructure.

The second highest Tk38,317 crore or 16.84% was allocated to implement the projects of the power sector while Housing and Community Facilities sector was allocated Tk25,939 crore or 11.4%.

"Decisions on project implementation should be taken wisely," the state minister said quoting the premier who called on the authorities to prioritise the projects that will generate income and employment opportunities, as well as, the ones that can be completed soon.

"Emphasising the importance of relevant skill building, the PM has ordered to formulate ministry-based lists to figure out the loopholes citing the stagnation of many projects which are yet to go into full operation for the lack of skilled employees," Shamsul Alam added.