6.52% of budget allocated to 10 mega projects
Ariful Islam, Dhaka
Published: 06 Jun 2024, 11:45 PM
The government has dedicated 6.52% of its total budget of Tk7,97,000 crore to 10 mega projects across various sectors, including education, power, transport, and infrastructure development, aiming to propel economic growth.
With an allocation totalling Tk51,975.47 crore, equivalent to approximately 20% of Tk265,000 crore for the Annual Development Programme (ADP) for FY25, these projects have been earmarked to receive a significant financial boost.
Topping the list of projects with the biggest funding is the Fourth Primary Education Development Program project, which is set to receive Tk11,055.97 crore.
Following it is the Construction of the Rooppur Nuclear Power Plant project, securing Tk10,502.90 crore. Additionally, the Matarbari 2x600 MW Ultra Super Critical Coal Fired Power Plant Project has been allocated Tk6,005.45 crore.
Infrastructure projects also feature prominently in the development plan, with allocations for initiatives such as the Dhaka-Ashulia Elevated Expressway, the Dhaka Mass Rapid Transit Development Project (Line-1), and the Padma Bridge Rail Link project.
Moreover, investments in essential utilities like the Power Grid Network Strengthening project and the Dhaka Power System Expansion and Strengthening project highlight the government’s commitment to ensuring robust and reliable energy infrastructure.
The government’s ambitious agenda also extends to healthcare, with the establishment of a 500-bed hospital and ancillary buildings in strategic locations across the country, further bolstering the healthcare infrastructure and access to quality medical services.
Adequate allocat ions are being provided to ensure the completion of 289 projects, including 10 major projects, in FY25. Despite some challenges, efforts are underway to ensure timely completion, aligning with the prime minister’s directives, said officials concerned.
According to sources at the Planning Commission, sufficient allocations are being provided to expedite project completion, reflecting the government’s commitment to efficient project execution and national development.
Dr Zahid Hussain, former lead economist at the World Bank’s Dhaka office, told the Daily Sun that despite significant budget allocations in the ADP each year, there is a recurring shortfall in expenditure.
He underscored the challenges faced by crucial sectors in effectively utilising their allocated funds, leading to increased project costs and delays in completion.
He stressed the critical importance of improving spending capacity and reducing corruption-related irregularities to achieve more favourable outcomes.