DHAKA, June 7, 2018 (BSS) – The government has earmarked an allocation
of Taka 1,73,000 crore for original Annual Development Programme (ADP) for
the next fiscal (2018-19) with more emphasis on speeding up the
implementation of mega projects.
The ADP for the next fiscal, also the highest development budget in the
country’s history, gave emphasis on speeding up the construction works of
some mega infrastructure projects, including the Padma Bridge, Rooppur
Nuclear Power Plant, Karnaphuli Tunnel, Matarbari Power Plant, Padma Bridge
Rail Link and Dhaka Metro-Rail.
If the state owned autonomous organisations’ own fund of Taka 7,869.17
crore is considered, the overall ADP size stood at Taka 1,80,869.17 crore for
the next fiscal (2018-19).
Out of the original ADP size of Taka 1,73,000 crore, Taka 1,13,000 crore
will come from the local sources while the rest of Taka 60,000 crore from the
foreign sources.
Out of the overall ADP size, Taka 1,19,810.95 crore will come from the
local sources while Taka 61,058.22 crore from foreign sources.
The original ADP outlay for the next financial year is 16.59 percent or
Tk 24,619 crore higher than that of the revised allocation for the current
fiscal 2017-18.
While placing the national budget for fiscal 2018-19 at Jatiya Sangsad
today, Muhith proposed making 26.9 percent or Taka 46,452 crore ADP
allocation for human resources development (education, health and others)
while 21.8 percent or Taka 37,652 crore ADP allocation for overall
agriculture (agriculture, rural development and rural institutions, water
resources and others), 14.3 percent or Taka 24,713 crore for power and
energy, 26.3 percent or Taka 45,450 crore for communication (roads, railways,
bridges and others) and 10.8 percent or Taka 18,733 crore for other sectors.
Mentioning that the government spending in the first nine months was
45.0 percent of the revised target of the current fiscal, Muhith said the ADP
implementation has gathered increased momentum this year.
“In the first 10 months, 52.4 percent of ADP allocation has been spent.
The utilisation of project aid, for the first time, has increased
significantly. In the first 10 months of fiscal 2017-18, the utilisation rate
is 61.1 percent compared to 47.7 percent in same period of the previous
fiscal year,” he added.
He said currently the implementation of mega projects is underway in
full swing. “Therefore, it is assumed that there will be dynamism in the
implementation of government expenditures, especially the ADP.”
The Finance Minister said the overall budget deficit will stay within 5
percent of GDP while allocating resources for ADP, the government focused on
regional parity, human resources development, infrastructure development as
well as on assuring quality of expenditure.
With the aim of achieving higher growth, he said the ADP size is
increasing. “Moreover, various important large and mega projects are
currently being implemented under ADP.”
Muhith said the budget implementation capacity of the
Ministries/Divisions has already increased following various financial
reforms taken by the government.
“We have taken initiatives for effecting thorough reforms in the fund
release procedures for development projects to ensure faster implementation
of the development programmes,” he said.
The Finance Minister said as part of this, decision has been taken that
there will be no requirement for fund release of GoB portion for the first
and second installments in the case of projects being implemented by the
government departments.
“From now on, after the approval of the budget, project managers will be
able to use the project fund from 1st of July,” he added.