It is really shocking to know that at a time when the country is striving hard to reach the next higher level of economy, not a single farthing was spent on as many as 90 projects during the last fiscal year. Quoting the latest IMED evaluation report, the lead business page story of this daily alerted that project implementation agencies have failed to spend the amount allocated for these schemes. Many of these and other projects, including some vital ones, have made no progress.
However, that is not all about the project implementation scenario. The public sector project implementation watchdog also revealed that 75 projects could spend only one-fourth of the fund, while expenditure of 80 others ranged from 26 to 50 per cent during the last fiscal year.It is true that all projects are not equally important for the national economy, but it is also correct that a balanced growth presupposes proportionate implementation of all schemes. Lopsided emphasis on some to the neglect of others does not represent an ideal growth path. A small screw in a big machine has also a role to play.
The IMED has also identified the hindrances to smooth and timely implementation of these ADP schemes. Some of the obstacles are no doubt formidable but not completely insurmountable. Those can and must be overcome with concerted efforts.
Nonetheless, project implementation scenario is not altogether frustrating. A few dozen projects have the record of spending the total allocation money and several projects were finished within stipulated timeframe. Financial and physical progress of some other projects were modestly satisfactory. Now we need to base on what has been achieved to gain what is yet to be attained.
That some projects could not be executed to the satisfactory level does not mean that the country’s development spree has come to a standstill. Under the visionary leadership of Prime Minister Sheikh Hasina, the national economy is surging ahead along the path of progress and prosperity as is reflected in the quick implementation of a host of mega projects. What is needed now is to pay adequate attention to accelerating execution of the slow projects to ensure an even development of the national economy.