United News of Bangladesh

The Executive Committee of the National Economic Council (Ecnec)on Tuesday approved 17 development projects involving an estimated cost of Tk 8,974.28 crore. The approval came from the Ecnec meeting held at the NEC Conference Room in the city’s Planning Commission with Chief Adviser and Ecnec Chairperson Dr. Muhammad Yunus in the chair. Of the total cost, Tk 3,180.34 crore will come from the government’s own funds, Tk 5,563.43 crore as project assistance (loans) and the remaining Tk 230.51 crore from the funds of implementing agencies. Of the approved 17 projects, 11 are new and 5 are revised while one project got time extension without witnessing any expenditure. The approved 17 projects are: Upazila Complex Expansion Project, 2nd phase, 2nd revised, Integrated services and livelihood improvement of the forcibly displaced Rohingyas and the host community, Construction of 200-bed drug addiction cure and rehabilitation centers in 7 divisional cities, Enhancing capacity of four newly built marine academies through installing simulators and other related facilities, Access to Justice for Women: strengthening community dispute resolution and improving case management, Establishment of 3rd submarine cable for expanding the international telecommunication system in Bangladesh (2nd revised), Construction of 13 new buffer godowns in 13 districts of Bangladesh for enhancing the fertilizer preservation and distribution facilities (3rd revised). Besides, establishment of Kishore-Kishori Club (1st revised), strengthening integrated services and operations of quick response team for preventing women and children repression, TVET Teachers for the future (TTF) Programme, Countrywide Mobile Library, 3rd revised, Strengthening the development budget management system through installing a new digital database at programming division (3rd revised). Improvement of Public Investment Management System (IPIMS), Procurement Modernization to Improve Public Service Delivery (PMIPSD), Statistical Capacity Enhancement and Modernization Project (SCEMP), Strengthening Public Audit Through Digital Transformation and Capacity Enhancement (SPADTEC) and Strengthening Domestic Revenue Mobilization Project (SDRMP) were among the projects. Besides, the IPIMS project under the Planning Division, PMIPSD project under the IMED, SPADTEC project under the Office of the Comptroller and Auditor General, SDRMP project under the National Board of Revenue (NBR) and SCEMP project under the Bureau of Statistics (BBS) would be implemented as umbrella projects under the Strengthening Institution For Transparency and Accountability (SITA) funded by the World Bank. Apart from these, the ECNEC meeting was also apprised of 15 projects approved earlier by the Planning Adviser. Advisers concerned attended the meeting while Planning Commission members and secretaries concerned were present.     

