The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved a Tk 5,651.13 crore project for the construction of an elevated road from Mithamoin upazila headquarters to Karimganj upazila in Kishoreganj for ensuring smooth and uninterrupted all-weather road communication.
The approval came from a meeting of the ECNEC held with its Chairperson and Prime Minister Sheikh Hasina in the chair at the NEC Conference Room in the city's Sher-e-Bangla Nagar area.
Briefing reporters after the meeting, Planning Minister MA Mannan said that the day's meeting approved a total of 11 projects involving an overall estimated cost of Tk 10,640.58 crore.
"Out of the total cost, Tk 7,827.50 crore will come from the government portion while Tk 2,880.18 crore as project assistance," he said.
State Minister for Planning Shamsul Alam, Planning Commission members and secretaries concerned were present at the briefing.
Of the approved projects, six are new while five are revised projects.
The planning minister said the main objective of the elevated road construction project is to establish smooth road communication in the haor region from Mithamoin headquarters to Karimganj upazila connecting the Mithamoin Cantonment.
Besides, some 13.40km existing road from Nakbhanga circle to Morichkhali Bazar would be widened in order to establish smooth and uninterrupted all-weather road communication of Itna, Mithamoin and Austagram upazilas with Kishoreganj Sadar, Dhaka, Sylhet and other districts.
The main project operations include the construction of 15.13km elevated road, widening of 13.40km existing road, construction of four bridges, 13 toll plazas, toll monitoring buildings and check posts, construction of 13km temporary submersible roads, four deep tube wells, four footbridges, construction of 40,468 square metre construction yard, 8,224 square metre bus stops and 151.09 acres of land acquisition.
Revealing some of the directives of the prime minister in the meeting, Mannan said the premier has directed again the authorities concerned and executing agencies to complete the development work within the stipulated timeframe with maintaining the quality of work.
He said the prime minister stressed again conducting proper scrutiny before making the expenditure.
State Minister for Planning Shamsul Alam informed that the prime minister has directed all to remain cautious in expenditure as well maintaining austerity.
He said the head of the government has also urged all to ensure their participation in boosting the country's production alongside motivating others to increase productivity.
The planning minister said a brief on the country's current economic situation was presented before the day's ECNEC meeting which was also appreciated by all.
Asked, whether a draft project on the electronic voting machine (EVM) was placed before the meeting or not, Mannan said neither the project was on the list of discussions nor the prime minister wanted to know anything about it.
"But, the draft project is under process and you will know about it when it will progress further," he added.
Commenting on the current state of the economy, Shamsul said that foreign currency reserves are not the only thing to measure the country's economic strength rather other indices like imports, exports, remittances and government borrowings should also have to be considered.
He said the foreign currency reserves were $32.51 billion on January 11 after the ACU payment while the export earnings were $2 billion higher during the July-December period of the current fiscal year (FY23) compared to the same period of the last fiscal year (FY22).
Besides, the inward remittance was also higher during this period with $10.49 billion and alongside a high FDI (foreign direct investment).
"Exports and inward remittances are increasing thus giving a signal that the forex reserves will also increase. So, there is nothing to be worried about reserves. The inflation is also falling over the last few months," Shamsul said, adding that the shock of the global economic recession would not affect much the country.
He said inflation is being calculated in the country in line with the globally acclaimed method.
The state minister said the government has to keep a huge allocation every year in the budget as a subsidy for which there is a need to make price adjustments in some areas.
He said despite pressure, there is no price hike or adjustments in agro inputs like fertiliser.
Mannan said that the Implementation, Monitoring and Evaluation Division (IMED) under the Ministry of Planning has conducted an in-depth study on the prime minister's priority project “Ashrayan” which was highly appreciated by the premier.
At the very outset of the meeting, the ECNEC extended a warm felicitation to Prime Minister Sheikh Hasina for her re-election as the Awami League president.
The state minister told another questioner that whatever the government highlights is based on data and information and there is nothing exaggeration.
Planning Division Secretary Satyajit Karmaker said the meeting was apprised that foreign-funded projects worth $1.66 billion were approved at the ECNEC over the last six months while these projects would be implemented over the next three to four years.
The other projects approved in the meeting are Construction of Multipurpose Hydraulic Elevator Dam on the Srimai River in Patia upazila of Chattogram with Tk 133.53 crore, Protecting Sheikh Hasina Cantonment area from the erosion of Karkhana, Bighai and Payra rivers in Barishal, first phase with Tk 676 crore, Padma River dredging and protection of left embankment from Majhirchar to Moksedpur via Narishabazar under Dohar upazila in Dhaka, first revised with an additional cost of Tk 528.06 crore, adaptation initiative for the small islands and river char lands in the coastal areas vulnerable to climate change with Tk 77.86 crore, Matarbari coal-based power station construction project (roads and highways department portion), second revised with an additional cost of Tk 364.81 crore.
The remaining projects approved in the meeting are construction of multilane tunnel under the Karnaphuli River, second revised with an additional cost of Tk 315.29 crore, establishment of global maritime distress and safety system and integrated maritime navigation system (EGIMNS) project, third revised with an additional cost of Tk 92.46 crore, inclusive sanitation at 25 towns in Bangladesh with Tk 2,210.70 crore, Climate Change Adapted Urban Development, Phase II (CCAUD), Khulna with Tk 491.28 crore and Ghorashal, fourth unit repowering project, second revised with an additional cost of Tk 99.46 crore.
