The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved a total of four development projects involving an overall estimated cost of Tk 1,222.14 crore.
The approval was given at the 2nd meeting of the ECNEC in this fiscal year (FY25) and the 1st of the interim government after the fall of Sheikh Hasina led by the Awami League government following the student-led mass uprising in July-August.
Chief Adviser to the interim government Prof Dr Muhammad Yunus presided over the meeting held at the Chief Adviser’s Office in the city’s Tejgaon area, reports BSS.
Briefing reporters after the meeting at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area, Adviser to the Ministries of Planning and Education Dr Wahiduddin Mahmud said out of the overall outlay of Tk 1,222.14 crore, Tk 963.82 crore will come from the government of Bangladesh portion, Tk 100.16 crore as project assistance while the rest of Tk 158.16 crore from the concerned organisation’s own fund.
The two new approved projects are- “Two Appraisal Cum Development Wells (Sundalpur-4 & Srikail-5) and Two Exploratory Wells (Sundalpur South-1 & Jamalur-1)” with Tk 588.40 crore and “Sustainable Social Services Delivery in Chattogram Hill Tracts (2nd Phase)” Project with Tk 400 crore.
Besides, two other revised projects are- “Bakhrabad-Meghnaghat-Haripur Gas Transmission Pipeline, 1st revised” with an additional cost of Tk 70.63 crore and “Tottho Apa: Empowering Women Through ICT Towards Digital Bangladesh Project, 2nd phase and 2nd revised” with an additional cost of Tk 163.11 crore with the project timeframe reducing to one year.
Besides, the adviser said the title of the Tottho Apa project would be changed.
advisers and secretaries concerned attended the meeting.
Interim govt suspends 5-Year Plan
The interim government announced on Wednesday that it will temporarily suspend the implementation of the country’s five-year plans as part of a shift in its economic strategy.
“We are suspending the five-year plan for now. It’s not our focus at the moment,” Planning Adviser Dr Wahiduddin Mahmud told reporters during a briefing at the NEC conference room following the first Executive Committee of the National Economic Council (ECNEC) meeting under the interim government, which was formed on August 8, reports UNB.
Dr Wahiduddin, who also serves as the education adviser, explained that a government taskforce has been established to explore new directions for the country’s economy and its financing. “They will submit their report within three months,” he said.
However, the government will not wait for the task-force’s findings to start taking action. “We don’t need to wait for that. We’re already preparing new projects at a rapid pace,” he added.
The adviser noted that while the country has made significant progress in infrastructure development in recent years, it lags in human resource investment, particularly in education and training. “We have to launch some new initiatives quickly in these areas,” he stressed.
The Eighth Five-Year Plan (8FYP), which covers the period from July 2020 to June 2025, was approved by the National Economic Council in December 2020 under the leadership of then-prime minister Sheikh Hasina. It succeeded the Seventh Five-Year Plan and was the first major document aligned with the long-term “Perspective Plan of Bangladesh 2021-2041.”
The 8FYP is a comprehensive policy framework that addresses issues ranging from an assessment of the Seventh Plan’s progress to macroeconomic strategies and sector-specific goals, setting both quantitative and qualitative targets for the country’s development.