Planning Adviser Wahiduddin Mahmud on Sunday said that the upcoming national budget (FY25-26) will focus on restoring economic stability, curbing inflation, ensuring discipline in budget management, and making public finance sustainable. “The main strategy of this budget is to avoid falling into a debt trap — whether local or foreign — and ensure that loan repayments and development or operational expenditures do not exert additional pressure on the economy,” he said. Wahiduddin made the remarks while briefing reporters after a meeting of the National Economic Council (NEC). He acknowledged that the government is trying to break free from a vicious cycle of poor fiscal management seen in the past. While revenue collection cannot be increased overnight, the government will work to contain expenditures and limit the budget deficit to within four percent of GDP. The planning adviser said that due to ongoing inflationary pressures, the interim government cannot immediately reduce subsidies across all sectors. However, he noted that the new budget will be a responsible one, with no populist expenditures aimed at short-term public appeasement that could lead to long-term liabilities. He also said that no new mega or long-term development projects have been included in the upcoming Annual Development Programme (ADP), with the exception of the Matarbari Deep Sea Port project funded by Japan. Despite some financial constraints, Dr. Wahiduddin added that the government is continuing to repay longstanding dues to development partners and foreign contractors. NEC approves Tk 230,000 crore ADP for FY 25-26 Regarding the implementation of the Revised Annual Development Programme (RADP) for the current fiscal year, he noted that progress has been slower. This is due to the interim government’s post-August 5 scrutiny of ongoing projects, which resulted in reduced allocations and efforts to prevent fund misuse. He criticised several mega projects such as Payra Port, Karnaphuli Tunnel, and the Bus Rapid Transit (BRT) system, saying these were launched during the previous Awami League government without proper long-term assessment. ADP Size and Sectoral Priorities According to Planning Commission officials, the size of the new ADP for FY26 stands at Tk 2,30,000 crore — an increase of Tk 14,000 crore or 6.48 percent over the revised ADP for FY25, which was slashed from the original Tk 2,65,000 crore to Tk 2,16,000 crore. The new ADP emphasises sustainable, environmentally-friendly development with goals that include higher economic growth, increased per capita income, poverty reduction, job creation, and progress toward the Sustainable Development Goals (SDGs). Priority has been given to sectors such as agriculture and agro-industries, education, health, ICT, transport, power and energy, and region-based balanced development. Among the sectors, transport and communication received the highest allocation with Tk 58,973.39 crore, followed by power and energy with Tk 32,392.26 crore (14.08%), education with Tk 28,557.43 crore (12.42%), housing and community facilities with Tk 22,776.40 crore (9.90%), and health with Tk 18,148.14 crore (7.89%). These five sectors account for 70 percent of the total allocation. Finance Adviser to discuss NBR reforms with officials Tuesday Top Allocated Ministries and Divisions The Local Government Division received the highest allocation among ministries and divisions with Tk 36,099 crore. It was followed by: Road Transport and Highways Division: Tk 32,329.57 crore Power Division: Tk 20,283.62 crore Secondary and Higher Education Division: Tk 13,625.03 crore Ministry of Science and Technology: Tk 12,154.53 crore Health Services Division: Tk 11,617.17 crore Ministry of Primary and Mass Education: Tk 11,398.16 crore Shipping Ministry: Tk 9,387.62 crore Water Resources Ministry: Tk 8,489.86 crore Ministry of Railways: Tk 7,714.99 crore Projects under New ADP The new ADP includes 1,171 projects, comprising: 993 investment projects 19 feasibility study projects 99 technical assistance projects 60 projects financed from the concerned organization’s own funds Additionally, 79 projects will be implemented under the Public-Private Partnership (PPP) model and 228 under the Bangladesh Climate Change Trust Fund. A total of 258 projects have been earmarked for completion during the fiscal year, including: 212 investment projects 11 feasibility studies 18 technical assistance projects 17 organisation-financed projects

The government on Wednesday approved a Tk 427-crore project to rehabilitate two lakh expatriates as some five lakh Bangladeshi workers returned home losing their overseas jobs amid the Covid-19 pandemic. The Executive Committee of the National Economic Council (Ecnec) approved the big project at an Ecnec meeting held virtually with its Chairperson and Prime Minister Sheikh Hasina in the chair. The PM joined the meeting from Ganobhaban, while others from the NEC conference room. Read: 28,849 Bangladeshi expats to return home: FM Each of two lakh returnees will get orientation, counseling and then Tk 13,500 as cash incentive alongside other employment-related supports under the project. Along with this project, a total of 10 development projects involving the overall estimated cost of Tk 2,575.42 crore got approval at the meeting. “Today, 10 projects placed by nine ministries were approved at the meeting. Seven of these projects are new while the remaining three are revised ones,” said Planning Minister MA Mannan while briefing reporters after the meeting. Of the total estimated cost, Tk 2,150.42 crore will come from the national exchequer while the rest of Tk 425 crore as foreign loans from the World Bank, he said. Mannan said the Prime Minister appreciated the supportive project for employment generation in the informal sector aiming to reintegrate the migrant workers who have returned. Hasina said the expatriates who returned home contributed a lot to the country. “Now the country will have to provide support to them.” Under the project, some 23,500 selected returnees who are skilled in different trades will also be given support to have certificates from the recognised organisations and manage jobs at home and abroad. The other project operations include preparation of a database of the returnee workers, making the returnees connected with financial, technical and other relevant organisations and providing support to get loan and financial assistance, and engaging them in different productive activities and small business enterprises. The Wage Earners’ Welfare Board under the Expatriates’ Welfare and Overseas Employment Ministry will execute the project by December 2023. The project will be implemented in 32 districts of the country. The districts are Dhaka, Tangail, Kishoreganj, Narsingdi, Munshiganj, Faridpur, Gopalganj, Mymensingh, Jamalpur, Rangpur, Dinajpur, Thakurgaon, Pabna, Bogura, Naogaon, Rajshahi, Sirajganj, Barishal, Patuakhali, Kushtia, Jashore, Khulna, Sylhet, Sunamganj, Brahmanbaria, Cumilla, Chandpur, Feni, Noakhali, Chattogram, Cox’s Bazar and Rangamati. Of the project cost of Tk 427.30 crore, Tk 425 crore will come as loan from the World Bank, while the rest Tk 2.30 crore from the GoB fund.    State Minister for Planning Dr Shamsul Alam said some five lakh expatriates returned home due to the Covid pandemic. Read: Bangladesh expats to return to Oman from Oct 1 without NOCs The other new projects include Modernisation and expansion of the services and research facilities of the  Institute of Tissue Banking and Biomaterial Research’ project at a cost of Tk 173.80 crore, Construction of 3 underpasses and Paduar Bazar intersection U-Loop on Dhaka-Chattogram National Highway project with Tk 568.93 crore, and Protection of the left bank of the Padma River on the downside of Padma Multipurpose Bridge in different places under Louhajang and Tongibari upazilas of Munshiganj project with Tk 446.12 crore. The remaining new projects are Setting up a full-fledged child cardiology and child cardiac surgery unit in Bangabandhu Sheikh Mujib Medical University (BSMMU) project with Tk 72.09 crore, Construction of Bangladesh Chancery Bhaban at Canberra in Australia project with Tk 146.87 crore, and BSCIC food processing estate in Thakurgaon project with Tk 98.61 crore. The three revised projects are Upgrading district highways into proper standard and width (Mymensingh Zone) (1st revised) with additional cost of Tk 111.58 crore (now the cost increased to Tk 680 crore in 1st revision),  District-based computer training for women (3rd revised) project with additional cost of Tk 31.82 crore (Cost now stands at Tk 118.79 crore), and Reconstruction or Replacement of Iron Bridges in the country’s southern region (1st revised) project with an additional cost of Tk 498.30 crore (Now the cost went up to Tk 2334 crore). At the meeting, the Prime Minister directed the authorities concerned to ensure the proper height of bridges during their construction through coordination with Inland Water Transportation for keeping waterways operative, said the planning minister.  

Prime Minister Sheikh Hasina on Tuesday said the people of the country are now reaping the benefits of democracy as they got back their state power from the cantonment.

The Executive Committee of the National Economic Council (Ecnec) on Tuesday approved seven projects with an outlay of Tk 3,075 crore, including Tk 2,334 crore to modernise the sewerage system in Khulna city.

The National Economic Council (NEC) on Tuesday approved the country’s 2nd Perspective Plan 2021-2041, aiming to make Bangladesh a higher-income and developed country by 2041.

The Executive Committee of the National Economic Council (Ecnec) on Tuesday cleared nine projects involving Tk 2,422.27 crore.

The Executive Committee of the National Economic Council (Ecnec) on Tuesday cleared seven projects, including a Tk 8850-crore one, to ensure safe water supply across the country.

The Executive Committee of the National Economic Council (Ecnec) on Tuesday cleared seven projects involving Tk 4,460 crore, including Tk 767 crore to upgrade Mongla Seaport.